Union Budget 2024: FM Sitharaman announces revision of Model Skill Loan Scheme

Finance Minister Nirmala Sitharaman announced that the model skill loan scheme will be revised to facilitate loans up to Rs 75 lakh with a guarantee from a governmentpromoted fund The scheme is expected to help 25000 students every yearThe minister announced that Evouchers for loans upto Rs 10 lakh for higher education in domestic institutions will be given directly to 1 lakh students every year for annual interest subvention of 337 of loan amountSitharaman on Tuesday announced that Rs 148 lakh crore has been announced for education employment and skilling while presenting the Union Budget for FY25The FM proposed a Prime Ministers Package in order to boost skilling which included providing 12month Prime Ministers Internship with monthly allowance of Rs 5000 Sitharam claimed that one crore youth to be skilled by Indias top companies in five yearsAs part of boosting skilling efforts 1000 ITIs will be upgraded on the hubandspoke modelPresenting the Budget in the Lok Sabha Finance Minister Nirmala Sitharaman said it will focus on employment skilling MSMEs and the middle class reported PTIShe added that the government has extended the PM Garib Kalyan Anna Yojana for five years which is benefiting 80 crore people of the countryAs mentioned in interim budget there is a need to focus on poor women youth and farmers the minister said reported PTIShe added that people have given unique opportunity to the Modi government to take India on the path of strong development and allround prosperityFinance Minister Nirmala Sitharaman presented the Union Budget 2024 after the Cabinet gave its approvalIn her intial comments Sithamraman said Indias economic growth will be a shining exceptionWe are determined all Indians regardless of religion and age achieve life goals and aspirations Sitharman saidThe Finance Minister presented first Union Budget of the Modi 30 government and her seventh consecutive one during the Monsoon Session of ParliamentThe Economic Survey 202324 was tabled yesterday in the ParliamentUnion Cabinet headed by Prime Minister Narendra Modi met in Parliament today to approve the Union Budget 2024 ahead of its presentation by the Finance MinisterThis would mark Sitharamans seventh consecutive budget and eclipses the late Moraji Desais record of six consecutive budgets which is likely to focus on changes in the income tax structure and improving the ease of doing business in IndiaAddressing the media Minister of State for Finance Pankaj Chaudhary earlier said that the first Union Budget of the third Modi government will be based on his mantra of Sabka Saath Sabka VikasUnion Minister Pralhad Joshi said that this budget would accelerate the countrys economic growthThe economic growth that happened under the leadership of Prime Minister Narendra Modi this budget and this Budget will further accelerate it The budget that will be presented today by Nirmala ji will also help our country which is the fastestgrowing economy Pralhad Joshi said while speaking to the media on the Parliament premises on TuesdayThe budget session of Parliament began on July 22 and according to schedule will end on August 12On Monday the economic survey presented in Parliament by finance minister Sithraman emphasized the resilience of the Indian economy and its stable postCovid recoveryThe Survey underscored the governments commitment to Nari Shakti through various legislative measures and provisions aimed at boosting womens participation in diverse professionsAccording to the Economic Survey the budget for womens welfare and empowerment schemes has surged by 2188 per cent growing from Rs 97134 crore BE in FY14 to Rs 310 lakh crore in FY25Additionally the Gender Budget Statement GBS has seen a 387 per cent increase compared to FY24 BE with its share in the total Union Budget rising to 65 per cent in FY25 the highest since GBS was introduced in FY06With inputs from ANI and PTI