Budget Session LIVE: After tax cuts, all eyes on Finance Bill, new Income Tax Bill

 11:11 AM, 'Establishment of Centre of Excellence for AI will drive innovation'

According to Indranil Manna Vice Chancellor, BIT Mesra, Ranchi, "The much-awaited Union Budget 2025 delivers a promising roadmap for India's education sector. The establishment of a Centre of Excellence for AI in Education with an outlay of Rs 500 crore will drive innovation and cutting-edge research in artificial intelligence and emerging technologies." Manna added, "In addition, the expansion of infrastructure in IITs, allowing for 6,500 additional seats will further strengthen India's technical education ecosystem. We are also encouraged by the focus on skilling through five National Centres of Excellence and the Deeptech Fund of Funds, which will facilitate and empower our youth to lead in global technological advancements."10:50 AM'Budget 2025-26 a good step towards self-sustainability'According to Dr Abhinav Priyadarshi Tripathi, Associate Professor, Christ University, Delhi-NCR campus, "It’s high time to acknowledge that our Budget should incorporate global perspective. The way world politics is changing after Trump’s re-election, one has to push a substantial habit of consumption and earning to the biggest spender i.e. middle class of this country. This Budget is another step towards self-sustainability and a consumption and production-driven economy, especially when every seller is looking towards us with a bigger market." 10:27 AM'Efforts to simplify travel, improve connectivity commendable'According to Manoj Adlakha, Founder & CEO, RedBeryl™?, "The Union Budget for 2025-2026 brings promising developments for the tourism and hospitality sector, emphasising infrastructure development. A major initiative announced is the collaboration with states to develop the top 50 tourist destinations, set to significantly boost tourism. Hotels in these areas on the infrastructure harmonisation list opens up new avenues to improve the visitor experience. Efforts to simplify travel and improve connectivity are commendable. These measures will benefit young people, promote local businesses, and ensure travel is more accessible for everyone." He added, "Supporting start-ups through extended incorporation periods and setting up a new Fund of Funds will foster innovation and help business growth."10:25 AM 'Budget provides right resources, incentives for entrepreneurs to scale up' Speaking on Budget, Vibha Tripathi, Founder, Boon, said, "The Union Budget 2025–2026 has taken a significant step towards MSMEs and start-ups, providing easier access to funding required for growth and innovation while also increasing micro-enterprise loan guarantee coverage. The focus on start-ups is also encouraging, with the rise in credit guarantee cover to Rs 20 crore and the establishment of a Rs 10,000 crore Fund of Funds, signaling a strong commitment to innovation." She added, "The Clean Tech Mission is an excellent step for sustainable businesses, and the extension of the Jal Jeevan Mission to 2028 will provide tap water connections to 15.43 crore rural households, significantly improving the quality of life for many." 10:21 AM'Allocation for AI Centres of Excellence a transformative move' Speaking on the Budget, Monica Malhotra Khandari, MD, AASOKA, said, "We applaud the government’s visionary initiatives in education and skilling. The Rs 500 crore allocation for AI Centres of Excellence in Education marks a transformative move towards making learning more adaptive and future-ready." She added, "Our platforms are already offering valuable resources, and the government’s Bharatiya Bhasha Pustak scheme will further amplify the impact of online learning. Moreover, the establishment of 50,000 Atal Tinkering Labs and the provision of broadband connectivity for all secondary schools will significantly enhance access to digital education. These steps, particularly in Tier 2 and Tier 3 cities, will fuel the growth of EdTech platforms, ensuring that quality education reaches every part of the country. Additionally, the creation of three AI-focused Centres of Excellence underscores the increasing role of artificial intelligence in shaping the future of education."

 

 -Business standard 03st February, 2025