BUDGET 2023: Tax Benefits expected by Education Sector to promote Digital Initiatives

National Education Policy 2020 seeks to implement a digital revolution in delivery of education from kindergarten to 12th grade.

Tax Benefits expected by Education Sector

Vidushi | Jan 30, 2023 |

BUDGET 2023: Tax Benefits expected by Education Sector to promote Digital Initiatives

BUDGET 2023: Tax Benefits expected by Education Sector to promote Digital Initiatives

The National Education Policy 2020 seeks to implement a digital revolution in the delivery of education from kindergarten to grade 12. While textbooks are tax-free, digital activities by schools are not and are taxed at 18%. The NEP-2020 vision is something that experts, educational institutions, and professionals are expecting from this budget.

A number of online courses related to technology are among the digital initiatives that must be implemented to encourage distance learning. A study issued by the Union Education Ministry states that 45.71 lakh students are enrolled in distant learning for higher education (with 20.9 lakh females).

Paresh Kumar, CEO of Dev Insights, stated that India has approximately 500 government universities. A substantial proportion of students in the country attend private universities and colleges. As a result, the government should spend cash for more than simply new IITs and IIMs, but also for how private universities can be assisted in developing world-class institutions.

He remarked that we are hopeful that the central government would focus on the education sector in order to ensure that every child has access to a high-quality education. “We support government steps such as the NEP implementation, the inclusion of modern courses, and the strengthening of the e-learning ecosystem with Covid profoundly changing the dynamics of classroom instruction,” he said.

Education experts anticipate that the Budget would place more emphasis on technology-driven education, online learning, and its infrastructure, particularly in Tier 2 and Tier 3 cities. In total, there are 11,296 independent institutions and 43,796 colleges, according to the “All India Survey on Higher Education” (AISHE) 2020-2021 conducted by the Union Education Ministry.

“During the period 2020-21, the number of universities increased by 70, while the number of colleges increased by 1,453. Rural areas are home to around 43 percent of universities and 61.4 percent of colleges among these higher education institutions “said the AISHE in a statement issued on Sunday.

In the last Union Budget, Rs 1,04,278 crore was allocated for the education sector. This was an increase of 11 percent from the Budget of 2021-22.

According to a report released by the Union Education Ministry, the enrolment in distance higher education is 45.71 lakh

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