On Tuesday, Finance Minister Nirmala Sitharaman unveiled a significant financial support initiative for higher education loans up to Rs 10 lakh, aimed at domestic institutions.
In her Budget Speech for the fiscal year 2024-25, Sitharaman announced that the government would provide e-vouchers directly to 1 lakh students yearly, featuring an interest subvention of 3 per cent on the loan amount. This move is part of the government's efforts to make higher education more accessible and affordable for students nationwide.
Sitharaman began her seventh Union Budget presentation in the Lok Sabha at 11 am, outlining a comprehensive strategy to foster economic growth and development. The Budget for 2024-25 is centred around nine key priorities, each aimed at generating ample opportunities and driving progress in various sectors of the economy.
The nine priorities highlighted by the Finance Minister include productivity enhancement, job creation, social justice, urban development, energy security, infrastructure development, innovation, and sweeping reforms. These priorities are expected to create a conducive environment for sustainable growth and development, addressing the diverse needs of the Indian populace.
The focus on productivity and job creation underscores the government's commitment to boosting employment opportunities and ensuring economic stability. Social justice initiatives aim to provide equitable opportunities for all citizens, while urban development plans seek to modernize and improve city living conditions. Energy security measures are intended to ensure a stable and sustainable energy supply, and infrastructure development projects will enhance connectivity and support economic activities. Innovation and reforms will drive technological advancement and streamline administrative processes, fostering a more efficient and dynamic economy.
