Union Budget 2018 QUOTES:[/b]
This is a well-crafted budget with a serious emphasis on health, education and agri business. One of the key highlights of the proposed Union Budget for FY2018-19 is emphasis on Indian Education system. For any economy to achieve economic and social dreams education plays a pivotal role and it is encouraging to see government’s priority in this space. For India to be able to leverage its strengths and opportunities as a knowledge economy on a global scale, it needs to undertake significant reforms and investments in building education and vocational skills, strengthening its innovation system and promoting new age skills. India has done well in the field of Information Technology by focusing on skill training. Adoption and utilization of project management skills, techniques, and methodologies has played a key role in the global success of India’s IT industry. The need of the hour now is training personnel in project management skills across all other sectors. With this India has the potential of becoming the export capital of skilled project managers across the world for infrastructure, construction, healthcare, telecom and many other project oriented industries and not just limited to IT and ITeS industry.
Setting aside Rs. One lakh crore in the next four years for revitalizing current education infrastructure and technology across the country over the next four years. will be a stepping stone to fast track job creation and overall to achieve a 8% plus GDP growth on a sustained basis.
-
Raj Kalady
Managing Director – Project Management Institute, India
The Budget 2018 has highlighted technology as a key driver in the education sector. The efforts by the government will give impetus to tech-based educational reforms and further boost digital learning and MOOCs to reach out to more students and thereby provide access to quality education.
A focused step to leverage research in new-age technologies such as the Internet of Things (IoT), Robotics, Artificial Intelligence (AI), Big Data and launch of PM’s Research Fellow Scheme will encourage industry-relevant research. This will aid in preparing students to compete at a global level and also, to face challenges posed by new technology. Leading B-Schools in India have already taken the cue of increasing digitization and have introduced programs based on Business Analytics and Machine Learning.
The Indian government has rightly taken note of refining the quality of education and will look at improvising education infrastructure in the coming years. It is important for stakeholders in higher education to enable students to adapt to innovation taking place in this era of digital transformation in the job eco-system.
Emphasis on initiatives such as Digital India, Start-Up India and Make In India to truly reap the benefits of our dynamic nation. The focus on enhancing the quality of education will usher in the new India that we aspire.
by Prof. Dr Uday Salunkhe,
Group Director,
S.P. Mandali's Prin. L. N. Welingkar Institute of Management Development and Research (WeSchool)
This year’s budget has a clear focus on farmers, poor persons, women and small businesses. Farmers’ earnings will go up due to the increase in minimum support prices and agricultural productivity will get a boost from the higher allocations to rural infrastructure. The innovative health schemes, the proposed affordable housing fund and expansion in Ujjwala scheme will benefit the poor of the country, especially poor women. There are several proposals that would create lakhs of new jobs. The tax cut for small companies from 30 per cent to 25 per cent, the benefits extended to textile, footwear and leather industries, doubling of allocation to food processing and liberalising of agri exports will increase exports, employment and forex earnings.
Salaried people don’t have much to cheer about. There is a small increase in deductions, no relief on taxes and an increase in the education cess. But I am mainly disappointed that the fiscal deficit target has been breached and the target for next year (3.3 per cent of GDP) is higher than what was promised last year. Higher government borrowing and spending will create inflationary pressures, harden bond yields and prevent the RBI from cutting the repo rate.
Dr[/b] Rudra Sensarma [/b]
Professor of Economics. [/b]
Indian Institute of Management Kozhikode[/b]
Byju Raveendran, Founder & CEO, BYJU’S – The Learning App on the budget announcement by Finance Minister yesterday.
“It is very encouraging to see the increased focus to further digitize education in India. Technology has just about started making an impact in education. A full-fledged intervention of technology in education will create a level playing field for students across geographies solving core issues like access to good quality content and teachers. The decision to move from blackboards to digital boards will change the way teachers teach and students learn and make learning an immersive and interactive experience. The right use of investment in the Indian education sector will provide an impetus to create an environment where learning is seamless for students irrespective of their learning proficiencies or geographical locations. Additionally, the focus to upgrade teaching skills will also play a vital role in the way young India learns. This will ensure and encourage students to love what they learn. Overall, if the planned investment is done in the right way, it will be a huge boost for the economy ,as it will create a the right set of talented workforce for India. And also, for most Indians, education is still the only way to make it big in life.”
This is a well-crafted budget with a serious emphasis on health, education and agri business. One of the key highlights of the proposed Union Budget for FY2018-19 is emphasis on Indian Education system. For any economy to achieve economic and social dreams education plays a pivotal role and it is encouraging to see government’s priority in this space. For India to be able to leverage its strengths and opportunities as a knowledge economy on a global scale, it needs to undertake significant reforms and investments in building education and vocational skills, strengthening its innovation system and promoting new age skills. India has done well in the field of Information Technology by focusing on skill training. Adoption and utilization of project management skills, techniques, and methodologies has played a key role in the global success of India’s IT industry. The need of the hour now is training personnel in project management skills across all other sectors. With this India has the potential of becoming the export capital of skilled project managers across the world for infrastructure, construction, healthcare, telecom and many other project oriented industries and not just limited to IT and ITeS industry.
Setting aside Rs. One lakh crore in the next four years for revitalizing current education infrastructure and technology across the country over the next four years. will be a stepping stone to fast track job creation and overall to achieve a 8% plus GDP growth on a sustained basis.
-
Raj Kalady
Managing Director – Project Management Institute, India
The Budget 2018 has highlighted technology as a key driver in the education sector. The efforts by the government will give impetus to tech-based educational reforms and further boost digital learning and MOOCs to reach out to more students and thereby provide access to quality education.
A focused step to leverage research in new-age technologies such as the Internet of Things (IoT), Robotics, Artificial Intelligence (AI), Big Data and launch of PM’s Research Fellow Scheme will encourage industry-relevant research. This will aid in preparing students to compete at a global level and also, to face challenges posed by new technology. Leading B-Schools in India have already taken the cue of increasing digitization and have introduced programs based on Business Analytics and Machine Learning.
The Indian government has rightly taken note of refining the quality of education and will look at improvising education infrastructure in the coming years. It is important for stakeholders in higher education to enable students to adapt to innovation taking place in this era of digital transformation in the job eco-system.
Emphasis on initiatives such as Digital India, Start-Up India and Make In India to truly reap the benefits of our dynamic nation. The focus on enhancing the quality of education will usher in the new India that we aspire.
by Prof. Dr Uday Salunkhe,
Group Director,
S.P. Mandali's Prin. L. N. Welingkar Institute of Management Development and Research (WeSchool)
This year’s budget has a clear focus on farmers, poor persons, women and small businesses. Farmers’ earnings will go up due to the increase in minimum support prices and agricultural productivity will get a boost from the higher allocations to rural infrastructure. The innovative health schemes, the proposed affordable housing fund and expansion in Ujjwala scheme will benefit the poor of the country, especially poor women. There are several proposals that would create lakhs of new jobs. The tax cut for small companies from 30 per cent to 25 per cent, the benefits extended to textile, footwear and leather industries, doubling of allocation to food processing and liberalising of agri exports will increase exports, employment and forex earnings.
Salaried people don’t have much to cheer about. There is a small increase in deductions, no relief on taxes and an increase in the education cess. But I am mainly disappointed that the fiscal deficit target has been breached and the target for next year (3.3 per cent of GDP) is higher than what was promised last year. Higher government borrowing and spending will create inflationary pressures, harden bond yields and prevent the RBI from cutting the repo rate.
Dr[/b] Rudra Sensarma [/b]
Professor of Economics. [/b]
Indian Institute of Management Kozhikode[/b]
Byju Raveendran, Founder & CEO, BYJU’S – The Learning App on the budget announcement by Finance Minister yesterday.
“It is very encouraging to see the increased focus to further digitize education in India. Technology has just about started making an impact in education. A full-fledged intervention of technology in education will create a level playing field for students across geographies solving core issues like access to good quality content and teachers. The decision to move from blackboards to digital boards will change the way teachers teach and students learn and make learning an immersive and interactive experience. The right use of investment in the Indian education sector will provide an impetus to create an environment where learning is seamless for students irrespective of their learning proficiencies or geographical locations. Additionally, the focus to upgrade teaching skills will also play a vital role in the way young India learns. This will ensure and encourage students to love what they learn. Overall, if the planned investment is done in the right way, it will be a huge boost for the economy ,as it will create a the right set of talented workforce for India. And also, for most Indians, education is still the only way to make it big in life.”