Budget 2018 - Strategic Financial Planning for Integral University Lucknow

Academic

15 Feb, 2018 |Facebook |Twitter |Email |

Integral academia reviews the Budget.

Budget has always been a hot topic of discussion in India with high aspirations and often disappointing ramifications. With GST, demonetization and economic reforms together, Budget 2018 brings us lots to chew over.



In the Education sector the finance Minister Arun Jaitly proposes to launch the revitalizing of Infrastructure and Systems of Education (RISE) by the next year. Administrative infrastructure and defined System in education holds the key in providing quality education hence this seems to be a welcome move by the government and holds high expectations.

The faculty at the University is complacent with the continued stress on digital education this year which was evident when the minister said that the technology is the biggest drive with digital medium to increase digital intensity in education. “Reaching out to the students has never been this easy with the advent of technology and digital education. The reach is extended and much sorted”, remarks Amrit Gurung, who has created the popular mobile application for Integral.

The government has announced Rs 1.38 lakh crore for 2018-19 in the current fiscal on health, education and social security. Dr. Asma Farooque, Head of the Department of Commerce and Business Management at Integral says the Budget sounds balanced yet the allocated budget for education shows the increase of 3,141 crore, which is 3.84%. And if we remove the 1% increase in cess that we would be paying , then the increase in budget this year is mere 0.46% which is disappointing.

Another key focus of the budget in terms of education was on teachers’ training. Under the new programme ‘Diksha’, 1.3 million untrained teachers will be getting formal training and an integrated B.Ed. programme for teachers will be initiated. “These teacher training institutes should impact the training of our nation’s teacher in a manner that it encourages them to support the holistic development of the child and to continuously refine their own skills to create the best possible learning environment,” commented Prof. Monowar Alam Khalid, Dean of Students' Welfare at Integral.

On tribal education, the government has announced that by 2022, every block with more than 50 per cent ST population will have Eklavya schools at par with Navodaya Vidyalayas. In the higher education, the Finance Minister announced the launch of Prime Minister’s Research Fellow Scheme that will identify 1000 BTech students to do PhD at IITs and other prestigious institutes.

Prof. Anoop Kumar Saxena, Dean, Management and Research is positive on Rs 2196.35 crore allotted to Sports &Youth Ministry in the union budget for 2018-19. He believes that education and sports are the two most vital areas to have youth flourish.

New Institutions

The government announced 24 new medical colleges and hospitals by upgrading district-level ones. At least one medical college for three parliamentary constituencies will be established for medical education and services. New schools of planning and architecture will also be set up including 18 more in IITs and NIITs.

There would always be a need for places of higher education in India and prioritizing youth, their education, health, sports and jobs should be the prime intention and focus of the government. Keeping the significance and the utility of Economic reforms, budget, National growth... Etc Department of Commerce and Business Management Integral University gathers economists, and experts in management to organize a two day National Conference on Feb 22 - 23 on “Economic Reforms and their impact on Indian Economy”.