“Supporting the combination of digital and traditional education”

By Shashank Pandey, Co-Founder, ConveGenius – a social edtech startup,

Building a strong digital education ecosystem that enables skill building is a surefire way to combat the current pandemic. NEP-2020 initiated significant changes in our nation’s education system – it created a niche for EdTech, enabled flexibility in the learning curve, and emphasized blended learning. With the government’s many laudable steps to build an e-learning ecosystem, India still needs a lot to educate its young people, and the upcoming union budget could open doors for facilitators working diligently to bring educational equity. to this #NayaBharat. I hope the next EU budget will support the perfect mix of digital and traditional education and strive to encourage the uptake of emerging technologies. In addition, the government should make more efforts to engage in training sessions on artificial intelligence, machine learning and data science at the local level and build capacity and insight for technological areas of the new age in educational institutions.

Another important aspect to consider is the improved internet connectivity infrastructure across the country which promotes last mile access, affordable 5G devices and most importantly helps EdTech companies with strict privacy laws. Data protection.

By Madhu Agrawal, co-founder of Clever Harvey – a career exploration and acceleration startup,

The last two years of the pandemic have been full of ups and downs for many industries around the world and it goes without saying that the education industry is not spared either. Although Edtech has witnessed a significant boom, there are still some factors yet to be revisited by the Indian government in the upcoming Union budget that can help boost the Edtech industry which is the future of the education.

In our opinion, one of the main areas of concern for all edtech companies is the disparity in the GST treatment of printed education solutions versus digital education solutions. For example, a textbook is charged 5% GST while the same book in an online format is charged 18% GST. We have seen the potential of online educational materials increasing access to education and the quality of education. We expect this GST to be reduced so that more people can invest in digital education. We hope that the Indian government will reconsider this in the next budget announcement and put in place a fair and equivalent system for offline and online education providers.

By Sakshi Vij, Founder, Myles Cars – a car rental and car subscription platform,

Honorable Minister of Finance Smt. Nirmala Sitharaman should consider aggravating domestic demand by further encouraging individual and commercial EV consumption, across India. The global pandemic has shown that the world wants an alternative to China in the processed goods industry. India must seize this opportunity by creating an electric vehicle manufacturing hub. In Budget 2022, we expect the government to increase funding for EVs and introduce viable options for customers to use. More electric vehicles are expected to be available in India through preferential import taxation. Additionally, there is a need for an easier access window for startups that can easily address sustainability and climate change goals with government and decision-making bodies.

By Uttam Kumar, Co-Founder and COO, HungerBox – India’s first institutional food tech company,

The impact of the pandemic has rippled through all areas impacting the global economy, businesses across all sectors and the startup sector. F&B was particularly hard hit and the government tried to revive growth.

Double taxation was a significant challenge for small food vendors, and authorities sought to address this issue with the recent announcement of the GST. GST collections are likely to increase as a result of this move. We believe this can be a game-changer for the industry. The government has undertaken a gradual reduction in corporation tax. The government should accelerate this game plan.

We would like the government to simplify loan disbursements to MSMEs. Currently, asset-intensive MSMEs tend to receive loans faster, while those in the service sector find the process difficult. Moreover, to minimize NPAs, banks prefer already profitable MSMEs. This approach can be detrimental to stimulating entrepreneurship. Banks should identify new lending criteria such as last three months’ billings and ticket size of customer transactions. Nor should they limit lending to the value of collateral alone. We hope that the next union budget will reflect these policy changes to support the F&B sector.

By Ujjwal Singh, CEO and President, Infinity Learn,

To meet the growing demand for digital learning, the EdTech industry has embraced new technologies and resources. EdTech companies in India create effective solutions and serve as vehicles for socio-economic development and transformation through innovation and scalable technology. The use of technology in education, or digitization, has helped spread quality education across the country, especially in Tier 2 and Tier 3 cities. EdTech companies have helped democratize education. access to high quality education and improve student engagement using technological technologies. For its expansion, the industry is seeking government assistance. The rise of digital infrastructure is the top demand from the edtech sector. Due to infrastructure issues, Tier 3 and Tier 4 cities have struggled with online education.

We also expect the government to recognize Edtech as an industry group, allowing it to engage in the decentralization of learning at all levels and to reconsider the taxation of ESOPs. For a fair and equitable system for offline and online education providers, the government should reduce the GST on online learning and materials. Infinity Learn by Sri Chaitanya believes in harnessing educational technologies to meet the country’s ever-growing demand online and offline, as well as working with the government to reduce learning loss and develop a new India.

By Nitin Misra, co-founder, indiagold,

With the government making progress on several fronts, we are providing a policy framework in the budget that will enable FinTechs to work closely with relevant government institutions to improve the distribution and adoption of existing gold monetization systems, as well than to launch new products such as the gold savings account. . All compliances including incorporation, GST, other taxes, EPFO ​​and other registrations must be handled through one stop shop in India.

To boost entrepreneurship in India, the government should also allow entrepreneurs to defer their loss of earnings to offset their future earnings. In addition, the reduction in capital gains on mergers and acquisitions will promote the growth of the sector.

Comments are closed.