3. Bring more focus on the edtech sector

The edtech sector in India has been exponentially growing especially during the pandemic when the entire world moved towards digitalisation. The industry, which attracted a lot of private players like Byju’s, Vedantu, UpGrad and many more, is poised to become a $30 billion in size in the next ten years, according to a report by advisory firm RBSA Advisors cited by the Economic Times.

Education Minister Dharmendra Pradhan, on January 3, 2022, said that the Ministry of Education is in talks with the Ministry of Law and Ministry of Electronics and Information and Technology to work out a common policy to regulate the edtech sector in India as it has been gaining traction from the past two years.

The edtech players in the market are expecting the Budget 2022-23 to have higher focus on the edtech sector and are also expecting to bring down the GST slab on educational services.

“The 2022 budget is expected to have a higher focus on the edtech sector as a whole, with significant investments to enhance greater access to robust and improved digital infrastructure. The GST for educational services is expected to be brought down to 5% from the existing 18%, to increase accessibility and feasibility for students from lower and middle-class families. With greater internet penetration, the upcoming budget is expected to announce various initiatives to accelerate digital innovation in the edtech sector,” said Vaibhav Singh, co-founder of Leap Scholar, an online platform which provides guidance and coaching for study abroad.