Mr B L Mittal, Founder & Executive Chairman, SastaSundar.com,
“Budget 2020 is designed from a long-term sustainability point of view – very disciplined, true and focussed on long-term growth. The Finance Minister could not have done beyond this in the current circumstances. Vision for farmers, reform in education and focus on aspiration will go a long way. It is good to see we are moving from Dal Roti to Aspiration for Good Living.”
Mr. Vinod Kumar Gupta, Managing Director, Dollar Industries Ltd. “The budget for – aspirational India, economic development and caring India, gives a long-term vision of the present government. The increase in tax payer base in last 4 years and thereafter, shall boost in revenue growth – so this budget foresees long term spending more on strengthening rural, agricultural, horticulture and service industry. The Vivad par Viswas Scheme to reduce pending litigations of more than 5 lac cases across India to settle the cases before 31st March 2020, without any interest or penalty is a thoughtful step. Besides, the waiving off of DDT (Dividend Distribution Tax) is a relief for corporates, as it will help in increasing liquidity. Similarly, Nirvik scheme to allow benefits to small time exporters will push forex. Support to the start-ups and MSMEs is an additional push towards uplifting the economy. Tax payers Charter too is a big step to instill confidence to the tax payers. However, reduction in personal tax rates is below expectations, specially after big cut in tax rates of corporates in Sept 2019. But overall, it is a visionary and practical budget. Hope it gives a new lease of life to the morally down market”.
Mr. Naveen K M, Managing Director, Trio World School
The Union Budget 2020 has proposed to allocate INR 99,300 crore toward skill development and quality education, out of which 3000 crore has been allocated for skill development which is a welcoming move.
Other than this, the other appreciable move taken my the finance ministry is to collaborate with private institutions and to bring in bridge course for developing the skills of the teachers, this would provide an advantageous platform for both private and government as well.
The education sector has also received a good boost by launching ‘Study in India’ program with Ind-Sat exam, this will bring in foreign students to India for higher education from Asian and African countries. The budget 2020, seems to give hope to a lot of educational institutes through Study in India program. This is a very- balanced budget and we believe that these were the much-needed steps that the government has taken to develop Indian education system. Overall, we believe that they have embarked upon a path in the right direction.
Ms. Sumita Tulsiani, Co-founder, TravelDilSe-AI-powered virtual travel specialist for e-customising holiday packages worldwide. Startups are being recognised as a strong force behind the aspirational India in todays Budget 2020. As quoted by the finance minister “Entrepreneurship is strength of India.” Setting up a portal based investment clearance cell by the government will uplift the startup ecosystem and will further strengthen India’s position Globally. Given the Entrepreneurial spirit in India, backed by governments support, the startup ecosystem across sectors especially Agriculture & Health care will generate lot of employment opportunities. Recognition of AI & ML as cutting streams, proposal to have full-fledged online degree programmes showcases the vision to position India as a digital nation. The budget also focusses on boosting the tourism sector by developing of 5 archaeological sites as Iconic Sites with museums that will indirectly help startup like ours in the travel technology space to expand our business.
Ms. Niru Agarwal, Trustee, Greenwood High International School
The Union Budget 2020 has definitely proposed significant changes which have the capability to revitalise the education sector. The enhancement of budget allocation for education is an appreciating move. The status of education is often a healthy predictor of the country’s overall development and well-being and we are excited that the proposed INDSAT exam could be the game-changer in terms of internationalising Indian education.
Special initiatives like ‘Study in India’ will attract foreign students, thus increasing awareness of the rich and diverse Indian culture. The push for FDI in education too programme will make India an international education hub. The focus on degree level full-fledged online education program by institutions ranked in top 100 will help improve education levels and give a push to digital education. The overall focus of the budget has been to make education employment-friendly. This is a very good move as it would secure the future of students who study with high aspirations and expectations. Going forward, we feel that there is an urgent need for the government to open up the crucial education sector to private enterprises to ensure quality-driven education.
Ms. Shweta Sastri, Managing Director, Canadian International School, Bengaluru
The budget 2020-21 has given a great boost to education with a massive outlay of around Rs 1 lakh crore and has specifically focussed on ‘Study in India’ campaign which will encourage foreign students to study in India. INDSAT exam will be held in Asian and African countries for scholarships to encourage students to seek education in India. The push for FDI in education too programme will give exposure to foreign students on India’s education prowess and make India an international education hub and bring a lot of foreign investment into Indian education. This increased allocation of fund will also ensure better quality government schools that educate majority of children in India.
The focus on degree level full-fledged online education program by institutions ranked in top 100 will help improve education levels and give a major push to digital education. A total of 150 higher education institutes will have apprenticeship programmes which will improve the skills of the unemployed. Urban local bodies will provide fresh engineers a job opportunity for one year and this will help engineers learn on the job. There is also a large focus on meeting the huge demand for teachers.
The announcement of the proposed new education policy will encourage the establishment of a rigorous education system in the country. Overall, the decision to treat education holistically is also a welcome move and will lend greater synergy in planning and execution of important schemes and programmes. This is a balanced budget as far as education sector is concerned. Overall, we feel that the measures taken should meet the expectations of the common man and will lead to increased focus on the education sector. Going forward, we feel that this right intent of the government can truly be attained if we also have long-term strategy and organisational structure in place and we also look forward to specific initiatives to promote investment in new-age trending technologies.