Loan Limit Under MUDRA Scheme Doubled: Key Highlights from Finance Minister Nirmala Sitharaman's Budget 2024-25
Finance Minister Nirmala Sitharaman presented the 2024-25 Budget, announcing key initiatives including doubling the loan limit under the MUDRA scheme to Rs 20 lakh, launching an internship scheme for 1 crore youth, promoting industrial parks, providing dormitory housing for workers, auctioning offshore mining blocks, and allocating Rs 20,000 crore for Bihar highways.
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Finance Minister Nirmala Sitharaman on Tuesday announced significant changes in the Budget for 2024-25, including doubling the loan limit under the MUDRA scheme to Rs 20 lakh.
She revealed that the government will launch a new internship program aimed at offering opportunities to 1 crore youth in the country's top 500 companies over the next five years. Additionally, the Centre will promote investment-ready industrial parks in 100 cities across India.
In a move to improve housing for industrial workers, the government will facilitate the development of dormitory-type rental accommodations through public-private partnerships (PPP).
Sitharaman also unveiled plans for the auction of the first offshore mining blocks and announced the establishment of a Critical Mineral Mission to acquire essential assets overseas.
Further, an allocation of Rs 20,000 crore will be directed towards the development of highways in Bihar.
(With inputs from agencies.)