Will eLearning RISE after Cut in Budget 2018?
India’s Finance Minister, Mr. Arun Jaitley presented the Budget 2018 last week. While it contains a plethora of information, we will be looking at what this Budget holds for the Education sector. Also, try and understand the ‘’RISE’’ scheme and its impact on students’ career.
RISE – Budget 2018
RISE stands for Revitalizing of Infrastructure and Systems in Education. The scheme will be launching in FY19 with a total investment of Rs. 1 Lac crore over the next four years.
A total expenditure of Rs 1.35 lac crore is done by government for health, education and social welfare.
The RISE scheme will have its financing via a restructure ‘higher education financing agency or HEFA. HEFA is functioning as a non-banking financial company with the aim to lend low-cost funds to government higher education institutions.
From Blackboard to Digital Board
The government in its Budget 2018 also stresses on eLearning and digital education. According to the FM, to increase digital intensity in education, technology is the biggest factor. And, there is going to be a shift from blackboard to digital board. Which means a move from traditional classroom to online learning and online exam test.
Cut in Digital Education
An impact will be felt by eLearning and online exam test startups in this financial year. This is due to the fact that there is a cut in fund allocation for eLearning. From Rs 518 crore to Rs 456 crore.
Another jolt could be felt by the middle class as the current 3 per cent education cess will be replaced with a 4% cess.
In conclusion, the decision to move to digital boards will change the idea of teaching in a classroom. It will make learning an immersive experience. As with students who already use mock papers online, the transition to digital board environment will be seamless. Lastly, education startups are hoping that investors will push this sector due to government’s push to technology.