Budget 2023 Expectations: EdTech Industry
“Budget 2023 needs to be more strategic with a long-term vision considering the global recession and inflation. To strengthen India’s promising EdTech and digital start-up ecosystem, we expect the government to ramp up the digital infrastructure, robust education facilitation, data protection policies, and more tax exemptions in the upcoming Union Budget. From the EdTech perspective, there are a few key expectations from this budget, including tax exemptions, lower GST, subsidies for students, improved internet connectivity, affordable 5G devices, and more budget allocation for improving the technology infrastructure at schools to accelerate the growth of the education sector and for making educational services accessible and affordable. With emerging technologies and market trends, upskilling is the need of the hour, and we hope that the budget also focuses on the upskilling sector. We also need more grants for research and development and tax breaks for companies that invest in ed-tech.
We anticipate that taxes on educational programmes will be reduced significantly from the current 18% tax. This will ease the burden of millions of learners seeking a better future through skilling and upskilling programmes, thereby influencing employability and employment.
Overall, the education sector hopes for a budget that recognizes the importance of education technology & skill development and takes steps to support its development and adoption.”
– Jai Decosta -Founder & CEO at K12 Techno Services