Tech
EU Budget 2024-25: Key Expectations for Education, Startups and Crypto Leaders
Pune: As the 2024-25 Union budget approaches, various sectors are expressing their hopes and expectationsreflecting a collective desire for continued support and development in key areas such as education, technology, recruitment, startups and cryptocurrency.
Education sector
Dr Anunaya Chaubey, Chancellor, Anant National University, stressed the importance of continued support for higher education, which was one of the highlights of the Interim Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman.
Dr. Chaubey hopes that the final budget will continue to focus on promoting critical thinking and creativity in line with NEP 2020. He advocates for financial aid that supports teaching methods that foster these skills in school students, along with an interdisciplinary understanding of community, technology integration, and problem-solving skills.
A specific recommendation from Dr. Chaubey is to provide funding for collaborations between design schools and universities. He also calls for financial support for technological innovations through partnerships between ed-tech companies and higher education institutions.
This, he said, will prepare a tech-savvy workforce ready to thrive in a competitive market. Improving collaboration between industry and academia is also critical to better align academic programs with the changing labor market, and prioritizing financial support for these collaborations will help build strong connections between educational institutions and industries.
Recruitment & Startup
Manikanth Challa, Founder and CEO of Workruit, highlighted the anticipation of the recruitment and startup ecosystem for further advancements in technology and innovation.
Reflecting on the past few years, when artificial intelligence and machine learning have revolutionized the hiring process, Challa hopes the next budget will continue to support digital infrastructure and technology-based solutions that streamline recruitment and drive business growth.
Challa is particularly interested in investing more in AI research and development, enhancing talent acquisition and improving candidate matching.
It highlights that many colleges and educational institutions still lack adequate technology, infrastructure and resources, such as outdated computer labs, limited access to high-speed Internet and insufficient training programs for both students and faculty.
Closing these gaps is essential to preparing students for a technology-driven job market. Challa urges the government to prioritize substantial investments in educational technology and infrastructure in the next budget.
Cryptocurrency
Edul Patel, CEO and co-founder of Mudrex, spoke about the evolution of the crypto regulatory landscape in India. From severe penalties to a 30 percent tax on cryptocurrency transactions, and now, SEBI’s opening up to oversee cryptocurrency trading, there has been significant progress towards regulatory clarity.
Patel expects the new government to address critical challenges faced by cryptocurrency investors, particularly the 1 percent TDS on every transaction and the current inability to offset losses with gains. Addressing these issues could create a more conducive environment, encouraging innovation and growth within the industry.
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