As a leading chain of K-12 schools with over 90 branches across India, Orchids The International School welcomes the Union Budget 2024’s strong focus on education and skill development. The allocation of ₹1.48 lakh crore for education, employment, and skilling demonstrates the government’s commitment to nurturing our youth and preparing them for the future.
The budget’s emphasis on modernizing education aligns with our vision of redefining learning for upcoming generations. The upgrading of 1,000 ITIs with industry-tailored course content is particularly promising. According to the India Skills Report 2023, only 45.9% of Indian youth possess the skills required by employers. This initiative could significantly bridge this skills gap.
We’re excited about the comprehensive internship program targeting 1 crore youth over five years. This aligns with our philosophy of providing practical, hands-on learning experiences. The World Economic Forum’s Future of Jobs Report 2023 highlights that 44% of workers’ skills will be disrupted in the next five years. This internship program will be crucial in preparing our youth for these rapid changes in the job market.
The introduction of e-vouchers for higher education loans and the revision of the Model Skill Loan Scheme are welcome steps towards making quality education more accessible. With India’s ed-tech market projected to reach $10.4 billion by 2025,, these financial measures could accelerate the adoption of technology-integrated learning across the country.
The establishment of the Anusandhan National Research Fund is a landmark initiative. According to the UNESCO Science Report 2021, India’s gross domestic expenditure on R&D is only 0.7% of GDP. This fund could potentially boost India’s research output significantly, contributing to innovation and technological advancement in education.
As educators committed to nurturing well-rounded individuals, we see these budget initiatives as catalysts for transforming India’s educational landscape. They align perfectly with our mission of preparing students to adapt and excel in an ever-changing world. We look forward to playing our part in realizing this vision of a skilled, innovative, and globally competitive India