Union Budget 2022: Reactions from Edtech Sector

Union Budget 2022: Reactions from Edtech Sector

The finance minister Ms. Nirmala Sitharaman has finally presented the Union Budget in parliament for FY 2022-23. The budget is expected to lay the foundation of modern and digitally empowered India. FM emphasized improving the digital infrastructure as technology is rapidly expanding its footprints. The government touched almost every sector be it startup, education, health, MSME, telecom or manufacturing. The IT industry plays a crucial role in the economy hence the Finance Minister announced several measures to boost domestic manufacturing and uplift the IT sector. The edtech sector has grown exponentially in recent years and continues to touch new heights with the advent of next-gen technologies. The government has given extra focus to improving the EdTech sector. The IT leaders have shared their views on the announcements for EdTech space. Read the excerpts below:

“The Decision To Establish The Digital University Is A Disruptive And Futuristic Decision” 

“The decision to establish the digital university is a disruptive and futuristic decision that will benefit a large number of students even from the remotest part of the country by making world-class education accessible. This will surely give wings to the dreams of deserving students and meet the goal of providing high-quality education to all students across the country. The plan to increase the 'One Class One TV Channel' from 12 to 200 TV Channels in all States in India will enable students to learn through radio and DTH channels thereby overcoming the problem of internet connectivity. The two decisions truly reflect the Government’s aims to leverage technology advancements and use them as tools to meet the educational aspirations of a large number of students in the country. They have set an example that is worthy of being emulated by others.” - Dr. Dishan Kamdar, Vice-Chancellor, FLAME University

“The Significant Focus On Education, Particularly Edtech Will Collectively Boost Outcomes For Education In Many Ways” 

“As stated by the FM, the Union Budget focuses on inclusivity and collective effort, particularly with its focus on online education and outreach into rural and, as yet, underserved areas, and demographics. The deliberate and significant focus on education, particularly edtech with the provision of ‘one class, one channel’ and for regional language learning will collectively boost outcomes for education in many ways. We foresee a fillip to education-based content services, supplementary learning systems, and e-infrastructure development. The PM e-Vidya scope has been extended to 200 channels and we wish this effort all the success considering the vacuum created by the pandemic and the urgent need for swift and decisive recovery and transformation in student’s learning horizons. To this end, the proposed setting up of the Digital university is sure to usher in a sea change as far as new initiatives in the field of virtual teaching and education are concerned. This budget does echo the noble intentions of ‘Sabka Prayas’ and ‘Sabka Vikas’.” - Nitin Vijay, MD & CEO, Motion Education Pvt Ltd, Kota, Rajasthan

“The Budget's Blueprint For Skilling Programs Will Reduce Skill Gap To A Great Extent” 

"The Union Budget 2022's push for high-quality e-content in regional languages is a very welcome allocation, given that it allows our multilingual youth to thrive and grow in the language they are most familiar with. The proposed e-content delivery and personalized learning will also help dissolve geographical boundaries and make learning more effective, allowing students to learn at their own pace and time. We foresee more students getting equal access to quality education, which, in turn, will push up overall learning outcomes. The Union Budget 2022 today further reiterated that the path to India's economic recovery also lies with India’s student community. The Budget's blueprint for skilling programs through ITIs and the new digital DESH e-portal will help deliver the most vulnerable students from losing out on employment opportunities and will reduce the skill gap to a great extent. The Budget's positive schemes are indeed commendable, and we hope to see them transform our education sector and our nation into a much larger global superpower." - Paridhi Khaitan, Managing Director, ProTeen 

“The Announcement Of Digital University Is Most Welcome” 

“The Finance Minister has unveiled a Budget that aims to bridge the economic gap between India and Bharat. The proposed policies are an inspiring start in what will hopefully provide stimuli for continued growth, leading us closer towards our goal of achieving sustained acceleration! I welcome the focus on digital aspects of education and creating greater access for students with structured, high-quality content. The announcement of Digital University is most welcome and in line with the trend of online schools across the country. But, it misses the opportunity to leapfrog with more significant innovation and investment for improved access, equity and affordability. The structural flaws of the education sector and problems on the ground could have been addressed. Exciting times are ahead for Digital Education.” - Yeshwanth Raj Parasmal, Co-founder, 21K School

“Thrust On Digitalization Of Education Will Equip Upcoming Human Talent With The Right Tools” 

"This is a forward looking budget which is both inclusive and progressive. Thrust on digitalization of education and focus on upgrading syllabus across colleges will equip upcoming human talent with the right tools. The use of high-technology such as Kisan drones as well as battery-swapping will turn out to be growth engines for both agri-based and service-based economies. The introduction of a regulated digital currency is forward-looking and is in the spirit of harnessing blockchain and other exponential technologies" - Nitesh Jain, Founder & CEO, BeSingular 

“Government Has Taken A Very Good Initiative Regarding The Education” 

“The government has done a good job by taxing the cryptocurrency. People in India were worried whether the cryptocurrency would be banned and the coins which they hold like bitcoin etherium etc would lead to losses but now it is clear that cryptocurrency has become legal in India though you have to pay a tax of 30% on its transfer. Infact all the Digital Rupee will come on blockchain, the one which is on Web 2.0 now will come on Web 3.0 and to transfer that money a lot of resources will be required which will create a lot of jobs not only in the government but private and public sector too. Also government has taken a very good initiative regarding the education, currently there are 12 channels in different regional languages which will now be expanded to 200 Tv channels, so small rural areas where it is difficult for the internet to reach, children in those areas will atleast be able to learn using Television. I had expected that the government would ban the income tax but I don’t think this will happen any time soon.” - Harsh Bharwani, CEO and Managing Director, Jetking Infotrain

"The Budget Is Focused Around Smart Digital Expenditures In Not Just Education, But Across Sectors” 

"I believe the 2022 budget is focused around smart digital expenditures in not just education, but across sectors! A very forward-looking budget in my opinion that will enable startups take lead in India's next phase of development. Introduction of the e-passport facility will decrease friction in the immigration process and I look forward to Indians getting access to such world-class tech. Lastly, steps like capping off long-term capital gains at 15% clearly position this as a document which heard and implemented feedback from all quarters, and that’s amazing!” - Akshay Chaturvedi Founder & CEO, Leverage Edu

“It’s A Great Step To Extend “One Class One TV” To 200 Channels” 

"I think it’s a great step to extend “One class One tv” to 200 channels. It will reduce the inequity in access to education for children without the internet and digital infrastructure while also making the content available to them in their local language. A National tele mental health program to support the mental wellbeing of families and revamp of 2 lakh Aanganwadi centers also holds strong relevance considering the impact the closure of schools and the pandemic has had on the lives of people. It will be good to link this back to the operationalization of NEP 2020’s compulsory education for children starting 3 years of age as part of the budget, who have been severely impacted by the pandemic in the most crucial way." - Sonali Khan, Managing Director, Sesame Workshop India

“The Government Is Encouraging Edtech Start-Ups To Flourish” 

“Glad to see an overarching focus on encouraging paperless and digital advancements in the Union Budget 2022. Right from using a tablet to read out the budget to regarding Startups as the growth driver for economy, Finance Minister Nirmala Sitharaman proposed a wide spectrum of progressive announcements across sectors. As most of the schools and other educational institutions have chosen for online classes due to the third wave of the pandemic, the digital divide further increases. By introducing ‘One Class One TV Channel’ program by PM eVIDYA, and with fibre optic connectivity for last mile digital reach in villages, the Govt. is trying to shorten the digital divide. It’s a great move as this will also enable all states to provide supplementary education, even in regional languages for classes 1 to 12. By developing digital universities that provide world-class quality education with ISTE Standards, the govt. is also encouraging EdTech start-ups to flourish. FM has also proposed to extend the period of incorporation of eligible startups by one more year (i.e. March 31, 2023) for providing tax incentives. This is going to be a boost for young startups and companies whose plans might have been delayed by the pandemic.” - Anand Maheshwari, Managing Director, Allen Digital Pvt. Ltd

“Digital DESH E-Portal Set To Be Launched Will Help The Youth In Skilling, Upskilling And Reskilling” 

“The much awaited Union Budget has delivered many positive developments for the education sector. The implementation of One Class One TV Channel program of PM eVIDYA to be expanded from 12 to 200 channels, should help mitigate the learning loss our children have endured during the past two years as schools remain closed. This will definitely support supplementary education in regional languages for students across classes 1 to 12. A boost in the digital infrastructure across the country is essential and the mention of the completion of 5G spectrum auction in 2022-2023 will certainly help enable education institutions to attain the much needed learning outcomes. The Digital DESH e-portal set to be launched will help the youth in skilling, upskilling and reskilling so that they are ably employed and can contribute to the country’s economic growth. We will soon be a super-energised and digitised economy!” - Prajodh Rajan, Co-founder and Group CEO, Lighthouse Learning

“We Are Pleased With The Way Budget 2022 Has Focused On Breaking Barriers To Provide Access To Top-Quality Education” 

"Path-breaking initiatives such as digital DESH e-portal, digital university and e-content portal for teachers serve to provide comfort on the acceptance of EdTech by the government and the regulatory bodies. We are pleased with the way Budget 2022 has focused on leveraging technology to drive deeper penetration into the market and breaking barriers to provide access to top-quality education to the masses. We expect EdTech businesses catering to customers in the Tier-II and lower cities to gain significant momentum in the coming years. Education is one of the key pillars of growth and youth upskilling is a major contributing factor. With technology playing a key role in the growth of various sectors, the availability of a skilled workforce will be critical. This provides significant tailwinds to opportunities in the technology upskilling space. Additionally, the focus on agricultural upskilling has given rise to a new opportunity for all the non-technology skilling players in the market." - Nikhil Barshikar, Founder and MD, Imarticus Learning 

“Government Has Clearly Taken A Stride In Right Direction To Support Inclusion Of Technology In Education”

“With Budget 2022, the government has clearly taken a stride in the right direction to support inclusion of technology in the education and financial services sectors. With initiatives like digital DESH e-portal, digital university, digital currency, and credit extension to MSMEs coupled with ease of doing business, increasing the penetration of EdTech and FinTech products to the masses will be the key area of focus for the coming years. However, a closer alignment with the budget allocation as per the New Education Policy would have added significantly to the current momentum in the EdTech sector.” - Amit Ratanpal, Founder & MD, BLinC Invest 

“ACCA Applauds The Government For Measures Announced To Providing Supplementary Education In Regional Languages” 

“ACCA applauds the government for measures announced in the budget related to providing supplementary education in regional languages for class 1-12 students, by expanding PM eVIDYA program to over 200 TV Channels and the launch of the Digital DESH e-portal for skilling, upskilling & reskilling the youth of India. These together with the development of the digital university for world-class quality education will set a clear path for India to create an advanced digital learning infrastructure and also reach far in educating learners who lack access to the internet and other resources.” - Md Sajid Khan, Head of International Development, ACCA 

“These Digital Initiatives Will Provide For A More Conducive Environment For The Adoption Of Tech-Based Learning” 

“We highly support our government's decision of the Production Linked Incentive Scheme that will create 60 lakh new jobs in the next 5 years. The idea of Digital university will help India set a top-notch world-class education. We believe that knowledge and awareness will support India becoming Atmanirbhar and through the expansion of the One class, one TV channel' program of PM eVIDYA this cause will be highly achievable. Regional languages will be empowered through this program, which enables all states to provide supplementary education in regional languages for classes 1 to 12. These digital initiatives will provide for a more conducive environment for the adoption of tech-based learning and which will directly route to empowering youth from real Bharat” - Pulkit Sharma, Co-Founder and CEO, Khabri

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