As the financial year 2023-24 approaches, concerns are arising over the budget allocation for the education sector.
The budget allocation was a subject of discussion among students from Dhaka University, technical institutes, and madrasas.
Iman Islam, a third-year student majoring in accounting at Dhaka University, expressed his thoughts: “Although the budget allocation for the education sector has increased compared to last year's figures, in the proposed budget, it stands at 1.76 percent of the GDP. While the monetary value has risen compared to last year, it has not increased in real terms. The education sector must receive a larger share of the GDP to effectively address the current challenges.”
Abu Bakr Siddiq Riyad, a third-year student of DU’s Mass Communication and Journalism department, emphasized the importance of prioritizing the education sector.
He remarked, “To keep pace with the rapidly evolving world, the education sector needs better organization and increased attention. Budget allocation should be augmented accordingly.”
Siddik Faruk, another third-year student from Dhaka University, highlighted the disparity between the ideal and actual budget allocation for education.
“Ideally, 20 percent of the total budget should be allocated to the education sector. However, our country currently only allocates around 10 percent. This must be increased gradually to meet the needs of our economy and ensure progress in the knowledge-based economy of the future,” he said.
As the country strives for a knowledge-based economy, it becomes imperative to prioritize and adequately fund the education sector. The allocation for research in universities should also be increased to promote innovation and advance the nation's progress, he added.
The insufficient budget allocation not only affects general education but also hinders technical education.
Kazi Shahadat Hossain Shakib, who recently completed his diploma from Chittagong Polytechnical Institute, emphasized the significance of technical education in a rapidly advancing world.
He said, “Technical education is crucial for keeping up with the times and contributing to the development of a digital Bangladesh. Increased budget allocation and incentives are necessary to make technical education more practical and to update outdated equipment.”
The students' collective sentiment underscores the urgent need for a higher allocation in the education sector, considering the rising inflation and the challenges students face in meeting their daily needs.