The imminent Union Budget offers a valuable chance to meet the evolving demands of the education sector, offering a glimpse into future growth prospects for the country.
Anticipated Budget 2024
As the student population continues to rise in the country, the crucial demand for new educational institutions and upgraded infrastructure has become paramount. Rohit Gajbhiye, Founder and MD of LEO1, a platform facilitating fee payments in installments, emphasizes that the upcoming Union Budget is a “strategic opportunity to allocate resources and outline plans for enhancing education accessibility throughout India.
EdTech’s Crucial Role in Learning Ecosystem
The Founder and MD of LEO1 highlights the significant impact of technology infusion in tier 2 and tier 3 regions, traditionally constrained in accessing quality education. EdTech initiatives have dismantled barriers, rendering education both accessible and affordable in these areas. Regarding Budget expectations, he emphasizes the need for additional government resources for EdTech, acknowledging its pivotal role in learning ecosystem development. As we look forward to the budget, achieving a nuanced equilibrium between in-school and after-school learning, harnessing the advantages of technology, is essential. We anticipate a comprehensive strategy to address access, equity, and education quality concerns, with a primary focus on enhancing the digital capabilities of schools. Simultaneously, we aspire to witness the creation of a conducive environment for asynchronous learning at home,” he includes.
Bridging Education Gaps through Budget Innovations
Moreover, for last-mile accessibility improvement, he emphasizes the government’s recognition of the edu fintech sector’s potential. “The edu fintech sector plays a crucial role in enhancing access to quality education by employing diverse financial models. Traditional financial institutions, often constrained by rigid structures and limited reach, pose challenges for students from various socioeconomic backgrounds in securing financial support. Conversely, fintech platforms have transformed this landscape, adopting inclusive underwriting policies and extending their reach to students
