Budget 2024: Govt offers loan for higher education in domestic institutions

Union Finance Minister Nirmala Sitharaman has introduced a new scheme under Budget 2024, offering education loans up to Rs 10 lakh for students pursuing higher education in domestic institutions.

The Budget, presented in the Lok Sabha, allocates Rs 1.48 lakh crore for education, employment, and skilling, focusing on supporting employment, skilling initiatives, MSMEs, and the middle class.

The government will also launch a program providing internship opportunities to 1 crore youth across 500 top companies. Interns will receive Rs 5,000 per month and a one-time assistance of Rs 6,000.

The companies facilitating the internships will cover the cost of training and utilise their Corporate Social Responsibility (CSR) funds for this purpose.

Interns will gain exposure to real-life work environments and receive a monthly allowance.

Nirmala Sitharaman also mentioned that working women hostels will be set up to promote higher female participation in the workforce through hostels and creches.

The government will also introduce the National Cooperation Policy for overall development.