Price range 2024: The Finance Minister of India, Nirmala Sitharaman on Thursday introduced a brand new scheme for the youth of the nation. The federal government will probably be giving a Rs 1 lakh crore corpus for youth for long-term financing and refinancing that can let younger entrepreneurs innovate and develop within the dawn sectors.
New scheme for tech-savvy youth
The corpus will present “long-term low or nil rates of interest in order that the youth can innovate and scale,” stated FM Sitharaman whereas presenting the Interim Price range in Lok Sabha.
“As innovation is the inspiration of improvement, for our tech-savvy youth, this will probably be a golden period. A corpus of Rs 1 lakh crore with 50-year interest-free loans will present long-term financing at low or nil rates of interest for the non-public sector to scale up analysis in dawn sectors.”
“The brand new scheme will probably be launched for strengthening deep-tech applied sciences for protection functions and expediting atmanirbharta.”
This can be a piece of excellent information for the tech-savvy youth as they’ll be capable of scale their companies within the rising dawn domains like IT, Car, Tourism, and others. It should additionally assist strengthen deep-tech applied sciences like AI, quantum computing, and so forth.
With this determination, the federal government strengthens its purpose of permitting for brand new companies to develop and prosper. It’s also prioritizing offering ample coaching to Indian Micro, Small & Medium Enterprises (MSME) letting them compete globally.
—Written with inputs from IANS
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