06 September 2024
On the occasion of Teacher's Day, Alakh Pandey, founder and CEO of Physics Wallah, urged the government to reduce the Goods and Services Tax (GST) on the education sector and called for edtech companies to operate as non-profit organizations.
In an interview with ANI, Pandey emphasized the need for increased government spending on education, pointing out that the current allocation of 3-3.5 per cent of GDP is insufficient compared to many developed nations. "Increased government investment could boost the education sector's growth and heavy taxation on education in India is also one of the issues. In India, 18 per cent GST is imposed on education compared to China's 6 per cent, which includes private education," Pandey said.
On the occasion of Teacher's Day, Alakh Pandey, founder and CEO of Physics Wallah, urged the government to reduce the Goods and Services Tax (GST) on the education sector and called for edtech companies to operate as non-profit organizations.
In an interview with ANI, Pandey emphasized the need for increased government spending on education, pointing out that the current allocation of 3-3.5 per cent of GDP is insufficient compared to many developed nations. "Increased government investment could boost the education sector's growth and heavy taxation on education in India is also one of the issues. In India, 18 per cent GST is imposed on education compared to China's 6 per cent, which includes private education," Pandey said.
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