Today, Tuesday, July 23, Finance Minister (FM) Nirmala Sitharaman presented the 2024-25 Budget. This thus, marks her seventh consecutive budget presentation and surpasses the previous record held by former Prime Minister Morarji Desai.
While presenting the budget, she said in the Lok Sabha that the people of India have reinforced their faith in the government led by Prime Minister Nrendra Modi for the third consecutive term. On the stability of the economy, she announced that India's economic growth continues to shine while the global economy is still under the throes of policy uncertainty.
While she mentioned that the country's inflation rate continues to be stable, and is moving towards 4 per cent, the rate of core inflation is at 3.1 per cent.
What is in there for the educational infrastructure?
FM Sitharaman on education, employment and skilling announced that Rs 1.48 crore will be allocated for the sector to upskill youth.
She said that the courses shall be aligned to meet the industry's needs, and new courses shall be introduced to fill in the skill gap, which is a requirement of the time.
She added that youth who could not benefit from the existing schemes would be given loans up to Rs 10 lakh for higher education in India.
In addition to this, she announced that a model skill loan scheme would be revised, which would facilitate loans up to Rs 7.5 lakh with a guarantee from a government-promoted fund. The measure is directed at helping 25,000 students every year.
