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<p>The Union Budget for the fiscal year 2024-25 will provide Rs 1.48 lakh crore (1,768.27 USD) for education, employment, and skilling in India. Presenting the budget in the Lok Sabha, Finance Minister Nirmala Sitharaman said that 20 lakh youth would be skilled over a five-year period, adding,&nbsp;that 1,000 Industrial Training Institutes (ITIs) will be upgraded in hub and spoke arrangements in five years.</p>

<p><strong><a href="https://www.wionews.com/india-news/union-budget-2024-live-updates-fm-sitharaman-will-present-the-union-budget-in-parliament-changes-in-tax-slabs-743214">Click here to follow all updates on the India Budget 2024</a></strong></p>

<p>Sitharaman said that&nbsp;the model skill loans scheme would be revised to facilitate loans up to Rs 7.5 lakh (6,27,70,125.00 USD) with a guarantee from a government-promoted fund. "This measure is expected to help 25,000 students every year."</p>

<h2><strong>Education loans</strong></h2>

<p>She added that the central government would provide support&nbsp;up to Rs 10 lakhs (11,948.85 USD) for higher education in domestic institutions.</p>

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<p dir="ltr" lang="en">Union Budget 2024-25 proposes Prime Minister's Package in a boost to skilling:<br />
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✅ Skilling Programme &amp; Upgradation of Industrial Training Institutes<br />
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✅ Internship in Top Companies <a href="https://twitter.com/hashtag/Budget2024?src=hash&amp;ref_src=twsrc%5Etfw">#Budget2024</a> <a href="https://twitter.com/hashtag/BudgetForViksitBharat?src=hash&amp;ref_src=twsrc%5Etfw">#BudgetForViksitBharat</a> <a href="https://t.co/9QzAKjJG49">pic.twitter.com/9QzAKjJG49</a></p>
— Ministry of Finance (@FinMinIndia) <a href="https://twitter.com/FinMinIndia/status/1815633281687388364?ref_src=twsrc%5Etfw">July 23, 2024</a></blockquote>
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<p>Expanding on this point, the finance minister said that&nbsp;e-vouchers for this purpose will be given directly to 1 lakh students every year for annual interest subvention of 3 per cent of the loan amount.&nbsp;</p>

<h2><strong>Employment of youth over next 5 yrs</strong></h2>

<p>During her budget speech, Sitharaman proposed the creation of employment for about 4.1 crore youth over the next five years. And towards this, the finance minister has made an allocation of Rs 2 lakh crore.</p>

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<p dir="ltr" lang="en">VIDEO | Budget 2024 Speech Highlights: "Internship in top companies - As the fifth scheme under Prime Minister's package, our government will launch a comprehensive scheme providing internship opportunities in 500 top companies to one crore youth in five years. They will gain… <a href="https://t.co/GDAr3LQHyw">pic.twitter.com/GDAr3LQHyw</a></p>
— Press Trust of India (@PTI_News) <a href="https://twitter.com/PTI_News/status/1815634931931922809?ref_src=twsrc%5Etfw">July 23, 2024</a></blockquote>
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<p>Sitharaman also said that the government would launch internship opportunities in 500 companies for 1 crore youth over the next five years. Interns would get exposure to real-life environments and an allowance of Rs 5,000 per month.</p>


The Union Budget for the fiscal year 2024-25 will provide Rs 1.48 lakh crore (1,768.27 USD) for education, employment, and skilling in India. Presenting the budget in the Lok Sabha, Finance Minister Nirmala Sitharaman said that 20 lakh youth would be skilled over a five-year period, adding, that 1,000 Industrial Training Institutes (ITIs) will be upgraded in hub and spoke arrangements in five years.

The Union Budget for the fiscal year 2024-25 will provide Rs 1.48 lakh crore (1,768.27 USD) for education, employment, and skilling in India. Presenting the budget in the Lok Sabha, Finance Minister Nirmala Sitharaman said that 20 lakh youth would be skilled over a five-year period, adding, that 1,000 Industrial Training Institutes (ITIs) will be upgraded in hub and spoke arrangements in five years. Click here to follow all updates on the India Budget 2024 Sitharaman said that the model skill loans scheme would be revised to facilitate loans up to Rs 7.5 lakh (6,27,70,125.00 USD) with a guarantee from a government-promoted fund. "This measure is expected to help 25,000 students every year." Education loans She added that the central government would provide support up to Rs 10 lakhs (11,948.85 USD) for higher education in domestic institutions. Union Budget 2024-25 proposes Prime Minister's Package in a boost to skilling: ✅ Skilling Programme & Upgradation of Industrial Training Institutes ✅ Internship in Top Companies #Budget2024 #BudgetForViksitBharat pic.twitter.com/9QzAKjJG49 — Ministry of Finance (@FinMinIndia) July 23, 2024 × Expanding on this point, the finance minister said that e-vouchers for this purpose will be given directly to 1 lakh students every year for annual interest subvention of 3 per cent of the loan amount. Employment of youth over next 5 yrs During her budget speech, Sitharaman proposed the creation of employment for about 4.1 crore youth over the next five years. And towards this, the finance minister has made an allocation of Rs 2 lakh crore. VIDEO | Budget 2024 Speech Highlights: "Internship in top companies - As the fifth scheme under Prime Minister's package, our government will launch a comprehensive scheme providing internship opportunities in 500 top companies to one crore youth in five years. They will gain… pic.twitter.com/GDAr3LQHyw — Press Trust of India (@PTI_News) July 23, 2024 × Sitharaman also said that the government would launch internship opportunities in 500 companies for 1 crore youth over the next five years. Interns would get exposure to real-life environments and an allowance of Rs 5,000 per month.

India Budget 2024: Sitharaman allocates Rs 1.48 lakh crore for education, employment, & skilling

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India Budget 2024: Sitharaman allocates Rs 1.48 lakh crore for education, employment, & skilling