Budget 2026, NEP: How Indian students can save 20-40% on foreign education

The Union Budget 2026, announced on Sunday, has introduced significant changes aimed at easing the financial burden on Indian students pursuing education abroad. In a move welcomed by many, the government has reduced the tax collected at source (TCS) on funds sent overseas for educational purposes. This reduction is expected to lower the overall cost for students, potentially saving them between 20-40% on their foreign education expenses. In addition to the tax cuts, the budget aligns with India's National Education Policy (NEP) goals, which emphasize global exposure and learning opportunities. By making international education more affordable, the government aims to encourage more students to gain global perspectives and skills. This initiative not only benefits students but also positions India as a proactive player in the global education landscape. Furthermore, the budget's provisions extend to medical treatment abroad, offering similar financial relief. Experts believe these measures will lead to an increase in the number of Indians seeking education and healthcare services overseas, ultimately contributing to a more skilled and healthier population. As these changes take effect, students and their families can look forward to significant savings and new opportunities.

— Authored by Next24 Live