Connect with us
Wednesday,24-September-2025
Breaking News

Business

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

Published

on

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

Sensex, Nifty open lower amid weak global cues

Published

on

Mumbai, Sep 24: The Indian benchmark indices opened marginally lower on Wednesday, on the back of weak global cues, with broad-based selling across all sectors, except PSU bank.

As of 9.21 am, the Sensex was down 289 points, or 0.35 per cent at 81,813 and the Nifty was down 87 points, or 0.35 per cent at 25,082.

Investor sentiments were weighed down by comments from US Fed Chair Jerome Powell about stagflation risks and elevated asset prices. Additionally, the impact of US visa curbs, ongoing foreign outflows, and persistent valuation concerns in domestic markets acted as headwinds for the stock exchanges.

The broad cap indices Nifty Midcap 100 dipped 0.45 per cent, and the Nifty Smallcap 100 lost 0.20 per cent.

Trent, SBI, Asian Paints, Maruti Suzuki, and ONGC are among the major gainers on the Nifty pack, while losers include Hero MotoCorp, Titan Company, Tech Mahindra, Tata Motors, ICICI Bank.

Among sectoral indices, Nifty Auto, the top loser, lost 0.71 per cent. Nifty IT (down 0.66 per cent) and Nifty Consumer durables (down 0.70 per cent) also weighed down on the indices. All other sectoral indices were trading in the red except PSU Bank which gained 0.37 per cent.

Analysts said that the global market is fraught with concern due to the elevated asset prices. Federal Reserve Chairman Jerome Powell hinted that the prices of assets, including stocks, gold, silver, and bitcoin, are currently high. He also reiterated the risks to inflation and employment, indicating that the Federal Reserve’s policy will be difficult to navigate in the future.

In India, even though the Nifty is around 4 per cent down from the September 2024 peak, valuations continue to be higher than the long-term averages. But these valuations will become justifiable when the earnings growth picks up, hopefully in FY27, they said.

The US markets ended in the red zone overnight, as Nasdaq dipped 0.95 per cent, the S&P 500 dropped 0.55 per cent, and the Dow lost 0.19 per cent in the last trading session.

Most of the Asian markets were trading in the green during the morning session. While China’s Shanghai index edged up 0.45 per cent, and Shenzhen advanced 0.92 per cent, Japan’s Nikkei dipped 0.43 per cent, while Hong Kong’s Hang Seng Index added 0.74 per cent. South Korea’s Kospi lost 1.21 per cent.

On Tuesday, Foreign Institutional Investors (FIIs) sold equities worth Rs 3,551 crore, while Domestic Institutional Investors (DIIs) were net buyers of equities worth Rs 2,671 crore.

Continue Reading

Business

Indian stock market opens marginally up, Sensex above 82,000

Published

on

Mumbai, Sep 23: The Indian benchmark indices opened with mild gains on Tuesday amid positive global cues, as buying was seen in auto, IT and financial service sectors in the early trade.

As of 9.22 am, Sensex was trading 122.13 points or 0.15 per cent up at 82,282.10 while the Nifty added 35.85 point or 0.14 per cent at 25,238.20

Nifty Bank was down 26.30 points or 0.05 per cent at 55,258.45. The Nifty Midcap 100 index was trading at 58,686.55 after dropping 12.95 points or 0.02 per cent. Nifty Smallcap 100 index was at 18,293.15 after gaining 4.25 points or 0.02 per cent.

According to experts, for the Nifty index, the resumption of near-term uptrend will depend on whether the slippages stretch beyond the 25200-25000 region or not.

Early moves may retain a positive bias if above 25238, but it would require a direct rise above 25278/335 region to attract momentum, they added.

Meanwhile, in the Sensex pack, Maruti Suzuki, M&M, Tata Motors, Infosys, HDFC Bank, Tech Mahindra and Axis Bank were the top gainers. On the other hand, Ultratech Cement, Sun Pharma, Trent and Asian Paints were the top losers.

In the Asian markets, Jakarta, Bangkok, Japan and Seoul were trading in green, while Hong Kong and China were trading in red.

In the last trading session, Dow Jones in the US closed at 46,381.54, up 66.27 points, or 0.14 per cent. The S&P 500 ended with a gain of 29.39 points, or 0.44 per cent, at 6,693.75 and the Nasdaq closed at 22,788.98, up 157.50 points, or 0.70 per cent.

According to analysts, the major drag on the market since the 2024 September peak is the sustained FII selling, which, in turn, is being triggered by the high valuations in India and attractive valuations elsewhere.

FIIs sold equity worth Rs 121,210 crore in 2024 and this year, they have sold equity for Rs 179,200 crore so far through the exchanges, they said.

The foreign institutional investors (FIIs) were net sellers as they sold equities worth Rs 2,910.09 crore on September 22, while domestic institutional investors (DIIs) purchased equities worth Rs 2,582.63 crore.

Continue Reading

Business

Stock market opens marginally lower, Nifty IT down 2.68 pc

Published

on

Mumbai, Sep 22: The Indian benchmark indices opened marginally lower on Monday, despite positive global cues, with IT stocks leading losses owing to some concerns over the new US H-1B visa rules.

As of 9.26 am, the Sensex was down 189 points, or 0.23 per cent at 82,772 and the Nifty was down 40 points, or 0.16 per cent at 25,286. Sensex and Nifty had opened with dips of 0.40 per cent and 0.33 per cent respectively, but later cut down on the losses.

IT giants such as Tata Consultancy Services (TCS), Infosys, Wipro, HCL Technologies, Tech Mahindra, and Coforge slipped in the morning trade.

The US government has clarified that visa holders returning to the country are exempt from the new $100,000 fee, which provided marginal relief to Indian IT companies.

White House said the visa fee would be a one-time payment, applicable only to new applications from the next lottery cycle (March–April 2026), and not on renewals.

The broad cap indices Nifty Midcap 100 dipped 0.05 per cent, and the Nifty Smallcap 100 lost 0.12 per cent.

The losers were Tech Mahindra, TCS, Tata Motors, Apollo Hospitals and Dr Reddy’s Labs.

Among sectoral indices, Nifty IT, the top loser, lost 2.68 per cent. Nifty Pharma (down 0.45 per cent) and Nifty Healthcare (down 0.33 per cent) also weighed down on the indices. All other sectoral indices were trading with marginal gains.

The Nifty index has held firmly above the 25,300 mark, closing at 25,327 in the previous session. It continues to trade above its key moving averages—the 20-day, 50-day, and 200-day EMAs—reaffirming the broader bullish undertone.

Analysts predicted that sentiment will remain positive as long as the index remains above these averages. Immediate resistance is placed at 25,500, followed by the 25,600 and 25,850 zones. The support lies at 25,150 and 25,000 zones.

They said that the market is likely to exhibit mixed behaviour, with the IT sector being affected by the H-1B visa issue and domestic consumption themes responding positively to the potential increase in consumption from lower GST rates kicking in from today.

According to them, the present low interest rate regime will aid the consumption boost and will also facilitate an increase in credit demand, boosting the profitability of financials.

Asia-Pacific markets mostly rose on Monday, tracking Wall Street’s gains from Friday and boosted by China’s key lending rate decision that kept key rates unchanged.

In the US markets, Nasdaq has added 0.72 per cent, the S&P 500 edged up 0.49 per cent, and the Dow inched up 0.37 per cent in the last trading session.

Most of the Asian markets were trading in the green during the morning session. While China’s Shanghai index edged up 0.07 per cent, and Shenzhen advanced 0.17 per cent, Japan’s Nikkei added 1.45 per cent, while Hong Kong’s Hang Seng Index lost 0.82 per cent. South Korea’s Kospi added 1.06 per cent.

On Friday, foreign institutional investors (FIIs) purchased equities worth Rs 390 crore, while domestic institutional investors (DIIs) were net buyers of equities worth Rs 2,105 crore.

Continue Reading
Advertisement
Advertisement

Trending