Budget 2024: The educational angle (2024)

To become truly world-class, the Indian education sector requires more funding, more standardisation and more transparency

Much like every year, there is a great deal of anticipation surrounding the upcoming Union Budget. The government, in the build-up to the Lok Sabha elections later this year, is expected to increase expenditure in key sectors, including education. When it comes to last year’s Budget (2023-24), the allocation for the education and the higher education sector was just about 2.9 per cent of the country’s GDP. Though small in absolute terms, it was still 8 per cent higher than the previous year. This trend of increasing spending on education is expected to continue this year as well.

However, if one compares the spending on education in other countries, the allocation is much less than the outlay by developed countries such as the United States (6 per cent of GDP) and the United Kingdom (4.2 of GDP). They meet the global expectations for budgetary allocation on education. Therefore, there is scope for India as well to increase its budgetary allocation in education from a mere 2.9 per cent of its GDP to 6 per cent.

In India, the foundation of education leaves a lot to be desired, and we need to spend more to improve it. Simply allocating funds is not enough to help the education sector. If we have to bring a fundamental change, we must first make sure each child gets a level playing field, which won’t be possible by just allocating funds or raising the allocation of funds. The change must arise from all levels, from funding to syllabus to the infrastructure.

One Nation, One Syllabus

One way to develop a strong foundation among students is to implement a uniform syllabus across the country. Our syllabus varies in quality across states. Starting from the school level, we have numerous boards, including the Central Board of Secondary Education (CBSE) and the respective state boards. The syllabus and the teaching pedagogies in schools across each of these boards vary from one another. As a result, once students graduate from the 10th and 12th classes and appear for competitive examinations, some of them don’t get a level playing field. Unless we think of ‘One India, One Syllabus,’ no amount of funding is going to help in a real sense. There needs to be a systemic change in the way we teach our children, and the Centre and the states must come on the same page to understand the real issues plaguing our nation’s education system.

If all students from Class 1 to graduation to PG level and further have one syllabus and one quality, it will provide all students with a level playing field. The industry will get high-quality and high-calibre resources from all over the country. The country’s resources will be better utilised. Imagine the talent pool we will have when every child gets equal opportunities for good quality education.

READ MORE: Alumni networks: A legacy of excellence

READ MORE:How India can become a Vishwaguru

Empowering Rural Education

We also need to nurture talent in rural India and help them compete by improving the quality of education they receive. There is no dearth of talent in rural India; what is lacking is resources, syllabus, infrastructure and the kind of exposure students in urban centres receive. This leaves rural students without a proper academic foundation to pursue higher education. A coordinated effort between the states and the central government is required to allocate the budget for education accordingly.

OCAC and Vocational Education

In traditional degree programmes, we need to focus on out-of-class academic collaboration (OCAC) and vocational education and scale it up tremendously. This component has to become an integral part of the syllabus. In some countries, for instance, students are required to invest enough time out of class, for in-company projects, learning real-life skills, etc. This is the reason why they learn to be so innovative and make significant research contributions. We need to adopt a research and application mindset.

Higher Education and Research

When it comes to research, most of the government funding and grants go to government institutes. Research grants must be disbursed judiciously, whether it is for a government university, a deemed-to-be-university or a private university. One of the criteria for transparent and merit-based allocation of research grants is that there can be weightage for rankings, like NIRF and NAAC rankings etc. There needs to be a transparent criterion for allocating research grants.

Moreover, there is a need to see how many government-funded research project reports, which get submitted, are acted upon. And how many such submitted project reports lead to the decision-making stage by the concerned stakeholders. Once these changes are implemented, transparency and merit-based decision-making will be demonstrated, resulting in highly motivated stakeholders, and leading to significant improvements in research outcomes.

The author is the Campus Director of NMIMS University Navi Mumbai

Budget 2024: The educational angle (2024)

FAQs

How much does the US spend on education in 2024? ›

The Governor's budget includes $21.7 billion in General Fund support for higher education in 2024-25—an increase of $226 million (1.1 percent) from 2023-24. Nearly all of the new discretionary spending is for the California Community Colleges (CCC).

What percent of the US budget goes to education? ›

Public K-12 expenditures total $857.2 billion. Expenditures are equivalent to 3.68% of taxpayer income. K-12 schools nationwide receive $119.1 billion total or $2,400 per pupil from the federal government. States contribute a total of $383.9 billion to K-12 public education or $7,740 per student.

What is the DOE budget for 2024? ›

DOE proposes $51.99 billion in budget authority for FY 2024, a $6.2 billion, or 13.6 percent, increase from the FY 2023 Enacted Level.

Will there be a budget in 2024? ›

Budget 2024 Key Highlights Live Updates: Finance Minister Nirmala Sitharaman announced the Union Budget 2024-25 in the parliament on July 23.

Which US state spends the most on education? ›

New York State spent the most money per student on public education in 2022. Idaho spent the least. Home / Education / Articles / How much money do states spend on education?

Who spends the most money on education? ›

Norway reported the highest total expenditures on education institutions as a percentage of GDP (6.6 percent), followed by Chile (6.5 percent), Israel (6.2 percent), Australia (6.1 percent), and the United Kingdom and the United States (both 6.0 percent).

How much of US GDP is spent on education? ›

Expenditure on Education as a % of GDP in the United States (2010 - 2020, %) The expenditure on education as a % of GDP in the US was 6.4% in 2020, an increase of 3.8% from the previous year. Between 2010-2020, the expenditure on education as a % of GDP in the United States decreased by 16.7%.

Where does the US rank in education? ›

Education Rankings by Country
RankRegionEducation Index
13.United States0.883
14.Estonia0.876
15.Netherlands0.875
16.Latvia0.872
157 more rows

How much money do universities get from the government? ›

UC Core Funding Is $10.3 Billion in 2021‑22.

Of this amount, $4.8 billion (46 percent) comes from state General Fund, $5.1 billion (50 percent) comes from student tuition and fee revenue, and $424 million (4 percent) comes from other sources.

What is the proposed 2024 budget? ›

The proposed 2024 budget amounts to PhP5. 768 trillion. It is 9.5 percent higher than the 2023 budget of PhP5. 268 trillion and is estimated to account for 21.7 percent of the gross domestic product (GDP) in 2024.

What was in the 2024 budget? ›

Stamp Duty Land Tax – from 1 June 2024, the Government will abolish Multiple Dwellings Relief, a tax relief in the Stamp Duty Land Tax regime for people and businesses buying multiple properties in a single transaction (or multiple linked transactions).

Has the 2024 federal budget passed? ›

Washington, D.C. – Today, by a vote of 75-22, the U.S. Senate passed the six-bill Fiscal Year 2024 (FY24) appropriations package.

Will there be a cost of living for 2024? ›

How much is the increase: Social Security benefits and Supplemental Security Income (SSI) payments for more than 71 million Americans will increase by 3.2% in 2024. This is the annual cost-of-living adjustment (COLA).

What is the income tax standard deduction? ›

The standard deduction is a specific dollar amount that filers can subtract from their adjusted gross income to lower how much of their income is subject to tax. Standard deduction amounts generally depend on your tax filing status and are adjusted each year to reflect the rate of inflation.

What is a change in income tax? ›

Income tax changes announced in Budget 2024. 1) Standard deduction hiked to Rs 75,000 from Rs 50,000 in the new income tax regime. 2) Deduction on family pension for pensioners increased to Rs 25,000 from Rs 15,000. 3) Income tax slabs revised under the new income tax regime.

What is the budget for foreign aid in 2024? ›

The President's Fiscal Year (FY) 2024 Budget Request for the State Department and the United States Agency for International Development (USAID) is $63.1 billion for foreign assistance and diplomatic engagement, which includes $32 billion in foreign assistance for USAID fully- and partially-managed accounts, $3 billion ...

How much does the US spend per student on education? ›

Methodology
StateRankTotal Spend Per Student
California25$34,580
Illinois26$34,218
Wisconsin27$33,058
Texas28$33,050
47 more rows
Feb 12, 2024

How much will the California budget for education in 2024? ›

K-12 Education Funding: Challenges and Adjustments: Governor Newsom's May Revision of the California State Budget maintains K-12 education funding at $109.1 billion for 2024-25 and preserves $8 billion in additional 2022-23 spending outside of Proposition 98 calculations, raising concerns about future spending ...

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