Union Budget 2017 laid a strong emphasis on Skill India movement. India being one of the youngest countries has about more than 41% population under the 25 year age bracket which therefore is impacted the most by the announcements for the Education Sector.
The major highlight of Union Budget 2017 in the education sector was the increased rebate on Education Loans in the taxes which would give a lot of relief to students planning to pursue Higher Education. This would be a great push to government’s newly introduced “Skill Development” scheme where the youth of the country will easily be able to gain meaningful education.
The newly proposed budget also seems to invest on institutes of national importance like the IITs and NITs, which is the need of the hour as the seats in these institutions are mere in thousands whereas the students who compete are in lakhs!
Some other key highlights from Union Budget 2017 impacting youth are:
- Education: System of measuring annual learning outcomes, emphasis on science
- Innovation fund for secondary education
- Reforms in UGC: Colleges to be identified based on ranking and given more autonomy
- Propose to leverage information technology with launch of SWAYAM platform for virtual learning
- National testing agency to be established for all entrance exams, freeing up CBSE, AICTE and other bodies
- 100 Indian international skill centres to be established with courses in foreign languages
- Rs4,000 crore allocated to launch skill acquisition and knowledge awareness
- Special scheme for creating employment in leather/footwear sector
- Tourism: Five special zones to be set up