Interim Budget 2024: IMS Ghaziabad (University Courses Campus)’s Perspective on Catalyzing Research, Innovation, and Entrepreneurship
New Delhi (India), February 23: Over the past few years, India has seen major changes in perhaps one of the most unexpected areas; as the Indian education system grows and adapts technology on a greater level, this assimilation is leaving a positive impact in eliminating educational barriers nationwide. For instance, In 2023, India witnessed a [...]
New Delhi (India), February 23: Over the past few years, India has seen major changes in perhaps one of the most unexpected areas; as the Indian education system grows and adapts technology on a greater level, this assimilation is leaving a positive impact in eliminating educational barriers nationwide. For instance, In 2023, India witnessed a surge in female enrollment by 28% in higher education; recent reports indicate that females make up 43% of students enrolled in STEM courses nationally. As this number is expected to rise, the 2024-2025 budget will provide more opportunities for India’s students and private sectors to adopt learning approaches that leverage the nation’s workforce and dispense resources equitably.
On 1st February 2024, India’s Finance Minister Nirmala Sitaraman announced in their budgetary speech that the government will implement a 1 Lakh rupees corpus with an attached 50-year Interest-free loan for long-term financing of research and innovation in domains of technology and science.
Moreover, the 1 lakh rupees corpus carries a little to no interest rate to encourage various private sectors to explore and prioritize research and innovation activities. Beyond the aspect of current defence needs and requirements, this budget also serves as a medium for propelling Indian growth in the future. India has undergone a massive “Brain Drain” over the past few decades due to students facing a lack of opportunities for career prospects and innovative career options. Regardless, this recent Corpus serves as a vital medium for leveraging India’s manpower to generate innovations and developments for our country.