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Reaction to Union Budget 2016: Dr. Prashant Bhalla, President, Manav Rachna Educational Institutions

It is heartening to note that Education and Job Creation comprise one of the nine pillars tabled by the Hon;ble Finance Minister in his budget today. Close to 50% of Indias population is under the age of 25. It is only prudent that we think of the employability of the growing young demography, as they have a critical role to play in the future economic development of the country. Programmes such as Make in India and Skill India; are designed to make the country a manufacturing hub, stand to gain from such measures.

As an educationist, I personally feel that Higher Education for skill development and employability is the need of the hour. India has set a national target to skill; 500 million people in India, across a variety of sectors, by 2022. Higher Education Institutions would thus play a very effective role in this direction as they have the complete physical infrastructure and skilled man power with very low capacity utilization. The government allocation for higher education indicates its shift of focus from school to high education. The Rs. 1000 crore set aside for higher education financing is an investment into the future.

The enhanced focus on entrepreneurship is a step in the right direction

 

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