Pune: As the Union Budget 2024-25 draws near, various sectors express their hopes and expectations, reflecting a collective desire for continued support and development in key areas such as education, technology, recruitment, startups, and cryptocurrency.
Education Sector
Dr. Anunaya Chaubey, Provost of Anant National University, emphasized the importance of sustained support for higher education, which was a highlight of the Union Interim Budget 2024-25 presented by Finance Minister Nirmala Sitharaman.
Dr. Chaubey hopes the final budget will continue to focus on nurturing critical thinking and creativity in alignment with the NEP 2020. He advocates for financial aid that supports teaching methods fostering these skills in school students, along with an interdisciplinary understanding of community, technology integration, and problem-solving abilities.
One specific recommendation from Dr. Chaubey is the allocation of funds towards collaborations between schools and design universities. He also calls for financial backing for technology innovations through partnerships between ed-tech companies and higher education institutions.
This, he believes, will prepare a tech-literate workforce ready to thrive in a competitive marketplace. Enhancing industry-academia collaboration to better align academic curricula with the evolving job market is also crucial, and prioritizing financial support for these collaborations will help build strong connections between educational institutions and industries.
Recruitment and Startups
Manikanth Challa, Founder & CEO of Workruit, highlighted the recruitment and startup ecosystem's anticipation for further advancements in technology and innovation.
Reflecting on recent years, where AI and machine learning have revolutionized the hiring process, Challa hopes the upcoming budget will continue to support digital infrastructure and technology-driven solutions that streamline recruitment and foster entrepreneurial growth.
Challa is particularly looking for increased investment in AI research and development, enhancing talent acquisition, and improving candidate matching.
He points out that many colleges and educational institutions still lack adequate technology, infrastructure, and resources, such as outdated computer labs, limited access to high-speed internet, and insufficient training programs for both students and faculty.
Addressing these gaps is essential to prepare students for a tech-driven job market. Challa urges the government to prioritize substantial investments in educational technology and infrastructure in the upcoming budget.
Cryptocurrency
Edul Patel, CEO and Co-founder of Mudrex, discussed the evolving regulatory landscape for cryptocurrency in India. From severe penalties to a 30 per cent tax on crypto transactions, and now, SEBI's openness to overseeing crypto trades, there has been significant progress towards regulatory clarity.
Patel anticipates that the new government will address critical challenges faced by crypto investors, particularly the 1 per cent TDS on every transaction and the current inability to offset losses against gains. Addressing these issues could create a more favorable environment, encouraging innovation and growth within the sector.