Budget expectation: NIIT seeks steps to help make education and skilling more affordable to masses

New Delhi: NIIT, a company offering learning management and training delivery solutions to corporations, is expecting some of the measures such as equal distribution of the resources and specific incentives to boost the start-up sector to be taken in the upcoming Union Budget for better growth of the education sector.

Budget 2016 is crucial for the Education & Training sector, according to a statement issued by NIIT CEO Rahul K Patwardhan.

"Online education is a fast growing global growth arena, both in formal education and vocational training. We hope that the government will introduce measures to ensure a level playing field for the highly regulated Indian online education and training companies against the much larger funded global players who are entering the Indian market aggressively, in an unregulated manner as far as Indian taxation regime is concerned," Patwardhan said.

He also said he hopes that the Finance Minister will announce specific measures in the Union Budget to help make education and skilling more affordable to the masses.

Skill India and Digital India are two key and highly ambitious initiatives of the government, and in the forthcoming budget he expects specific Indirect tax rebates for the companies and its partners who are working towards making these initiatives a success.

"Government has set an ambitious target of skilling 500 million people by 2022. In a country where less than 4% of the population are formally skilled, FM needs to substantially increase fund allocation to the sector to draw youth to the skilling programmes," he said.

Patwardhan is also expecting specific incentives and policy framework to boost the start-up sector by announcing tax rebate and allocating more funds for the development of the sector.

Talking about the contentious GST Bill, he said, "GST is another much awaited Indirect tax reform, which will boost the economy. We are expecting a firm roadmap from the Government for its implementation. We also hope there would be changes in the Income Tax policy frame that will allow us to get quick refund for the excess taxes paid."