Concern has been expressed by education experts regarding the Union Budget 2024–25's lower budgetary allotment for education
This budget was unveiled on July 23 by Finance Minister Nirmala Sitharaman.
The National Education Policy (NEP) 2020 recommends allocating 6% of GDP to the education sector; the decrease in funding for school and higher education does not accord with this goal.
Insufficient financing can also impact teacher resources and wages, which can lower morale and increase attrition rates.
This cut could have an impact on a number of educational initiatives, scholarships, and programs meant to increase educational equity and outcomes.
This could cause the momentum from prior years to potentially slow down.
But according to specialists in education, this deliberate diversification of revenue sources will improves budgetary sustainability
It will also strengthen the ability of educational programs to withstand shifting economic conditions.
Cost-effective methods of reaching a greater number of students can also be found in open educational resources and digital education platforms.
All kids do not, however, have equal access to high-speed internet or the required technologies.
The digital divide can further disadvantage pupils from low-income households or those who attend school in rural locations.
Additionally, it was proposed that tax breaks and other financial incentives may be used to encourage private sector investment in education and close the budget gap.
However, these educational investments frequently include financial expectations or other commercial interests that conflict with the inclusiveness and equity aims of education.
Educated minds will shape our future and therefore it is important for us maintain more inclusivity in education budgeting and ensuring equity.