Union Budget 2024 | Special focus on women, new scheme to skill 20 lakh youth over 5 years announced

The government will set up working women hostels to promote the participation of women in the workforce, Sitharaman announced.

Union Finance Minister Nirmala Sitharaman on Tuesday said that the government will allocate over Rs 3 lakh crore for schemes benefiting women and girls as she announced the Union Budget.

The government will set up working women hostels to promote the participation of women in the workforce, Sitharaman said while presenting the Budget in the Lok Sabha.

As mentioned in the interim budget, there is need to focus on poor, women, youth and farmers, she added.

Track live updates of FM Sitharaman's budget speech right here

The government on Tuesday announced a new centrally-sponsored scheme for skilling 20 lakh youth over the next five years. 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.

Union Budget 2024 LIVE | Making a record for any Finance Minister, Nirmala Sitharaman will be presenting her 7th Union Budget on July 23, 2024 under the Modi 3.0 government. While inflation has burnt a hole in the pockets of 'aam janata', will this Budget spell relief for Indians? Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.