New Delhi, January 21, 2021:
Reduction in GST:
Currently, 18% GST on educational services is a burden on the consumers especially for technical and supplementary education. An average course which a consumer wishes to spend on 4-6 month of training is itself Rs. 35,000. This plus GST of 18% discourages many consumers to opt for learning and relearning. I would urge the government to reduce the GST from 18% to 5% on all educational services. This would encourage learning and create more skilled professionals.
Better financing models:
The government should move towards having better financing models and direct the banks to introduce new products apart from traditional educational loans. I would expect that a national institution or consortium should take this ahead as financing is a core need to increase skilling training adoption. This will generate more skilled professionals leading to a better economy. Although, NBFCs and new age institutions are trying to innovate and introduce new products, the coverage is still not optimal.
Real Time SME Job Portal:
We would also want a SME job portal being run in a Public Private partnership model. This portal should give real time visibility into jobs available with SMEs and skills required for the same. It is similar to airline inventory available in global distribution systems and there is full knowledge on inventory. In this case inventory means jobs available across SMEs. We need a central system to understand the real time job availability across SMEs.
Corporate Comm India (CCI Newswire)
