admin, Author at ArdorComm Media Group

Ujjwal Joshi, AVP Sales, DigitalEd India shares the vision of the company

“Our platform name is Möbius and it is helping faculties and reducing their efforts and changing the learning experience of a student,” says Ujjwal Joshi, AVP Sales, DigitalEd India in an interview with Chandan Anand, CEO & Group Editor, ArdorComm Media Group at the ‘ArdorComm New Normal – Education Leadership Summit & Awards 2022’ #ELSAJaipur #ELSARajasthan Would like to understand more about your organization? We are a Canada based EdTech company who is transforming digital education in India. So, in India digital education has been perceived as an online education or live classes but that’s not exact what does it mean, it actually means you are engaging student and student can have day-to-day lectures with them till the end day of the semester and it can enhance student performance. So, that’s what we’re bringing in, we are changing the entire ecosystem of Indian academic culture which is very popular outside India, so this is a new technology in India and that’s what we are doing with our platform. Our platform name is Möbius and it is helping faculties and reducing their efforts and changing the learning experience of a student. So, this is a sort of shift we are bringing in India. What’s the application of this learning, is it an AI based or a video-based learning? If we go little ahead of AI and video based it has everything, it is concentrating on student learning regardless of what student expect from an institution. I give you an example, an engineering student when he goes to an engineering institute he thinks he’ll change the world, but he ends up memorizing everything that’s not the point, his learning should be very high. So, AI is of course helping but we are focusing on student perspective and helping him to learn more and of course our platform has a math engine working behind so this math engine has AI inbuilt and it also helps students to know where he is heading wrong to understand a concept, so we are targeting a small point and taking it to a bigger wherein he can actually contribute with it through his branch to the country, so that’s what we are doing. Which kind of educational institutions are your target customers, whom are you looking to tie up with? We are targeting K7 to K12 so we want to strengthen the concepts of a student and Science and Engineering from that level and Higher ed of course engineering colleges, science-based courses and research-based courses so all technology-based courses we have our strong hand. Any plans going ahead may be three years down the line? Our plan is to approach and enhance the distance education program down the line in three years because in India distance education program are perceived as less effective than regular programs, their importance is little lower. So, what we are planning is to increase the effectiveness with our digital notes, dynamic testing assessment. So, this is our long run plan also coaching institutes so coaching institutes are playing vital role what they’re doing is they are preparing student for this higher education but a student has a very less material online available. So, we are giving all power to the student on their mobile so that they can practice more, they can learn higher and they can contribute more to the country. What are your takeaways in these last two days event? This is a beautiful event I will surely give a thumbs up to you guys because I have had a great chance to listen to the most prominent people from the industry and speak to them and I would like to contribute more in such events wherein the sort of people we are targeting, they’re coming here and getting engaged to each other. Also, we got a chance to interact with other EdTech companies how they are contributing and how we can collaborate with each other and create a win-win situation in the market and create a value for the customer also because creating value for the customer is more important for us. Any message for ArdorComm Media Group? You guys are doing great job, first of all you are creating an ecospace wherein people like us can directly meet to our customer in a lesser value. I mean if I hire a team there so it will get me a higher cost, but I get to meet more than 100 people in two days, get a bigger funnel and get a collaboration around also, so in a two days’ time we have achieved a lot. So, I really appreciate the effort you guys are putting and I would like to contribute more in such events.

Ujjwal Joshi, AVP Sales, DigitalEd India shares the vision of the company Read More »

Amidst Adani-Hindenburg tussle, FM Nirmala Sitharaman says Indian banking system is in a sound position

admin / Governance Community

Finance Minister Nirmala Sitharaman stated on Friday that the Indian banking system and lenders are not at risk as a result of the ongoing dispute between Indian business tycoon Gautam Adani’s Adani Group and US-based short-seller Hindenburg. They are not overexposed, according to the SBI and LIC. “They have very clearly said that their exposure (to Adani Group stocks) is very well within the permitted limits and with valuation falling as well, they are still over profit. That is the word from the horse’s mouth,” FM Sitharaman stated in a CNBC-TV18 interview. After overcoming the twin balance sheet problem, she added, the Indian banking system is now at a comfortable level, with NPAs coming to low levels, recoveries, and a sound position. “The entire macroeconomic analysis which any expert would do also reflects the Indian banks are placed, that cannot be so if they are at risk,” she added. In an attempt to assuage investor concerns, SBI, the largest lender in the nation, stated that its exposure to the Adani Group is fully secured by cash-generating assets. Bank of Baroda, another public sector lender, reported having a total exposure of Rs 7,000 crore to the embattled group, all of which are totally secured. Life Insurance Corporation (LIC) has reported that it has less than 1% of its entire investments—a sum totalling Rs 36,474.78 crore—to the debt and equity of the Adani Group. After a research by Hindenburg Research questioned the conglomerate’s levels of debt and use of tax havens, seven listed Adani group companies lost more than half of their market capitalization, which fell to less than $100 billion. Adani, whose fortunes had just seen a sharp surge, unexpectedly announced the withdrawal of its Rs 20,000 crore follow-on public offer (FPO), which had been completed successfully the day before. After the share sale was called off, investors’ moods were further jarred. The Adani Group has dismissed the claim of stock manipulation, saying it has “no basis” and is the result of an ignorance of Indian law. The group companies have “consistently de-levered” over the past decade, according to the company. The stock market crash also marks a drastic turn of events for Adani, who has recently established partnerships with and drawn investment from foreign giants. Adani lost his position of Asia’s richest man as well, falling to 17th place in Forbes’ ranking of the world’s richest people. Adani was previously ranked in 3rd position, behind Elon Musk and Bernard Arnault.

Amidst Adani-Hindenburg tussle, FM Nirmala Sitharaman says Indian banking system is in a sound position Read More »

DU receives 1,700 applications for its fee waiver scheme, final list to release soon

admin / Education Community

According to an official on Thursday, almost 1,700 students have filed for the Financial Support Scheme (FSS) at Delhi University. The scheme is intended for students in the Economically Weaker Section (EWS). According to the official, the university has not yet examined the applications or released the final list of students who will be eligible for the scheme. The deadline to apply for the scheme was January 31. “We have received around 1,700 applications for the fee waiver scheme so far. The university through this scheme will extend the benefits of equity, access and quality with excellence, both in letter and spirit, to the financially weak students,” the official told PTI. Delhi University had already announced the scheme in November of last year, in keeping with the government’s “Sabka Sath, Sabka Vikas” motto. All of the student fees, with the exception of the examination and hostel fees, are covered by the waiver. Depending on their family’s income, students from economically weak backgrounds may receive a fee waiver of up to 100%. A bonafide university student studying full-time is eligible to apply. According to the official, “A student with a family income of less than Rs 4 lakh (annually) will be eligible for up to 100 per cent fee waiver, while students with a family income of Rs 4 lakh to 8 lakhs can apply for a 50 per cent waiver.” A list will be made to see who is eligible based on their family’s income, the official said. “It will be seen whether the students are eligible for full waiver or half. In case of confusion, we might call the students for an interview,” the official said. According to the official, students with ER (essential repeat) and arrears of previous examination papers are not eligible to apply. The DU had asked applicants to submit copies of their fee receipts, copies of their parents’ income tax returns, if applicable, and an annual family income certificate for the previous financial year from the tehsildar or any equivalent competent authority. Additionally, a copy of a bank passbook with the student’s name, account number, bank’s IFSC code, and a photo pasted wherever appropriate was required. Source: PTI

DU receives 1,700 applications for its fee waiver scheme, final list to release soon Read More »

Industry Leaders shares their reaction to the Union Budget 2023

admin / Blogs

The Union Budget 2023-24 was presented by the Finance Minister, Nirmala Sitharaman on 1st February. The Industry leaders from the Education and Healthcare sector share their views and reaction to the Budget with ArdorComm Media. Dr. Madhu Chitkara, Pro-Chancellor, Chitkara University, Punjab shares her views on Budget 2023 with the following pointers: Union Budget 2023 with clear focus on research and upskilling set the ball rolling. We welcome step of establishing national digital library for children and adolescents for covering learning loss during pandemic. Recruitment of 38,800 teachers and support staff for the 740 model Eklavya Model Residential Schools which are serving 3.5 lakh tribal students will bring them into mainstream and strengthen nation’s commitment to social equality. Mention of Teacher Training, Capacity Building and Culture of Reading are the newest and welcoming steps for education sector. 30 Skill Indian International Centres, Industry players to partner with educational institutions will strengthen “Make in India” initiative. Launching new three centres of excellence for artificial intelligence is not the only reform needed. Access and Outreach of these centres to all kinds of HEIs will determine its success. Rupak Barua, Group CEO, AMRI Hospitals; Chairman, CII Healthcare Committee (Eastern Region), and President, Association of Hospitals of Eastern India says, “The Union Budget 2023, presented by Union Finance Minister Ms Nirmala Sitharaman on 1st February, has mostly been a positive and balanced budget for the healthcare sector, addressing some crucial areas like research & development, skills training, raising awareness of a hitherto ignored disease like sickle cell anaemia, stress on nutrition, and a focus on large scale digitalization, among other things. The Budget outlay pointed at a willingness on part of the Government to plan a roadmap in the right direction that will eventually benefit the country’s healthcare sector. While the increased budgetary allocation of over 13 percent is expected to help develop better healthcare infrastructure, both in terms of instrumentation and human resources, a stress on R&D, and the understanding to allow research in the PPP mode will largely help in reaching India’s millennium goals. However, the sector had expected some tax break for medical devices, and would have welcomed a reconsideration of GST imposition on beds at private hospital above a certain tariff, since these would go a long way to relieve the burden of high medical bills on the common man. Also, some provisions to help in proliferating the scope and awareness of health insurance would have also been an even more positive move, since this would help reduce out-of-pocket expenditure for patients.” Kanak Gupta, Group Director, Seth M.R. Jaipuria Schools shares his reaction to the Budget by saying, “Hon’ble Finance Minister has taken a leaf out of Schools’ books: she continues to present the budget paperless, completely digital. This was perhaps a tip of the hat to millions of teachers who shifted to in-person education of children when the pandemic struck: from face-to-face at School building to face-to-device, and now in a phygital manner, trying to make the best of both worlds. Delighted to hear about quantitatively strengthening of schools and Higher-ed The first Budget proposed under Amrit Kaal is revolutionary in many ways and encompasses 3 major themes: care, green, and digital. Again, a theme which concurs with most Schools where there has been impetus on SDG (Sustainable development goals), SEL (socio-emotional learning) and 21st century skills with focus on digital. I do believe that we have capabilities in the country to provide learning & development of the highest level, at par with anywhere in the world. Glad that FM spoke about upskilling of teachers, the most essential element of the pedagogical interactions at Schools. There is spending in this Budget. We require that. I had said recently that it would take a brave FM to outlay 6% of GDP to education. Notably, this is the highest allocation granted to the ministry ever. School Education Department’s outlay stands at ₹68,804.85 crore, while the Higher Education Department has been allocated ₹44,094.62 crore, a positive step, and hopefully we’ll come close to the desired spending levels. Even to meet the requirements as laid out in the NEP2020, there is infrastructure required. For sustainability and growth, there are investments required. Being the year that was with the schools just coming out of pandemic, uncertainty looming large and schools progressively marching towards Next-Gen learning, there have been massive expenses and even greater revenue losses. The strange stance taken by certain segments of society not paying fees has hurt millions of educators and schools whose livelihood depends on the fees payment by parents. The Indian education system has always complained about the non-availability of quality teachers. The current impetus on recruiting a large number of teachers and creating a sustainable teachers’ training programme equipping them with multilateral skills will go a long way in improving the quality of education in Indian schools. Focus on culture of reading is a game changer, and a nod to the emerging AI tools with ‘Make AI work for India’. Nationwide apprenticeship program, PMKVY 4.0 will empower and inspire countless young people. I was hoping for greater collaborations of Government with private players, focus on governance, and ease of running that will be beneficial to the sector. Perhaps skilling focus is a step in the right direction with more to come. I am a strong believer that the future of the country is knowledge-led, technology-enabled, with more and more communication in vernacular languages. Most of the good, some of the expectations lacking, but an aspirational budget with focus on growth. Greater collaborations with private players, focus on governance, and ease of running is beneficial to the sector. Overall, a 7.5/10 budget, plus brownie points for the FM for focus on reading, upskilling, and AI!” Dr. Prabhat Ranjan, Vice Chancellor, D Y Patil International University (DYPIU), Akurdi, Pune says, “We are in the age of Artificial Intelligence (AI) and it has now moved from the hands of experts to common people with generative AI e.g ChatGPT. I am happy

Industry Leaders shares their reaction to the Union Budget 2023 Read More »

Govt to provide sickle cell anaemia status cards to tribals below 40

admin / Health & Wellness Community

Health Minister Mansukh Mandaviya said on Wednesday that tribals under the age of 40 will be given cards stating their sickle cell anaemia status and pre-marital counselling regarding the risk of their child to get the disease if they marry another person who has the disease. After the presenting of the Union Budget, Mandaviya declared that the government will take on the eradication of sickle cell anaemia as a mission and perform extensive screening in the afflicted tribal areas for the early discovery of cases. According to Mandaviya, the tribal population in India and other vulnerable populations are frequently affected by the genetic disease, Sickle Cell Disease (SCD). “Going forward, the government will also issue cards after screening to tribal persons below 40 years affected by the disease mentioning their sickle cell anaemia status and also provide premarital counselling to make the patients aware of the detrimental effects of the disease if they marry another sickle cell anaemia patient and give birth,” he said. The aim of the screening is to lower the disease’s prevalence. A strategy for screening about 7 crore people under the age of 40 in 200 districts with the most affected residents has been developed by the Union Health Ministry in consultation with the tribal ministry and the states. The rapid “point of care” histological test, which just requires blood, will be used for the screening. According to Mandaviya, the establishment of 157 new nursing colleges in conjunction with the 157 medical colleges that have already been operating since 2014 is another significant health-related highlight of the budget. A mission will be launched to eradicate sickle cell anaemia by 2047, according to Finance Minister Nirmala Sitharaman, who made the announcement earlier on Wednesday when presenting the Union Budget for 2023–2024 in the Lok Sabha. “A mission to eliminate sickle cell anaemia by 2047 will be launched. It will entail awareness creation, universal screening of seven crore people in the age group of 0-40 years in affected tribal areas and counselling through collaborative efforts of central ministries and state governments,” she said.

Govt to provide sickle cell anaemia status cards to tribals below 40 Read More »

Physics Wallah to expand its workforce by 2500 across verticals

admin / Human Resource Community

At a time when other edtech firms are significantly cutting back on staff, Physics Wallah, the unicorn edtech company, is hiring. Over the following two months, the company plans to add around 2,500 more employees to its workforce. It seeks faculty members, teachers, consultants, business analysts, data analysts, operations managers, and batch managers. In accordance with its growth plans and objectives, the company is apparently hiring for a variety of roles and responsibilities. The company is looking for individuals who share PW’s vision of offering “affordable and quality education for all” and who can be a student’s lifelong learning partner. In an effort to broaden its upskilling offerings, the Company recently acquired iNeuron, an edtech company with a focus on artificial intelligence (AI) and data science, in a deal worth Rs 250 crore. With a workforce of 6,500 employees, including more than 2000 teachers and subject experts, PW dodged downsizing like many other edtech companies. To strengthen its supply chain operations, the edtech platform has partnered with Unicommerce to deliver study materials. PW, which caters students of class 6 to 12, also provides materials for students hoping to take competitive exams like the NEET and JEE. Thousands of students throughout India rely on its content and study materials.

Physics Wallah to expand its workforce by 2500 across verticals Read More »

Prof Dr. Ankit Gandhi, Pro Vice-Chancellor, University of Technology, Jaipur highlights the importance of EdTech collaboration with universities

admin / Interviews

“It is playing a very vital role and it is in fact transforming the education scenario and giving a great learning experience as well for the students,” says Prof Dr. Ankit Gandhi, Pro Vice-Chancellor, University of Technology, Jaipur in an interview with Chandan Anand, CEO & Group Editor, ArdorComm Media Group at the ‘ArdorComm New Normal – Education Leadership Summit & Awards 2022’ #ELSAJaipur #ELSARajasthan We welcome you at today’s forum Dr Ankit. Thank you so much, I am Dr Ankit Gandhi and I am working as a pro Vice Chancellor with University of Technology, it is a new University I would rather say we started functioning in 2017, though the group which is supporting our University that is into education domain for the last 46 years but the university is the latest venture and it started functioning in 2017 with the name of University of Technology. Would you like to highlight a bit more about your University, how many students are there and what special initiatives in technology which your University is doing? Currently we are running in the University, we call different schools, so we currently have eight different schools in our University, alphabetically I’ll come to, number one is School of Agriculture this is the first and we are a university wherein students who are admitted in agriculture courses that we are running is BSC in agriculture MSC and PhD courses and they are all admitted through JET this is joint entrance examination which is conducted by a state university for agriculture admissions. The second is we have School of Commerce and Management wherein we are running BCom and MBA programs so we have commerce and management at both undergraduate, postgraduate and at PhD level. Third we have School of Engineering and Technology wherein we are running a BTech, MTech and PhD program, fourth we have School of Law in which we are running BALLB, LLB and another program. Next, we have we call it Department because we have got two faculties or two different schools for the pharmacy so we have Department of Pharmacy with an intake of 60 student and another we have started with this academic year with the name of Faculty of Pharmacy with department of Pharmacy we are offering BPharm courses and with faculty of Pharmacy we are offering Pharmacy courses. We have School of Humanities and Social Sciences wherein we are offering BA, MA and Library Sciences courses. We have very recently added School of Education and we have started courses in special education so we are offering special education courses mainly into HI and last but not the least we have Department of Vocational Studies wherein we are offering BVoc and MVoc courses. So, these are the eight different schools wherein we are offering a right from undergraduate to PHD programs. How does the EdTech collaboration helps in making a digital infrastructure of your University? When we talk about EdTech collaboration so this education technology plays a very crucial role both into academics and into administration. For academics in our University as well we have got a collaboration with certain EdTech companies that helps in delivering us a wonderful content and that is delivered in a way which is very student friendly, they learn the things in a way which is like we generally say it for KG students in the fun loving activity, so in a mode of animation and some sort of a dynamics that they play, students are able to learn more and more things in their classroom at the same time as I mentioned we use this EdTech collaboration into administration as well so for ERP implementation, for admissions and even we are in a conversation with EdTech company for digitalizing our degrees and diploma as well using the blockchain technology. So, that is into administration part, so whether it is education or it is administration in both part we are taking help from the EdTech collaboration and it is playing a very vital role and it is in fact transforming the education scenario and giving a great learning experience as well for the students. What are the takeaways of this forum for you? Great, it has been a wonderful opportunity and thank you so much to the organizers for giving this platform to all the conglomerate of education industry to this platform. Rajasthan and especially Jaipur is a hub of Education institutions but still maybe for certain conventional reasons professors they generally do not move out of this place. So, I think this platform is going to give a great opportunity for the professors and the leaders of the universities as well so that they can collaborate with these companies and pass on the benefit of this collaboration to the one who is at the bottom of this pyramid, that is students so they can all be benefited by this collaboration. Any message for ArdorComm Media Group? I would like to say thank you so much Chandan ji for this wonderful platform that you have provided and the simple message is please keep organizing these sorts of events in future and we look forward to meeting you once again.

Prof Dr. Ankit Gandhi, Pro Vice-Chancellor, University of Technology, Jaipur highlights the importance of EdTech collaboration with universities Read More »

Dr. Sandeep Tomar, Registrar, Bhartiya Skill Development University, Jaipur speaks about the university

admin / Interviews

“We are running 11 schools right now starting from the manufacturing, electrical, renewable energy and automobile,” says Dr. Sandeep Tomar, Registrar, Bhartiya Skill Development University, Jaipur, Rajasthan in an interview with Chandan Anand, CEO & Group Editor, ArdorComm Media Group at the ‘ArdorComm New Normal – Education Leadership Summit & Awards 2022’ #ELSAJaipur #ELSARajasthan Would like to understand and know more about Bhartiya Skill Development University? Bhartiya Skill Development University is a totally different type of University you can say this is not a conventional one, it is based on skill education and it is a great platform for the youth of India just to understand how we can have a real education system because every time we are talking about a gap that the industries are saying the youth from the conventional industry after the graduation or the post-graduation they are not employable. So, there is a big gap every time we are talking there is a big gap in the industry and the academia, so several things happen but still the industries are in the same sake that there is a big gap and what this big gap can be filled by is through the skill education I think, because if you’re asking that in the foreign countries like Germany, Japan and everywhere they have a more than 60 to 70 percent of the Skill education, but in India it is hardly five to ten percent. Even Prime Minister Modi also emphasizes that we have some skill education as India is going to be the next youth country for that we need skilled manpower everywhere. So, that’s why this University is totally a different setup and we can say in the starting of 2017 only with the vision of Swiss industrialist who was associated with Rajasthan, Rajendra and Ursula Joshi Foundation. This is the foundation and we have a Swiss dual system of the education, so we are running the B. Voc. and M. Voc. courses in our University and B. Voc. is a three-year degree course and M. Voc. is of two-year degree course. So, the uniqueness of this course is that in B. Voc. alternate semester students are sent for the industrial training. So, in the first semester if they are on a campus the second semester they will spend in the industry then again third semester they will be here at the campus fourth semester like this alternate. So, you can see in a three-year degree course they will have a one and a half year of industrial experience and the course is designed in such a way, that it focuses on the industry need. So, this is one of the kinds of education, within a three year the student is ready directly as a skilled Manpower for the industries. So, we are running 11 schools right now starting from the manufacturing, electrical, renewable energy and automobile. It is now the time to change the mindset of students and parents because in conventional if you are asking me that most of the universities are talking about the computer science only rest of the core branches are going down. But the need of the hour or the future of the universities are lying in somehow with the skill education. So, even the government is doing every state government is trying to start something for this skill, National Skill Development Council. Many efforts are taken by every state government but the university is a role model for all the new universities those are coming in the states and most of the people are visiting the BSDU first and they are just trying to set up their University in their state and the second most important thing is how to connect with the industry even we are running the courses for the training of the trainers which we call the TOT programs. So, in the TOT programs most of the universities are saying or even you can say that most of the industries want that their employees should be upscaled on that one. So, for the upskilling or you can say that an education system most of the ITs they are running right now the employees also need to be upskilled on that one. So, this program is uniquely designed for as per the requirement of the industry and as per the requirement of the educational institution. So, right now if we are talking that BSDU have a good connection of all the type of the industries and we are running the courses for the JCB and for Hilti and for Mazak they are the big companies, so their employees are coming to the university and they have a one month to three-month courses for them. So, first they will be trained here and they are just going back to the plant after that one so Mazak is a Japanese company which is going to have the plant here in India and they are they are recruiting the employee first one and a half month they spent here in BSDU and the one half month in the Japan and then they will go to the plant like that in the same way the Hilti is doing that well so Hilti is coming with a big plant in Gujarat and they are going to recruit the people so the people first they recruited they will send to the BSDU for one and a half month and later on they will just join the plant so like that this good industry connect is required. How does certain forums help as overall education community where we see the technology partners, startup companies, academicians, educators, even some of the representations from the government? As the execution system is going to completely change now, we have seen the two years was too bad for everybody but somehow this is just a new learning for that one. This covid time every time we are thinking how the education system will survive but these

Dr. Sandeep Tomar, Registrar, Bhartiya Skill Development University, Jaipur speaks about the university Read More »

Budget Highlights 2023: Significant changes to the income tax; Railways and Capex get massive boost

admin / Governance Community

Nirmala Sitharaman, the finance minister, began the presentation of the last full budget of the Modi government with the statement “This is the first Budget of Amrit Kaal.” According to the FM, the Indian economy is recognized as a bright spot worldwide. India’s growth in the current fiscal year was the highest among major economies at 7%. Sitharaman stated in her budget address that the Indian economy is on the right track and is poised for a bright future. She said that the Budget adopts the following seven priorities. They complement each other and act as the ‘Saptarishi’ guiding us through the Amrit Kaal. 1) Inclusive Development 2) Reaching the Last Mile 3) Infrastructure and Investment 4) Unleashing the Potential 5) Green Growth 6) Youth Power 7) Financial Sector The per capita income has climbed to Rs 1.97 lakh. During the same period, India’s GDP increased from 10th to 5th largest in the world, according to Sitharaman’s speech during the Union Budget. The introduction of Budget 2023 coincides with the crippling slowdown and potential recession that affect the world’s major advanced economies. For the first time ever, Indian Railways has received a capital outlay of Rs. 2.40 lakh crore. According to Sitharaman, this is the railways’ highest capital outlay. Nirmala Sitharaman, disclosed a significant increase in capital expenditure. The amount allocated for capital expenditures has increased by 33% to Rs 10 lakh crore in the Union Budget. This equates to 3.3% of the GDP. The FM also disclosed a significant expansion of the PM Awaas Yojana. Sithraman mentioned the continuance of the food security programme for another year in her statement on the budget. She also announced actions for agri startups, fisheries, and launched a programme for primitive, vulnerable tribal groups. Major announcements for Income Tax payers: No changes in the old tax regime New tax regime to become the default tax regime No tax on income up to Rs 7.5 lakh a year in new tax regime Govt proposes to reduce highest surcharge rate from 37% to 25% in new tax regime New slabs under new tax regimes Rs 0-3 lakhs: Nil Rs 3-6 lakhs: 5% Rs 6-9 lakhs: 10% Rs 9-12 lakhs: 15% Rs 12-15 lakhs: 20% Rs Over 15 lakhs: 30% Govt proposes to cap deductions from capital gains on investments in residential houses to Rs 10 crore An individual with annual income of Rs 9 lakh will have to pay only Rs 45,000 in taxes: FM Sitharaman Income of Rs 15 lakh will fetch Rs 1.5 lakh tax, down from Rs 1.87 lakh A Rs 50,000 standard deduction to taxpayers has been introduced under the new regime Payment received from Agniveer Corpus Fund by Agniveers to be exempted For online games, govt proposes to provide for TDS and taxability on net winnings at the time of withdrawal or at the end of fiscal Fully imported luxury cars and EVs to cost more as govt raises custom duty from 60% to 70% in Budget. Tax exemption on leave encashment on retirement of non-government salaried employees hiked to Rs 25 lakh from Rs 3 lakh

Budget Highlights 2023: Significant changes to the income tax; Railways and Capex get massive boost Read More »

Union Budget 2023: Education Ministry receives the highest allocation ever of 1.12 lakh crore

admin / Education Community

The Union Budget 2023–24 was presented to the parliament on February 1 by Finance Minister Nirmala Sitharaman. According to budget documents, the centre has allotted a whopping Rs. 1,12,898.97 crore to the Ministry of Education for the upcoming fiscal year. This is the highest budget allocation ever given to the ministry. The Higher Education Department has been given a budget of Rs. 44,094.62 crore while the School Education Department has an allocation of Rs. 68,804.85 crore. For the financial year 2022–2023, the Education Ministry received a budgetary allocation of Rs. 1,04,277.72 crore. In engineering institutes, 100 labs will be set up for the development of apps using 5G services. Apps like Smart Classrooms, Precision Farming, Intelligent & Transports Systems, and others will be covered in these laboratories, among others. Nirmala Sitharaman stated that up to 38,000 teachers and support staff will be recruited over the course of the next three years for the 740 Eklavya Model Residential Schools that will serve 3.5 lakh tribal students. To empower youth and help them in realising their dreams…PMKVY 4.0 will be launched, adding 30 skill India international centres across states, to train lacks of youths over the course of the next three years. The minister of finance, stated that the National Child Trust, Children’s Book Trust, and other sources should be encouraged to provide and replenish non-curricular titles in regional languages and English to these libraries. She also suggested collaborating with NGOs that support literacy. Facilities at a few ICMR labs will be made accessible for faculty members from public and private medical colleges and private sector research teams to conduct research in an effort to promote collaborative research and innovation. Three centres of excellence in artificial intelligence will be established in top institutions. In the fields of health, agriculture, and sustainable cities, top industry leaders will collaborate to perform multidisciplinary research, create cutting-edge technologies, and find scalable solutions to issues. FM Sitharaman has announced the establishment of 157 new nursing colleges in core areas. A National Digital Library for children and adolescents will be established to make it easier to access important books from different regions, languages, genres, and educational levels. According to FM Sitharaman, states would be urged to create libraries for them at the panchayat and ward levels as well as infrastructure for accessing the National Digital Library’s resources. Innovative pedagogy, continuous professional development, curriculum transition, and ICT implementation are all expected to be used in teacher training programmes. According to FM Sitharaman, the district’s educational and training facilities would be transformed into vibrant institutes of excellence.

Union Budget 2023: Education Ministry receives the highest allocation ever of 1.12 lakh crore Read More »

Author name: admin