India stands at a demographic turning point. By the end of this decade, the country will possess the largest youth population in the world. In policy discourse, this is often celebrated as a demographic dividend. But demographic advantage is not automatic; it depends on whether young people can translate education into productive employment. The expansion of education spending and reforms under the National Education Policy 2020 (NEP 2020) aim precisely at strengthening India’s human capital base. The real question, however, is whether expanding education alone can deliver economic opportunity when job creation itself remains uneven.

Recent Union Budgets reflect an ambitious push to modernise India’s education system. The Union Budget 2025-26 allocated around `1,28,650 crore to education, prioritising infrastructure and digital access. Initiatives included broadband connectivity for schools, the expansion of Atal Tinkering Labs, digital learning materials in Indian languages and new infrastructure for the Indian Institutes of Technology. The following year, the Union Budget 2026-27 increased allocations to `1,39,285.95 crore, an increase of about 8.27%. New proposals included girls’ hostels in every district, university townships, specialised institutes in healthcare and pharmaceuticals, and a committee focused on “Education to Employment and Entrepreneurship.” ( https://www.indiabudget.gov.in). State governments have also expanded spending. Uttar Pradesh, for example, allocated `80,997 crore to basic education while increasing investment in vocational programmes, smart classrooms and artificial-intelligence laboratories. These initiatives suggest that governments are trying to align education with emerging technological and knowledge sectors.

The broader policy framework guiding these reforms is NEP 2020, which seeks to transform the education system through multidisciplinary learning, flexibility in degree programmes and greater emphasis on skills. One of its most ambitious goals is to raise the Gross Enrolment Ratio (GER) in........

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