Education Budget 2024 LIVE Updates: Rs. 1.48 Lakh Crore Allocated for Emphasis on Education; Internships for 1 Crore Youth

Education Budget 2024 LIVE Updates: New Tax Rate Structure for Salaried Employees

–– 0-3 Lakh – NIL

–– 3-7 Lakh – 5 percent

–– 7-10 Lakh – 10 percent

–– 10-12 Lakh – 15 percent

–– 12-15 Lakh 20 percent

–– Above 15Lakh – 30 percent

Education Budget 2024 LIVE Updates: Focus on Jobs, Agriculture, MSMEs and Education

Finance Minister Nirmala Sitharaman began delivering her seventh Union Budget in Lok Sabha on Tuesday at 11 am. She stated that the budget is focused on employment opportunities, skilling, MSME, and the middle class. The finance minister also named nine priority sectors, including jobs, agriculture, MSMEs, and education. The whole budget speech is now available in PDF format here.

Education Budget 2024 LIVE Updates: Establishment of Working Women Hostels to Foster Higher Involvement

Finance Minister Nirmala Sitharaman announced the Union Budget 2024, saying that working women’s hostels will be constructed. The availability of hostels and creches will foster a high level of involvement among working women. The current government will implement a National Cooperation Policy to promote overall growth and will also give financial aid with loans.

Education Budget 2024 LIVE Updates: 9 Priorities in the Union Budget

FM Nirmala Sitharaman presented nine priorities for the Union Budget 2024-25, aimed at creating ample economic possibilities. The nine priorities are:

Productivity

Employment and skilling

Manufacturing and services

Social justice

Urban development

Energy security

Infrastructure

Innovation

Reform

Education Budget 2024 LIVE Updates: Support to Employers

To cover EPFO expenses, additional employment in all sectors with a salary of 1 lakh per month would be offered for a period of two years at Rs 3,000 per month. This could incentivise additional employment of up to 50 lakh individuals.

Education Budget 2024 LIVE Updates: Manufacturing Jobs Assistance to Benefit 30 Lakh Youth

Employees joining manufacturing jobs will get a defined scale incentive straight from their company within the first four years of work. This would assist 30 lakh youths and employers.

Education Budget 2024 LIVE Updates: First Timers Scheme

The government would offer a one-month wage to all new workers in all formal industries in three installments. Employees will receive a direct benefit transfer of up to Rs 15,000. This will apply to people with salaries of up to Rs 1 lakh per month. 2.1 crore youngsters will be benefited by this scheme

Education Budget 2024 LIVE Updates: New Medical Colleges in Bihar

The finance minister also announced that additional medical institutions will be established in Bihar.

Education Budget 2024 LIVE Updates: E-vouchers for Education Loans to 1 Lakh Students

Sitharaman stated in her Budget Speech 2024-25 that the government will also distribute e-vouchers directly to 1 lakh students each year, with a 3% interest subvention on the loan amount.

Education Budget 2024 LIVE Updates: Upgradation of ITIs

Up to 1,000 ITIs would be updated using a hub-and-spoke model, according to the Finance Minister’s seventh budget.

Education Budget 2024 LIVE Updates: Internships Opportunity in 500 Top Companies for 1 Crore Youth 

As part of the 5th package, internship opportunities in 500 top companies for 1 Crore Youth across 5 Years will be offered. This includes an internship allowance Of Rs. 5,000 per month and one-time assistance of Rs. 6,000 to be given to youth. FM stated that the companies would be obliged to cover the training costs and 10% of the internship costs with their CSR funding.

Education Budget 2024 LIVE Updates: 5 Schemes, Employment Incentive

During today’s budget announcement, Nirmala Sitharaman introduced the Prime Minister’s package, which includes five schemes and initiatives aimed at facilitating employment, skill development, and other opportunities for 4.1 crore youth over five years, with a central outlay of Rs. 2 lakh crore.
This year, a provision of Rs. 1.48 lakh crore has been made for education, employment, and skill development.

Education Budget 2024 LIVE Updates: Financial Support for Loans Upto 10 lakh for HEI's

The budget includes financial support for loans of up to 10 lakh for higher education at domestic institutions.

Education Budget 2024 LIVE Updates: Model Skill Loans to Benefit 25,000 Students Annually

While presenting the Union Budget for 2024-25, Nirmala Sitharaman remarked, “Skilling loans – model skill loans schemes for up to 7 lakh rupees will benefit 25,000 students every year."

Education Budget 2024 LIVE Updates: 20 Lakh Youth Will Be Skill Over a 5 Year Period, Says Sitharaman

While presenting the Union Budget for 2024-25, Nirmala Sitharaman remarked, “Skilling loans – model skill loans schemes for up to 7 lakh rupees will benefit 25,000 students every year."

Education Budget 2024 LIVE Updates: 5 Schemes to Be Announced to Facilitate Employment and Skilling

The Finance Minister unveiled a PM Package comprising five programmes targeted at boosting employment and skilling, totalling Rs 2 lakh crore. This year, Rs 1.48 lakh crore has been allocated for education, employment, and skilling.

Education Budget 2024 LIVE Updates: FM's Union Budget Speech Begins

The Union Cabinet headed by Prime Minister Narendra Modi approved the full budget for 2024-25 and Finance Minister Nirmala Sitharaman has begun her 7th Budget Speech.

Education Budget 2024 LIVE Updates: AI Likely to Get Priority in Union Budget

Sitharaman declared in last year’s budget that 3 Centres of Excellence for Artificial Intelligence will be established in premier educational institutions. This raises the likelihood of AI being encouraged in the 2024 budget to boost the education sector. The influence of AI is now seen in every school and institution, as well as in professions in a variety of industries. Short-term AI courses are increasingly being offered at schools. In such cases, AI can be prioritised in the budget.

Education Budget 2024 LIVE Updates: 2023 Budget Emphasised on Improving Quality of Education

The budget last year included plans to develop new research institutes, hire over 38,000 instructors for Ekalavya Schools, and update the apprenticeship programme in addition to specific research programmes. The increasing budget and variety of programmes demonstrated the dedication to improving the quality of education.

Education Budget 2024 LIVE Updates: Rs 1,12,898.97 Crore Allotted for Education Sector Last Year

The Ministry of Education received the largest-ever allocation of Rs 1,12,898.97 crore from the centre for the education sector in the Union Budget 2023. The higher education department received a budget of Rs 44,094.62 crore, while the department of school education had a budget of Rs 68,804.85 crore.

Education Budget 2024 LIVE Updates: Setting Up of National Digital Library

The finance minister said in the Union Budget of 2023 that a National Digital Library would be established for kids and teenagers to enable device-independent accessibility and the provision of high-quality books in a variety of languages, genres, and levels.

Education Budget 2024 LIVE Updates: Nirmala Sitharaman to Make History by Presenting Her 7th Straight Union Budget

The maiden budget of Prime Minister Narendra Modi’s third straight NDA government will be presented today by the union finance minister. With today’s presentation of her seventh Union Budget, Nirmala Sitharaman will break the previous record of six budgets held by former finance minister Morarji Desai and make history.

Education Budget 2024 LIVE Updates: Quick Look at the Interim Budget This Year

–– The Education Ministry’s budget for this year increased by 6.8%, reaching Rs 1,20,627.87 crore, compared to Rs 1,12,899.47 crore in 2023-24.

–– The budget of the renowned Indian Institutes of Management (IIMs) witnessed a significant decrease of approximately 35.8 taking this year’s budgetary allotment for IIMs to Rs 212.21 crore.

–– Funding for research and innovation increased to Rs 355 crore from Rs 210.61 crore.

–– The UGC’s allocation was reduced by over 50%, dropping to Rs 2,500 crore for the 2024-25 financial year from Rs 5,360 crore in the 2023-24 budget.

–– The Samagra Shiksha Abhiyan allocation saw a slight increase of Rs 46.5 crore, from Rs 37,453.47 crore to Rs 37,500 crore in 2024-25.

–– Grants for central universities increased by over Rs 4,000 crore, totaling Rs 15,928 crore for FY 2024-25.

–– Rs 6,050 crore has been allocated for PM Schools for Rising India (PM SHRI).

–– The budget for ‘World Class Institutions’ under the Institutions of Eminence (IoE) rose to Rs 1,800 crore from Rs 1,500 crore in 2023-24.

–– The PM POSHAN scheme’s budget grew by over Rs 800 crore, from Rs 11,600 crore in 2023-24 to Rs 12,467.39 crore in 2024-25.

Education Budget 2024 LIVE Updates: Rs 1,12,898.97 Crore Allotted for Education Sector Last Year

The Ministry of Education received the largest-ever allocation of Rs 1,12,898.97 crore from the centre for the education sector in the Union Budget 2023. The higher education department received a budget of Rs 44,094.62 crore, while the department of school education had a budget of Rs 68,804.85 crore.

Education Budget 2024 LIVE Updates: Economic Survey 2023-24

Total enrolment in higher education has increased to nearly 4.33 crore in the financial year 2022 from 4.14 crore in FY21 and 3.42 crore in FY15. This is an increase of 26.5 per cent since FY15, according to the Economic Survey 2023-24 tabled in Parliament today by the Union Finance and Corporate Affairs Minister, Nirmala Sitharaman on Monday. The survey which referred to the All India Survey on Higher Education (AISHE) 2021-22 also stated that female enrolment in higher education increased to 2.07 crore in FY22 from 1.57 crore in FY15, which is a 31.6 per cent increase.

Education Budget 2024 LIVE Updates: Union Budget 2024-25 to Begin at 11 AM

The interim budget is a temporary financial plan presented by the government as it doesn’t have the mandate to present a full budget due to the elections and till a new government is formed. The full budget will be presented today at 11 am. Sitharaman has reached the Parliament ahead of presenting the budget.

Education Budget 2024 LIVE Updates: What Happened During Interim Budget 2024?

Around 1.4 crore youth have been trained under the Skill India Mission and 3000 new ITIs have been established, Sitharaman said during the Interim Budget. Several new IITs and IIMs too have been set up. “The Skill India Mission has trained 1.4 crore youth, upskilled and re-skilled 54 lakh youth, and established 3000 new ITIs. A large number of institutional higher learning, namely 7 IITs, 16 IIITs, 7 IIMs, 15 AIIMS and 390 Universities have been set up," she had said.

Education Budget 2024 LIVE Updates: More Medical Colleges To Be Set Up

More medical colleges will be set up and a committee will be formed to examine this purpose, Finance Minister Nirmala Sitharaman had said during the Interim Budget 2024 speech in February. “Our government plans to set up more medical colleges by utilising the existing hospital infrastructure under various departments. A committee for this purpose will be set up to examine the issues and make relevant recomendations," she had said.

Education Budget 2024 LIVE Updates: Date and Time

The Union Finance Minister Nirmala Sitharaman will present the Union Budget in the Parliament today, July 23, at 11 am. She presented the Economic Survey on Monday wherein she stated that the total enrolment in higher education has increased to nearly 4.33 crore in the financial year 2022 from 4.14 crore in FY21 and 3.42 crore in FY15. This is an increase of 26.5 per cent since FY15.