Interim Budget 2024: FM Sitharaman announces Rs 1 lakh crore corpus, says 'golden era for tech savy youth'

Finance Minister Nirmala Sitharaman on Thursday said that for tech-savvy youth, this will be a golden era. She said a corpus of Rs 1 lakh crore will be established and an interest-free loan will be provided for 50 years. The corpus will provide long-term finance or re-financing with long tenures with zero interest, she said while presenting the interim Budget 2024. 

Also read: Budget 2024 LIVE Updates: No change in taxation. Farmers, women, youth & poor get more

During her budget speech, the finance minister said that it was an important priority to ensure timely and adequate finances, relevant tech, and appropriate training for MSMEs to grow and compete globally. "Orienting the regulatory environment to facilitate their growth will be an important component of this."

Besides this, the finance minister announced free power through rooftop solarisation. She said through rooftop solarisation, one crore households will be enabled to obtain up to 300 units of free electricity every month.

"This scheme follows the resolve of the Prime Minister on the historic day of consecration of Ram Mandir in Ayodhya. The following benefits are expected: Savings of up to fifteen to eighteen thousand rupees annually for households from free solar electricity and selling the surplus to the distribution companies; Charging of electric vehicles; Entrepreneurship opportunities for a large number of vendors for supply and installation; and Employment opportunities for the youth with technical skills in manufacturing, installation and maintenance."