A Singapore-based global investor hailed the annual budget presented by Finance Minister Nirmala Sitharaman on Wednesday, saying its a great step in the right direction for a developing India.
Sitharaman presented the Union Budget for 2023-24 in Lok Sabha on Wednesday, becoming the sixth minister in independent India to present five consecutive budget.
The latest Indian budget offers more power to the people - be it young or old, business class or salaried persons, said Atul Temurnikar, the chairman of the Global Schools Foundation (GSF), which aims to increase its investments in India in the next five years.
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“It is a great step in the right direction for a developing India. With this budget, we have clarity that the aspirations of the youth match the priorities of the government, ” Temurnikar said.
“The Saptrishi initiative has taken the right 7 steps to be inclusive in every way. As an educationist and entrepreneur, I see it as a focussed attempt to put India on a superhighway of development with its youth in the drivers’ seat,” he said.
The GSF has planned out a USD 550 million investment in India as part of its ongoing expansion of a network of 35 campuses in 11 countries.
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The 7 main priorities, referred to as 'Saptrishi', aim to drive sustainable and environment-friendly economic development.
The announcement of deeper investments in digital and physical infrastructure for the benefit of the student community comes as great news for the foundation which runs international schools based on Indian, international curriculum in India and is looking to invest more in the younger generation for a better future of the country.
The Kushal Vikaas Yojna for upskilling youths and the 100 labs for developing apps with 5G services are the best initiatives of the budget, according to Temurnikar, who has been running international schools from Singapore over the past two decades.
“Such incubators are the need of the hour, and the fact that these labs will focus on needs like intelligent transport systems, smart classrooms, precision farming, is an exciting proposition.
“The talented youth of India will be able to make use of these facilities to take the country on a bigger trajectory of development,” said Temurnikar, who is originally from Nagpur and has been in Singapore for over three decades.
Three centres of excellence for artificial intelligence in top educational institutions, 100 laboratories in engineering institutions for developing applications using 5G services, and a national digital library for children and adolescents for facilitating the availability of quality books across geographies, languages and genres, are among the announcements for the education sector in the 2023-24 Budget.
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The decision to start three centres of excellence for artificial intelligence is also the need of the hour, said Temurnikar.
“This is good news for not just the individual teachers and their professional development, but also for the schools and students who will benefit from the expertise of their educators.
“Post Covid, our preparedness for seamless education continues, and the budget has proved that the Indian educationists take a proactive role in ensuring that we continue to be alert and nimble in providing benefits to the younger generation," he said.
The announcement of a National Digital Library for children and adolescents is one such step, which will give students access to quality books across geographies, languages, genres and levels - from villages to cities, he said.
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“The Government is aware of the needs of the hour on upskilling and hybrid education and they have a firm finger on the pulse of the education sector,” he said.
P Sudarshan Venu, the Singapore-based MD, TVS Motor Company, said, “This budget is well rounded. The FM has put inclusivity, capital expenditure, consumption, digitisation and the middle-class front and centre".
“The emphasis on increased infrastructure spending and support for lithium-ion battery manufacturing will be a great multiplier for industry overall,” Venu said.
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