NEW DELHI: India is awaiting the presentation of its Union Budget 2025 on February 1, with various sectors and stakeholders expressing high hopes for transformative initiatives. This will mark the eighth budget for Nirmala Sitharaman as Finance Minister.
The first part of the Parliamentary Budget session will begin on January 31 and conclude on February 13, 2025, while the second part will run from March 10 to April 4, 2025.
As the Budget date approaches, there is growing anticipation within the education sector. Waseem Javed, Founder & CEO of EduVib, highlighted the growing aspirations of Indian students wishing to study abroad, with over 13.35 lakh Indian students already studying overseas in 2024.
He said, โThe Union Budget 2025 presents an opportunity to acknowledge the growing aspirations of Indian students aiming to pursue education abroad. With the increasing number of students going overseas, the importance of creating a supportive and streamlined ecosystem for international education is evident.โ
Javed advocates for a focus on simplifying bureaucratic processes and increasing access to financial support for students and their families. He added, โA focus on simplifying processes and making financial support more accessible could greatly benefit students and their families, enabling Indian talent to excel on a global platform.โ
Javed believes that by promoting international education opportunities, India can strengthen its role in global education mobility, offering Indian students better pathways to achieve their academic and career goals.
Sujatha Kshirsagar, President of Career Launcher, also shared her thoughts, emphasizing the need for the government to focus on strengthening Indiaโs educational ecosystem. โThe Union Budget 2025 presents a unique opportunity to strengthen Indiaโs education ecosystem, especially in areas critical to building a globally competitive workforce,โ she said.
Kshirsagar called for an increase in education funding, urging the government to aim for 5% of GDP for education to meet the nationโs Amritkaal goals.
โFor starters, the Indian budget must aim to touch 5 percent to help leapfrog towards Amritkaal goals. Last yearโs historic allocation for education showcased a positive intent, and we hope this yearโs budget further raises the bar,โ she noted.
Kshirsagar also emphasized the need to prioritize STEM research, innovation, and subsidies for international students in India. โWe urge the government to prioritize increased funding for STEM research and innovation, as well as introduce targeted subsidies for international students studying in India, which would position the country as a global education hub,โ she added.
She hopes for greater collaboration between the Centre and State Governments to improve the accessibility of quality education across regions. Kshirsagar also called for more support for skills training and coaching institutions that prepare students for competitive exams, careers, and study-abroad programs.
โA budget that focuses on holistic educational growth and technological advancement will be pivotal in preparing Indian students to thrive in an increasingly dynamic global landscape,โ she concluded.
The tourism sector also has high expectations for the upcoming budget, particularly in the areas of infrastructure development and sustainability. Pardeep Kumar Siwach, DGM of Mayfair Spring Valley Resort, voiced his hopes for more government investment in emerging destinations and eco-tourism.
โAs the 2025 budget approaches, the tourism industry hopes for a strong focus on better infrastructure and sustainability,โ Siwach said. โLast yearโs steps to promote rural tourism and improve connectivity were well-received, and we now look forward to more investments in emerging destinations.โ
Siwach also stressed the importance of tax relief for resorts and GST adjustments to maintain profitability. โResorts need tax relief on investments and GST adjustments to stay profitable. Funding for skill development and workforce training is also important to improve service quality,โ he added.
He also highlighted the growing potential of Northeast India as a tourism hub, with a focus on eco-tourism and sustainable practices.
โGreater attention to eco-tourism and sustainable practices, along with policies that encourage public-private partnerships, can drive growth in tourism,โ he said.
โImproving infrastructure and accessibility in Northeast India will make the region more attractive to visitors, boosting its growth sustainably. Combining eco-tourism with opportunities for MICE (Meetings, Incentives, Conferences, and Exhibitions) events can turn Northeast India into a leading destination for tourism and global events, putting it firmly on the world tourism map.โ
Nirmala Sitharaman concluded her Pre-Budget Consultations with a wide range of stakeholders, including unions, industry leaders, and educational representatives, on January 6, ahead of the work on the 2025-26 Budget.
