News Brief
Budget 2024: Rs 1 Lakh Crore Corpus To Be Set Up To Encourage Private Research In Sunrise Sector, Says FM Sitharaman
Finance Minister Nirmala Sitharaman with the Union Budget (Pic Via Twitter)
In the run-up to the 2024 Lok Sabha elections, Union Finance Minister Nirmala Sitharaman is presenting the Interim Budget, marking the final fiscal plan in the second term of Prime Minister Narendra Modi's government.
Emphasizing the government's focus on the tech-savvy youth, FM Sitharaman has announced the creation of a Rs 1 lakh crore corpus, supported by a 50-year interest-free loan.
This initiative aims to provide long-term financing or re-financing opportunities with low or nil interest rates for the youth, signaling a promising era for technological advancements.
It's important to note that this budget is interim, with the comprehensive budget for the financial year 2024-25 slated to be introduced post the formation of the new government following the general elections.
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