Budget 2020 India: By making these changes the government can help realize our collective dream of transforming India so it can become an innovative superpower.
Budget 2020 holds significance for several reasons. The timing is such that the government is not under any electoral pressure. India is only a few years away from the commitment made by the Honorable Prime Minister for making India a 5 trillion dollar economy. Education is becoming a significant factor in building long term electoral capital and with an eye on 2024, the Govt should make some long term bets on education.
Compared to other BRIC nations, India’s spend on education as an overall % of the budget is abysmally low. India stands at a 3% spend compared to China’s 4%, Brazil’s 5.9%, and Russia’s 4.1%. India must increase its expenditure on education. It should also reallocate some of its existing spend on relevant and high impact areas.