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.

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.)