Budget 2024: Loans of up to Rs 10 lakh for higher education in domestic institutions, says Finance Minister

The Finance Minister said that the model skill loan scheme will be revised to facilitate loans up to RS 7.5 lakh with a guarantee from government promoted fund; and that this measure is expected to help 25,000 students every year. Moreover, among the initiatives that will be taken by the government to push the Skill Development sector are upgrading 1,000 Industrial Training Institutes (ITIs) in hub and spoke model, aligning course content with skill needs of industry and revision of model skill loan scheme, informed the Finance Minister.