New centrally-sponsored scheme to skill 20 lakh youth over 5 years
Jul 23, 2024, 11:41 IST
The government on Tuesday announced a new centrally-sponsored scheme for skilling 20 lakh youth over the next five years. The announcement was made by Finance Minister Nirmala Sitharaman in the Union Budget 2024-25.
The minister said that model skilling loan scheme will be revised to facilitate loans up to Rs 7.5 lakh.
As part of boosting skilling efforts, 1,000 ITIs will be upgraded on the hub-and-spoke model. Besides, the government will provide financial support for loans up to Rs 10 lakh for higher education in domestic institutions.
Sitharaman said the new centrally-sponsored scheme for skilling in collaboration with states and industry will train 20 lakh youth over a period of five years.
SEE ALSO:
Union Budget 2024 Live Updates: Finance Minister Nirmala Sitharaman to present her record seventh consecutive Budget today
Union Budget 2024-25: How will this budget impact you?
Here's a quick overview of PM Modi 3.0 government's first budget, to be presented by FM Nirmala Sitharaman today
Advertisement
The minister said that model skilling loan scheme will be revised to facilitate loans up to Rs 7.5 lakh.
As part of boosting skilling efforts, 1,000 ITIs will be upgraded on the hub-and-spoke model. Besides, the government will provide financial support for loans up to Rs 10 lakh for higher education in domestic institutions.
Sitharaman said the new centrally-sponsored scheme for skilling in collaboration with states and industry will train 20 lakh youth over a period of five years.
SEE ALSO:
Advertisement
Union Budget 2024-25: How will this budget impact you?
Here's a quick overview of PM Modi 3.0 government's first budget, to be presented by FM Nirmala Sitharaman today