In the upcoming budget the Edtech firms hopes for tax incentives to boost online learning.
The edtech firms expects to include the allocation of funds for Information and Communication Technology (ICT) infrastructure improvements and the development of digital teaching and learning resources. They also expect that the Central Government should accelerate global mobility of India’s young talent which includes inclusion of language skills and internationally recognized work skill certifications in Indian classrooms. Skills development enterprises, both public and private, must leverage globally benchmarked and recognised skills framework and certifications as these are valued by employers internationally.
One of the Edtech Firms pointed out that there is a critical need for an increase in grants and scholarships for Indian students, providing essential financial support to deserving students. Scholarships play a transformative role, offering support and opportunities for talented students facing financial constraints, to successfully pursue their academic journey. The Firms also expect a reduction or waiver in Tax Collected at Source (TCS) while remitting money for overseas education and ancillary activities will be a welcome sign. Lowering or waiving off TCS while remitting funds overseas for education will ease the burden on families and encourage more students to explore educational opportunities at a destination of their choice.
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