Union Budget 2024-25: Rs 10 Lakh education loans, E-vouchers for 1 lakh students

The Union Budget for 2024-25 announced by Finance Minister Nirmala Sitharaman, allocates Rs 1.48 lakh crore for education, employment, and skill development, emphasizing the government’s commitment to these crucial sectors.

In her Budget presentation in the Lok Sabha on Tuesday, Sitharaman announced that the government will provide loans of up to Rs 10 lakh for higher education in the domestic sector. Additionally, e-vouchers will be distributed directly to 1 lakh students, further aiding their educational pursuits.

“This Budget focuses on employment, skilling, MSMEs, and the middle class,” Sitharaman stated. She highlighted the extension of the PM Garib Kalyan Anna Yojana for another five years, benefiting 80 crore people across the country.

This Budget marks the first of Prime Minister Narendra Modi-led government's third term in office. Sitharaman, presenting her seventh consecutive Budget, surpassed the record of former Prime Minister Morarji Desai.

“People of India have reinforced their faith in the Modi-led government, re-electing it for the third term,” Sitharaman said while presenting the Budget in the Lok Sabha.