Union Budget 2024-25: ₹1.48 Lakh Crore Boost for Education, Employment, and Skilling

Union Finance Minister Nirmala Sitharaman presented the Union Budget 2024-25 in the Parliament, marking her seventh consecutive budget presentation.

Union Finance Minister Nirmala Sitharaman today presented the Union Budget 2024-25 in the Parliament, marking her seventh consecutive budget presentation. This budget, the first under Prime Minister Narendra Modi's third term, focuses significantly on the education sector, with substantial allocations and initiatives aimed at enhancing education, employment, and skill development across the country.

Key Highlights from Union Budget 2024-25: Education Sector

Budget Presentation: Union Finance Minister Nirmala Sitharaman presented the Union Budget 2024-25 in the Parliament, marking her seventh consecutive budget presentation.

Total provision for education, employment, and skilling: ₹1.48 lakh crore.

Youth Internship Initiative:

1 crore youth to be provided internships in top 500 companies.

10% of training costs to be borne by industries through CSR funds.

Internship allowance: ₹5,000 per month.

One-time assistance: ₹6,000.

Financial Support for Higher Education:

Financial support for loans up to ₹10 lakhs for higher education in domestic institutions.

E-vouchers to be provided to 1 lakh students annually.

Interest subvention of 3% on education loan amounts.

Skill Development and Employment:

Launch of an internship scheme for 1 crore youths in over 500 firms.

Upgrading of 1,000 industrial training institutes.

The Budget aims to significantly boost the education, employment, and skilling sectors, providing ample opportunities and financial support for the youth.

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