Business
Union Budget 2022-2023 garners mixed response from country’s leading educationalists

The Union Budget gains applause for digitalization of education and making it accessible at the grassroots level. Still, many believe more could have been done to elevate the quality of education as well.
The leading names among the country’s higher education fraternity welcomed the Union Budget 2022, announced by Finance Minister Nirmala Sitharaman on February 1. The sector appreciated the budget being in line with promoting human capital through digital tools such as the ‘one class one TV channel’ programme proposed under the PM e-Vidya scheme.
It laid out a progressive vision the Government holds for capitalizing on India’s demographic advantages by suggesting a digital university, creating a conducive environment for inter-university collaborations, and introducing a number of skill development programmes. The Union budget 2022-2023 has allocated Rs 63,449.37 crore to the Department of School Education and Literacy, an increase of about 6.6 per cent (Rs 9,000 crore) over the current financial years. It sets a straight road for the Government to achieve its long-term mission of increasing the employability of the country’s youth by promoting upskilling, reskilling and several learning measures equipping them with new-age skills.
Dilip Puri, Founder & CEO, Indian School of Hospitality, appreciated the move stating, “We welcome the new initiatives introduced by the Government in the Union Budget 2022 to revive and boost our economy. The Government has identified areas that need financial assistance and support, and a clear focus is laid on the education sector. The setting up of digital universities is a progressive move by the Government – by reaching out to every student in the remote corners of our country, they will give them access to education by collaborating with world-class institutes and educators. We hope the execution comes through swiftly and accelerates the growth of edtech. We are also delighted that the Government showed specific interest to promote and facilitating upskilling and reskilling programmes. We hope through continuous skilling avenues we are able to direct our efforts towards skilling aspirants and increase employability in the hospitality sector.”
Shishir Jaipuria, Chairman FICCI Arise and Chairman Seth Anandram Jaipuria Group of Educational Institutions, also commended the government’s efforts in aligning the budget provisions with the progressive elements of National Education Policy 2020.
Shishir Jaipuria said, “The Union Budget 2022 takes forward the vision of universalizing quality education as enshrined in the National Education Policy 2020. The decision to expand the PM e-VIDYA scheme to 200 TV channels and to also develop high-quality e-content in all spoken languages will benefit the students of grades 1 to 12, who suffered learning loss due to the closure of schools during the Covid-19 pandemic.
“The formation of Digital University, as announced in the budget, will be a laudable initiative. The Digital University will help to make world-class education accessible in different Indian languages to all students, even in far-flung areas. The simultaneous proposal to train teachers to build their competency and empower them to develop quality e-content will ensure better learning outcomes. I welcome the move to set up 750 e-labs in science and mathematics and 75 skilling e-labs that will nurture scientific temperament and critical thinking skills important for 21st-century learners.
“Going beyond the e-learning initiatives, the government has rightly decided to designate five academic institutions as ‘centres of excellence to deliver courses in urban planning and design. The move will take forward the vision of India-specific urban development. The budget 2022 is aimed at providing a major push to e-learning, reduce learning gaps and make education inclusive.”
Niranjan Hiranandani, Provost – HSNC University appreciated the government’s construct of a well-rounded budget, promoting equal accessibility of education and growth mindset among students, irrespective of their backgrounds.
Hiranandani said, “Industry lauds & welcomes the thrust to the digital ecosystem while focussing on building and upgrading the digital infrastructure for quality education. Setting up of digital universities will enhance the availability of education to the rural students following the hub and spoke model. With easy access to education in regional language, every student will get an opportunity to empower and equip themselves.
“Moreover, measures for quality e-content appear promising to educate teachers effectively for better e-teaching outcomes. Besides, there is a surge in the scope of personalized learning, especially in the digital ecosystem. The budget also puts required emphasis on skilling, which makes an individual employable and sustainable. The skilling courses will not just encourage learners to apply critical thinking and creativity but also make them industry-ready, which is evidence of shaping the youth of India for a better future.”
Understanding the need for skill-based education, Bikram Agarwal, CFO, Seth Anandram Jaipuria Group of Educational Institutions, praised the budget offerings.
Agarwal said, “The most important takeaway of the Union Budget 2022 is the slew of decisions that have been taken to empower the digital learning ecosystem in the country. The formation of Digital University and the initiative to create quality e-content in all Indian languages will make learning inclusive for all. Besides these moves to nurture academic rigour, the decision to launch the DESH-Stack e-portal will help to skill and upskill learners.
“At the same time, the Government aims to improve learning at Agriculture University by revising and revamping the syllabus to address the practical needs of modern agriculture. I also appreciate the decision to involve academia in defence research and development for better designing and development of military platforms and equipment. The scope of this budget is quite wide. It touches upon several aspects of the education sector and is to be lauded.”
While many applauded these moves, some believed that the government could have done more. The budget critics felt that this year saw lesser investments and initiatives relative to the last year’s budget for promoting quality education across all strata of society.
Reacting to the budget, Professor Tarun Jain, Associate Professor of Economics, IIM Ahmedabad, said, “The Finance Minister has mentioned supplementary teaching through additional TV channels (PM eVidya) to make up for the education loss of the last two years. This is minuscule given the tremendous learning loss that our children have experienced. Significant investments in improving school quality are critical for ensuring that our demographic dividends are actually realized. This has to run against the reality that barely 8 per cent of rural students and 23 per cent of urban students have access to the Internet.
Even when students have Internet access, the quality of online education remains poor. We have to benchmark the budget commitments against the aspirations of the Indian people. High-quality education is both a critical component of what young people hope for, and also have some of the highest returns on investment in the economy. Thus, the Government should consider boosting investments in public education considerably.”
Overall the Union Government received a favourable response for its budgetary recommendations to promote skill-based learning powered by digitalization. From short-term skilling programmes to upskilling, reskilling, apprenticeships and lifelong learning, a wide range of training opportunities have been put across by setting up thousands of skill centres and special training centres. The budget ensured that the Government’s focus on skill training would continue to make youth employable, further contributing to the country’s growth and economic health.
Business
15th Rozgar Mela: EPFO hands over job letters to 976 new recruits

New Delhi, April 26: The Employees’ Provident Fund Organisation (EPFO) on Saturday handed over appointment letters to 976 new recruits as part of the 15th edition of the Rozgar Mela.
The Rozgar Mela was held across 47 locations nationwide. The event, addressed by Prime Minister Narendra Modi via videoconferencing, saw the distribution of over 51,000 appointment letters to newly inducted youth in various government departments, including EPFO.
“As part of this significant recruitment drive, EPFO welcomes new recruits to strengthen its workforce, ensuring efficient delivery of social security services to millions of subscribers across India,” said the Labour Ministry.
Appointment letters to 345 Accounts Officers/Enforcement Officers and 631 Social Security Assistants were issued as part of the drive.
The newly-appointed personnel will contribute to EPFO’s mission of providing provident fund, pension, and insurance benefits, supporting the government’s vision of a robust and inclusive economy.
EPFO has established recruitment vertical in head office to ensure regular recruitments and developed a recruitment calendar complying with directions of Union Minister of Labour and Employment, Dr Mansukh Mandaviya.
“During last one year, EPFO has recruited 159 Assistant Provident Fund Commissioners, 84 Junior Translation Officers, 28 Stenographers, 2674 SSAs among others. Further recruitment of APFCs, EO/AO, PAs and ASOs are underway,” according to the ministry.
The Rozgar Mela aligns with the Prime Minister’s commitment to prioritizing employment generation and empowering youth for nation-building.
EPFO’s participation underscores its dedication to transparent and merit-based recruitment, leveraging modernized processes to enhance service delivery. The new recruits will have access to training through the iGOT Karmayogi platform, besides formal training enabling them to upskill and excel in their roles.
EPFO said it extends its congratulations to all appointees and reaffirms its resolve to foster a future-ready workforce that drives India’s social security framework towards greater heights.
Business
Steel backbone of our economy, coal and mines strong foundation: G Kishan Reddy

Mumbai, April 26: Steel serves as the backbone of India’s economic progress and a vital enabler of the national vision for ‘Viksit Bharat 2047’, Union Minister of Coal and Mines, G Kishan Reddy, said on Saturday.
Addressing the 6th edition of ‘Steel India 2025’ here, the minister highlighted how India is setting new global benchmarks in infrastructure development, from the Chenab Bridge in Jammu and Kashmir, the world’s highest railway bridge, to the historic Pamban Bridge in Tamil Nadu — all made possible by the growing strength of the steel sector.
Every milestone in the nation’s infrastructure journey, he remarked, is forged in steel — reflecting the momentum and aspirations of a Nation on the move.
Reddy further stated that India’s steel sector has grown at an impressive pace in recent years, positioning the country as the second-largest steel producer globally.
Citing the words of Prime Minister Narendra Modi, the minister referred to steel as India’s “Sunrise Sector” — a key driver of domestic consumption, industrial expansion and self-reliance through the Atmanirbhar Bharat Abhiyaan.
Reddy expressed confidence that through close collaboration between the Centre, state governments and industry stakeholders, India will not only meet its raw material requirements domestically but also emerge as a global leader in sustainable, self-reliant steel production.
He urged all participants at the conference to contribute actively to shaping policies that will secure a greener and more resilient future for the nation’s steel ecosystem.
The Union Minister emphasised that if steel forms the backbone of India’s economy, the coal and mining sector represents the strong foundation on which it rests.
He highlighted the importance of raw material security, especially in the context of the current session on Raw Material Strategy and the Shift in Raw Material Mix.
Ensuring the availability of critical raw materials like iron ore, coking coal, limestone, and essential alloying elements such as manganese, nickel, and chromium, he noted, is both an economic necessity and a strategic imperative.
India recently achieved a landmark milestone of 1 billion tonnes of coal production and dispatch in the last financial year — a transformative step toward national energy security.
While efforts to enhance renewable energy are underway, the minister reaffirmed that coal will remain central to India’s energy and industrial landscape in the foreseeable future.
Focusing on coking coal, a critical input in steel manufacturing, Reddy pointed out that it constitutes nearly 42 per cent of steel production costs. India currently imports around 85 per cent of its coking coal needs, rendering the industry vulnerable to international price volatility and supply chain disruptions.
The minister called upon private stakeholders to actively participate in washeries, beneficiation plants, and block auctions. Pulverised Coal Injection (PCI) trials using domestic coal have already shown promise for import substitution, and greater innovation in beneficiation can further improve outcomes.
The minister also emphasised the importance of timely utilisation of greenfield mines, as reiterated by the Prime Minister.
Business
Foreign investors make notable return to Indian equity markets in April

New Delhi, April 26: Foreign investors have made a notable return to Indian equity markets this month, emerging as net buyers over the past two weeks, analysts said on Saturday.
In just the last seven trading sessions, foreign portfolio investors (FPIs) have turned decisively positive on Indian equities. This shift is largely attributed to a weakening US dollar, revisit of tariff agreements and a renewed sense of optimism surrounding India’s economic trajectory.
“Amid a challenging global backdrop, marked by sluggish growth in major economies like the United States and China, India continues to stand out higher for its economic resilience,” said Manoj Purohit, Partner and Leader, FS Tax, Tax and Regulatory Services, BDO India.
India is forecast to grow at a robust rate of over 6 per cent in FY26 and remains the only fastest-growing economy, making it a compelling destination for global investors.
“FPI inflows are expected to remain strong in the near term, providing additional support to the ongoing market rally. As global investors reassess their strategies, India’s economic fundamentals and earnings potential position it as a beacon of stability and growth in a turbulent events happening globally,” Purohit explained.
This month (till April 24), FPIs purchased equities worth Rs 22,716.43 crore while they sold equities worth Rs 17,196.33 crore, with net investment of Rs 5,520.1 crore.
Last month, FPIs ramped up buying in the second half of March 2025, driving a recovery in select sectors. BFSI led the inflows with a turnaround from $380 million selling to $2,055 million buying, netting $1,675 million for the month.
Telecommunications and metals and Mining also saw net inflows of $360 million and $219 million, respectively, according to a recent note by Bajaj Broking. Overall, FPI interest remained focused on BFSI, with most other sectors facing continued selling pressure.
With a strong economic outlook, policy reforms and a resilient market, India remains an attractive destination for global capital. The government’s continued focus on infrastructure, digital growth, and ease of doing business further boosts investor confidence.
The recent move by RBI to keep the existing corporate bond and G-sec limits unchanged for foreign portfolio investors (FPIs) is a testimony of the government’s intent to keep gateway open for offshore participants to continue infusing funds in India market.
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