Finance Minister Nirmala Sitharaman will present the Union Budget 2026-27 on Sunday, February 1 . Ahead of this event, key professional organizations and education-financing firms have called for critical policy changes. These include a stronger upskilling framework, development of an AI-ready workforce, and simplified access to education loans for students.
Budget Allocations for Education
The previous Union Budget 2025-26 saw an allocation of Rs 1,28,650.05 crore to the education sector. This amount marked a 6.65% increase compared to the financial year before. Sitharaman delivered her eighth consecutive Budget presentation last year, setting a near-record for the finance ministry.
Expert Calls for Workforce Readiness
The Association of Chartered Certified Accountants (ACCA), a global professional accounting body, emphasized a need for high-quality professional education. ACCA advocates for education aligned with global standards and strong collaboration between industry and academia. The body has 2,57,900 members and 5,30,100 future members across 180 countries .
Md. Sajid Khan, ACCA Director for India, stated that strengthening India’s financial and economic ecosystem requires investing in future-ready talent. Khan pointed out the rapid transformation occurring in the accounting and finance profession. This shift is driven by digitalization, sustainability reporting, artificial intelligence (AI), and evolving global compliance standards.
ACCA specifically seeks budget measures that support high-quality professional education and robust industry-academia ties. Khan added that incentives for skill-based learning, digital upskilling, and facilitating the global mobility of Indian professionals are crucial. These initiatives would position India as a global hub for finance and accounting talent, address existing skill gaps, and improve employability.
Challenges in Education Financing
WeMakeScholars, a platform supporting Indian students with education loans and financial guidance, highlighted significant gaps in credit access. The organization acknowledged India’s impressive focus on startups and skilling initiatives. However, it identified a critical shortfall in how students, who ultimately power these sectors, are funded.
WeMakeScholars argued that education loans are often perceived as a luxury or “discretionary credit.” This contrasts with their role as strategic infrastructure for national development. The platform reported that less than 15% of Indian students can access formal credit for their education. This access issue represents a “talent bottleneck,” rather than solely a banking problem.
The organization also challenged the existing 5% Tax Collected at Source (TCS) on remittances for international studies. WeMakeScholars called for the government to rationalize this TCS and expand interest subsidies. Such measures would alleviate cash-flow pressures on middle-class families. The platform stressed that funding for a competitive workforce must be as ambitious as the nation’s goals.
Overview of the Budget Session
This upcoming Budget presentation will be Nirmala Sitharaman’s ninth. It positions her one short of former Finance Minister Morarji Desai’s record of 10 Budgets. Uniquely, Sitharaman is set to present the General Budget on a Sunday.
The Parliament’s Budget session begins on January 28 . President Droupadi Murmu will address members of both Houses. The first phase of the session is scheduled to conclude on February 13 . Parliament will reconvene on March 9 , allowing time for detailed scrutiny of the Budget proposals.