Budget 2024, Finance Minister Nirmala Sitharaman introduces e-vouchers for up to Rs. 10 lakh loans, aiming to support 1 lakh students annually.
The Union Finance Minister Nirmala Sitharaman presented the full – budget 2024 today before the parliament at 11 am.
Nirmala Sitharaman announced to give e-vouchers for loans up to Rs. 10 lakh for higher education in domestic institutions to be given directly to one lakh students each year for annual interest subvention of 3 per cent of loan amount.
The central government offers education loans up to 10 lakh to eligible individuals. Those who are not eligible for any other government schemes or policies can avail of this loan for higher education in the country.
The central government will also provide e-vouchers for loans up to Rs 10 lakh for higher education in domestic institutions to 1 lakh students every year for annual interest subvention of 3% of loan amount.
Notably, For the Union Budget 2024-25, the Finance Minister confirmed an allocation of Rs 1.48 lakh crore for education, employment, and skilling across the country. Last year, the government allocated Rs 1, 12,898.97 crore to the education sector.
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