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Union Budget 2024 LIVE: ₹1.48 Lakh Crore Allocated for Education, Employment, and Skilling

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Synopsis:

Union Budget 2024 LIVE: Finance Minister Nirmala Sitharaman allocates ₹1.48 lakh crore for education, employment, and skilling. Key initiatives include education loans up to ₹10 lakh, new medical colleges in Bihar, and internships for 1 crore youth.

Allocation for Education, Employment, and Skilling

In the Union Budget 2024 speech, Finance Minister Nirmala Sitharaman announced a significant allocation of ₹1.48 lakh crore for education, employment, and skilling. This substantial investment aims to enhance the quality and accessibility of education, create job opportunities, and improve skill development across the country.

Higher Education Loans

A major policy introduced in the budget is the provision of education loans up to ₹10 lakh for students pursuing higher education in domestic institutions. This initiative is designed to make higher education more accessible and affordable, allowing students to pursue their academic goals without financial burdens.

New Medical Colleges in Bihar

The budget also includes plans to establish new medical colleges in Bihar, aimed at strengthening healthcare infrastructure and expanding educational opportunities in the region. This move is expected to address the shortage of medical professionals and improve healthcare services in the state.

Support for Working Women

To promote women's participation in the workforce, the government will set up working women hostels. These hostels will provide safe and affordable accommodation, enabling more women to join and remain in the workforce.

Youth Employment Initiatives

A significant initiative to boost youth employment was also announced. Over the next five years, the government will facilitate internships for 1 crore youth in top companies. These internships will provide practical work experience and skill development opportunities, with a monthly stipend of ₹5,000 to support the interns during their training period.

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This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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