All you need to know about the Education Budget for 2023-2024

In comparison to last year, the overall allocation for the education sector in the Union Budget 2023 has increased by around 8.3% to Rs 1.13 lakh crore.

The Union Budget 2023-24, which places a strong emphasis on digitization and upskilling, appears to have overlooked several aspects that are thought to be critical to the growth of the education industry. Even though the budget for school education has increased by 16.51% to 68,804.85 crore in 2023, the ed-tech sector, which boosted learning during the pandemic has been completely ignored this year. “The lack of education technology in the Union Budget is a missed opportunity. Emerging technologies such as Ametaverse, augmented reality, and virtual reality (VR) have the potential to revolutionize education when used by ed-techs. By including the sector in the budget, the government would have demonstrated its commitment to providing students with access to cutting-edge technology.” Anoop Singh Bishnoi, Chairman of The Doon School, Dehradun, said.

Several initiatives have been announced in the budget for school education, including a push for a National Digital Library to promote access to quality education and recover learning loss during COVID-19, as well as the establishment of a National Book Trust and a Children Book Trust. However, no funds have been set aside in the Union Budget 2023 for these projects. “School construction as part of development could have been prioritized over the mere mention of smart classrooms,” Anoop Singh Bishnoi added.

Other education-related announcements in the Union Budget 2023 include a push for inclusive education by hiring 38,800 teachers for the 740 model Eklavya Model Residential Schools, which serve 3.5 lakh tribal students. The government has also announced the establishment of three Artificial Intelligence (AI) Centers of Excellence in top educational institutes, 100 5G-enabled laboratories, research grants, new nursing colleges, the extension of the Pradhan Mantri Kaushal Vikas Yojana (PMKVY 4.0), and other initiatives.

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