Budget 2023: Key announcements for the education sector

Prajwal Patil
/ Categories: Trending, Mindshare
Budget 2023: Key announcements for the education sector

Here are the Union Budget 2023 highlights on the education sector

On February 1, Finance Minister Nirmala Sitharaman delivered the Union Budget for FY23-24. As per the budget, a National Digital Library for Children and Adolescents will be established to facilitate the availability of high-quality books across geographies, languages, genres, and levels, as well as device independence. States would be encouraged to establish physical libraries at the panchayat and ward levels, as well as infrastructure for accessing the National Digital Library's materials. 

Furthermore, to promote reading culture and compensate for pandemic-era learning loss, the National Book Trust, Children's Book Trust, and other organisations will be urged to contribute and refill noncurricular titles in regional languages and English to these physical libraries. Collaboration with literacy-focused non-governmental organisations (NGOs) will also be a part of this project. Financial sector regulators and organisations will be urged to give age-appropriate reading material to these libraries to promote financial literacy. 

Considering this, these stocks under the print media sector will be in focus - Navneet Education Ltd (down 0.95 per cent), and S Chand & Company Ltd (down 2.71 per cent). 

Budget for the education sector primarily focused on the developments in the Healthcare industry. As per the announcement, 157 new nursing colleges will be established in the core locations with 57 medical colleges already established since 2014. A new programme will be launched to promote R&D in pharmaceuticals. Also, facilities in select ICMR Labs will be made available for research by public and private medical college faculty and private sector R&D teams for encouraging collaborative research and innovation. 

These were the top gaining stocks in today’s session in the S&P BSE Healthcare index - NGL Fine-Chem Ltd (3.12 per cent), Vijaya Diagnostic Centre Ltd (1.98 per cent) and Biocon Ltd (1.98 per cent). 

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