Experts Applaud Education Budget: Loans for Higher Ed, ITI Upgrades and Job Creation

Experts in the education sector have welcomed the recent budget announcements that offer loans up to Rs 10 lakh for higher education and upgrades to ITIs. They emphasize the importance of closing the gap for students aspiring to study abroad. The budget also highlights job creation and skill enhancement initiatives.

Education sector experts hailed the Budget announcements on Tuesday, which include offering loans up to Rs 10 lakh for higher education in domestic institutions and upgrading ITIs. However, they emphasized the need to address the gap in opportunities for students aspiring to study abroad.

Union Finance Minister Nirmala Sitharaman presented the Union Budget for 2024-25, introducing financial support for student loans and measures to upgrade 1,000 Industrial Training Institutes (ITIs) in the hub-and-spoke model. The budget also aligns course content with industry skill needs and revises the model skill loan scheme.

Key figures like Shishir Jaipuria of the Seth Anandram Jaipuria Group and Manish Gangwar from the Indian School of Business lauded the budget for making quality education more accessible and focusing on job creation. Other experts, including Kunal Vasudeva and Aritra Ghosal, stressed the need for increased support for students aiming for global education to further bolster India's international educational stature.

(With inputs from agencies.)