Union Budget 2024: This will be a golden era for tech-savvy youth, says Finance Minister

For the tech-savvy youth, this will be a golden era, said Finance Minister Nirmala Sitharaman while presenting the interim budget on Thursday.

The Finance Minister informed that a corpus of Rs 1 lakh crore will be established with 50-year interest-free loan. 

“The corpus will provide long-term financing or refinancing with long tenors and low or nil interest rates. This will encourage the private sector to scale up research and innovation significantly in sunrise domains,” said Sitharaman.

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According to Sitharaman, there is a need to have programmes that combine the powers of our youth and technology.

Apart from this, a new scheme will be launched to strengthen deep-tech technologies for defence purposes and expediting ‘atmanirbharta’.

Empowering Amrit Peedhi, The Yuva

In her interim budget speech, Finance Minister Nirmala Sitharaman further said the country’s prosperity depends on adequately equipping and empowering the youth. 

“The National Education Policy 2020 is ushering in transformational reforms. PM ScHools for Rising India (PM SHRI) are delivering quality teaching, and nurturing holistic and well-rounded individuals,” said Sitharaman.

The Skill India Mission has trained 1.4 crore youth, upskilled and reskilled 54 lakh youth, and established 3000 new ITIs. A large number of new institutions of higher learning, namely 7 IITs, 16 IIITs, 7 IIMs, 15 AIIMS and 390 universities have been set up, she added.

Also Read: Interim Budget Hikes Outlay on Big infra Projects to Rs 11.1 lakh crore, Cuts Fiscal Deficit to 5.1% of GDP