Government will provide education loan up to Rs 10 lakh at 3 percent interest rate for higher education
Under this scheme, children from families with income less than Rs 8 lakh will get education loan of up to Rs 10 lakh at 3 percent interest rate for higher education. This loan will be provided to 1 lakh students every year,
Many important decisions have been taken in the Union Cabinet meeting. Giving information about the meeting, Union Minister Ashwini Vaishnav said that to further strengthen the Food Corporation of India (FCI), its equity capital has been increased to Rs 10,700 crore. Food subsidy from 2004 to 2014 was Rs 5.15 lakh crore, which has increased to Rs 21.56 lakh crore from 2014 to 2024, which will improve food security and distribution system.
At the same time, the cabinet has also approved the Pradhan Mantri Vidyalakshmi Yojana. Under this scheme, children from families with income less than Rs 8 lakh will get education loan of up to Rs 10 lakh at 3 percent interest rate for higher education. This loan will be provided to 1 lakh students every year, so that they will be able to pursue higher education despite financial crisis. A provision of Rs 3,600 crore has been kept for this scheme, which will be implemented from the financial year 2024-25.
What's Your Reaction?
