Enhancing Budget Allocation : A crucial step for Transformative Higher education

The Indian education system has long been recognized for its robustness, though historically, it has emphasized rote learning—a legacy that needs to evolve. In today’s dynamic world, education must strike a balance between knowledge acquisition and skill orientation to remain relevant and impactful. Pre-Budget Expectations: Higher Education & Research Sector https://campusutra.com/modi-3-0-governments-1st-budget-2024-perceived-by-industry-as-a-budget-of-hope/ Since 2015, budgetary allocations to education have increased, reflecting the government’s commitment to the sector. However, higher education requires a more substantial share of these funds. Simply transferring money or establishing new institutions will not automatically lead to quality enhancement. Instead, it is crucial to develop well-defined quality benchmarks and incentivize institutions that adhere to them. Source : https://prsindia.org/files/budget/budget_parliament/2024/DFG_2024-25_Analysis_Education.pdf?form=MG0AV3 The Department of Higher Education has been allocated Rs 47,620 crore (39% of the Ministry’s budget). This is a decrease of 17% from the revised estimate for 2023-24. Budgetary allocation need to be aligned and benchmarked with focus on four key pillars towards Transforming higher education from knowledge acquisition to Skill-oriented Learning Cutting-Edge Curriculum – Higher education institutions must integrate the latest advancements in their respective fields into their curricula. This ensures that students are exposed to contemporary knowledge and emerging trends. Skill Development – Beyond theoretical learning, students must be equipped with practical skills that enhance employability and innovation. Industry Collaboration – Meaningful corporate interactions, internships, and partnerships bridge the gap between academia and industry, making education more application-driven. Entrepreneurship & Real-World Problem Solving – Institutions should foster entrepreneurial mindsets by encouraging innovation in specific domains, enabling students to develop solutions to real-world challenges. Financial allocations in the budget should be linked to institutions’ efforts in integrating these elements. The National Education Policy (NEP) has laid the foundation for a modern, flexible framework in higher education. To realize its vision, budgetary priorities must shift toward institutions that actively align with these principles, ensuring a transformation from rote-based learning to a future-ready education system.