- By Ritesh Kumar
- Tue, 23 Jul 2024 12:23 PM (IST)
- Source:JND
Education budget 2024: The Union Budget for 2024-25 allocates Rs 1.48 lakh crore for education, employment, and skilling nationwide. Presenting the Budget in the Lok Sabha, Finance Minister Nirmala Sitharaman emphasised its focus on employment, skilling, MSMEs, and support for the middle class.
In a key initiative, she outlined government support for loans up to Rs 10 lakhs for higher education at domestic institutions. Moreover, she highlighted a 30 per cent increase in the budget allocated for education, skilling, and employment initiatives.
Finance Minister Nirmala Sitharaman says, "I am happy to announce the Prime Minister's package of 5 schemes and initiatives to facilitate employment, skilling and other opportunities for 4.1 crore youth over 5 years with a central outlay of ₹2 lakh crores. This year we have made a provision of ₹1.48 lakh crores for education, employment and skilling..."
Under the newly announced Prime Minister's initiative, a new centrally sponsored scheme will be launched, focusing on skilling in collaboration with state governments and industries. Over the next five years, students will participate in skill development programs. Financial aid will be provided specifically to support young individuals who have not previously qualified for benefits under existing government schemes or policies for higher education.
