• Source:JND
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Education Budget 2024: Finance Minister Nirmala Sitharaman has begun delivering the Budget 2024. She declared that the Centre would contribute Rs 1.48 lakh crore for education, employment, and skills. Financial assistance for loans of up to Rs 10 lakh would be provided to students pursuing higher education at local institutions. A new centrally financed skill-building program in partnership with state governments and industries. Over the next five years, approximately 20 lakh young people will be skillfully trained.

Finance Minister Nirmala Sitharaman stated in the February 2024 Union Budget that the National Education Policy (NEP) 2020 has led to a growth in higher education institutes and women in STEM courses over the past decade.

Nevertheless, in an unexpected decision, UGC funding was reduced by 60.99 per cent, to Rs 2,500 crore from the previous year's revised estimate of Rs 6,409 crore. On the other hand, grants to central institutions increased by more than Rs 4,000 crore, with Rs 15,928 crore set aside for the fiscal year 2024-25.

The Education Ministry's overall budget allocation for 2024-25 grew by 6.8 per cent to Rs 1,20,627.87 crore, up from Rs 1,12,899.47 crore in 2023-24.

Finance Minister Nirmala Sitharaman unveiled the Union Budget 2024, stating that working women's dormitories would be built. The provision of hostels and creches will encourage a high degree of participation from working women. The present government plans to execute a National Cooperation Policy to enhance general growth, as well as provide financial assistance through loans.

The Finance Minister further stated that the Budget includes more than Rs 3 lakh crore in funding for women and girls initiatives. Sitharaman presented the Union Budget for 2024-25 in the Lok Sabha, stating that it demonstrates the government's commitment to increasing women's participation in economic development. "For promoting women-led development, the Budget carries an allocation of more than Rs 3 lakh crore for schemes benefitting women and girls," she told reporters.

Sitharaman stated that the government will establish working women dormitories to encourage their participation in the workforce.

The government plans to establish working women's hostels to encourage women's participation in the workforce. As stated in the interim budget, there is a need to focus on the poor, women, youth, and farmers, she said, adding: "We will facilitate higher participation of women in the workforce by establishing working women hostels in collaboration with industries and creches. Additionally, the partnership will seek to organise women-specific skilling programmes and promote market access for women SHG enterprises."