Finance Minister Nirmala Sitharaman unveiled the Union Budget 2024 in Parliament on Tuesday, July 23, 2024. She announced that the government will offer financial support for loans up to Rs 10 lakhs for higher education at domestic institutions.
Budget 2024 | On Education loans, FM Sitharaman says,”Govt to provide financial support for loans up to Rs 10 lakhs for higher education in domestic institutions.” pic.twitter.com/nH3daipqEW
— ANI (@ANI) July 23, 2024
During her Budget speech, the Finance Minister proposed updating the Model Skill Loan Scheme to benefit up to 25,000 students annually. As part of this proposal, e-vouchers will be issued for loans up to Rs 10 lakh for higher education in domestic institutions, with a target of reaching 1 lakh students each year. “Students can benefit from an annual interest subvention of 3 percent on the loan amount,” Sitharaman stated in Parliament.
On Tuesday, Finance Minister Nirmala Sitharaman began presenting her seventh Union Budget in Lok Sabha at 11 am.
In the Union Budget 2024-25, she outlined nine key priorities aimed at creating significant economic opportunities. These priorities are productivity, employment, social justice, urban development, energy security, infrastructure, innovation, and reforms.
