While presenting the interim budget on February 1, 2024, Finance Minister Nirmala Sitharaman had stated that, “In the full budget in July, our Government will present a detailed roadmap for our pursuit of ‘Viksit Bharat’.” If India does aim to become a developed country by 2047 as per Prime Minister Narendra Modi’s vision of Viksit Bharat, the Union Budget 2024 which will be presented on July 23 must prioritise the education of children, who are the future of the country. Read on to find out what experts from the education sector shared with us at Brainfeed about their expectations from the Union Budget 2024.
The recent budget announcement by Finance Minister Nirmala Sitharaman has set a strong precedent for the future of education and skill development in India. Skillible commends the introduction of E-vouchers for 1 lakh students, facilitating a 3% interest subvention on loans, and the ambitious plan to upgrade 1,000 industrial training institutes. The revised Model Skilling Loan Scheme, projected to benefit 25,000 students annually, and the new centrally sponsored scheme under the PM package for skilling, aiming to skill 20 lakh youth over five years, are transformative steps.
The three newly announced ‘Employment Linked Incentive’ schemes—First Timers, Job Creation in Manufacturing, and Support to Employers—will undoubtedly drive employment and boost the manufacturing sector. Providing skilling loans of up to ₹7.5 lakh will further ease financial barriers for students, ensuring they have access to quality training and employment opportunities. These initiatives reflect a significant commitment to building a skilled workforce, and Skillible is excited to support and align with these goals, empowering India’s youth for a brighter future.
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The recent budget announcement by Finance Minister Nirmala Sitharaman has set a strong precedent for the future of education and skill development in India. Skillible commends the introduction of E-vouchers for 1 lakh students, facilitating a 3% interest subvention on loans, and the ambitious plan to upgrade 1,000 industrial training institutes. The revised Model Skilling Loan Scheme, projected to benefit 25,000 students annually, and the new centrally sponsored scheme under the PM package for skilling, aiming to skill 20 lakh youth over five years, are transformative steps.
The three newly announced ‘Employment Linked Incentive’ schemes—First Timers, Job Creation in Manufacturing, and Support to Employers—will undoubtedly drive employment and boost the manufacturing sector. Providing skilling loans of up to ₹7.5 lakh will further ease financial barriers for students, ensuring they have access to quality training and employment opportunities. These initiatives reflect a significant commitment to building a skilled workforce, and Skillible is excited to support and align with these goals, empowering India’s youth for a brighter future.
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