Education Budget 2025 update; Student Loan | Skill Development Schemes | 10 thousand seats will increase for NEET students: 10 thousand fellowships in IIT, IISC; Indianet project for internet in government schools

Finance Minister Nirmala Sitharaman made 9 major announcements for education in Budget 2025. The biggest announcement in this is the PM Research Fellowship. In this, 10 thousand students will be given financial support to do research in IIT and IISC every year.

In 2024, a budget of Rs 1.48 lakh crore was given for education.

In the budget speech of 2024, the Finance Minister announced a guarantee free loan of up to 10 lakh for admission to Higher Education Institutes. Apart from this, the limit of model skill loan scheme was also announced to increase from 1.5 lakh to 7.5 lakhs.

Scheme 1- Loan of 10 lakhs for Higher Education

Announcement :

• Bank loan up to Rs 10 lakh on government guarantee.
• The government will pay 3% of the annual interest on the loan.
• Every year 1 lakh students will get loans.

Status:

• On 6 November 2024, a scheme was approved in the name of PM Vidyalakshmi Scheme.
• This scheme is to be started from February 2025, 1 lakh students will get loans every year.

Scheme 2- Model Skill Loan

Announcement :

• Every year 25 thousand youth will get skilling loans.

Status:

• The plan was upgraded in July 2024.
• Now a loan of up to 7.5 lakh rupees can be taken.
• Loans will be available from small finance banks without guarantine.

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