Budget 2024: Loan up to ₹10 lakh announced for higher education in domestic institutions

Union Finance and Corporate Affairs minister Nirmala Sitharaman in Budget 2024 proposed revision of Model Skill Loan Scheme to help 25,000 students every year. She 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 minister also mentioned that there will be special focus on women and students where the government will give a lot of emphasis on setting up of working women's hostels and creches in collaboration with industry.

The minister announced that the model skill loan scheme will be revised to facilitate loans up to ₹7.5 lakh with a guarantee from a government-promoted fund. This scheme is likely to help 25,000 students every year.

Besides education, FM made these announcements so far for the agriculture and allied sectors.

Other announcements:

1 Provision of ₹1.52 lakh crore for the agriculture and allied sectors.

2 10,000 bio research centres will be established.

3 Next two years, 1 crore farmers will be initiated into natural farming supported by branding and certification.

4 Vegetable production and supply chain, large clusters to be developed closer to consumption centres.

5 Financial support for shrimp breeding centres to be provided, export to be facilitated through NABARD.

6 Kisan Credit Cards to be launched in 5 states.

7 To release 109 varieties of 32 crops.

8 Will help Natural Farmers with verification and branding.

9 To ensure self-sufficiency in pulses and oilseeds seeds 6 crore farmers and their land will be brought into the farmer and land registry.