Budget 2017 Brings Good News for the Education Sector and Skills Development in India

February 28, 20178:49 am1005 views

2017 has indeed brought good news for the education sector in India. The main highlights of the budget were the introduction of 350 online courses and the allocation of roughly Rs 80,000 crore for the sector, which is about 10 percent higher than last year.

Sulekha’s recent study reveals that education in January 2017 has seen a considerable increase in demand, especially across three distinct categories. The study covers eight metros namely – Chennai, New Delhi, Kolkata, Mumbai, Pune, Bangalore, Hyderabad and Ahmedabad, and the search volume as recorded was 418,000 searches.Coaching_and_tuition_infographicIndia emphasizes on professional sports coaching, and the category sees a 150% increase in comparison to the same period last year. Chennai sees the highest number of sports coaching related searches for the month.

Of the eight metros above, Pune showed maximum interest in the professional coaching category with a city-wise growth of 277%.

See: Overall Hiring Activity in India Reported 2% Decline in January 2017

As an indication of approaching Entrance exams and strong inclination for professional education, the Engineering Tuitions and GATE coaching enquiries, increase by 97% and 117% respectively.

Home coaching related enquiries increase by 1.6 times, than January 2016. This growth figure indicates an emerging trend of finding home coaching as a safer and more appropriate option for children in the future.

Commenting on the Budget 2017 in India, presenting vast opportunities for growth, Ms. Achal Khanna, CEO, SHRM India told us earlier, “The budget for financial year 2017-18 is progressive as it touches every crucial segment of our economy, ranging from agriculture, affordable housing, and creating employment opportunities to public service, financial sector and tax administration. We believe that the proposal to allocate Rs 4,000 crore to launch Skill Acquisition and Knowledge Awareness for Livelihood Promotion programme (SANKALP) for training 3.5 crore youth is a major step. This will help our youth acquire the right skill sets and make them job ready.”

“A host of other key initiatives such as establishing 100 India International Skill Centres, special scheme for creating employment in leather and footwear sector, and launch of next phase of Skill Strengthening for Industrial Value Enhancement (STRIVE) will also go a long way in building confidence among the youth of the country.”

Also read: Increased Hiring Demand for Senior Professionals in India in 2017

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