Budgetary Allocation for Interest-free Education Loans to be Hiked


Union Minister Prakash Javdekar on Monday said that the budget for interest-free education loan to students will be increased by the union government. The annual budget to provide interest-free loans to 10 lakh students would be increased to Rs 2,200 crore in next three years, said Union Minister for Human Resource Development Javdekar, addressing the 2nd Higher Education Human Resource Conclave here.


the minister said that over four to five lakh youths used to get interest-free loans amounting to Rs 800 crore in 2014, under the present BJP-led government at the Centre, it has been increased to Rs 1,800 crore to benefit over 8 lakh students.


The Centre aims at launching ‘Operation Digital Board’ in all schools in five years, said an official release earlier, adding the venture would “ensure quality, equity, accessibility and accountability in education by pro-active action and plan”.


Speaking on the occasion, Rajasthan Education Minister Kiran Maheshwari listed the state’s various innovations and reforms in higher education in the last four and a half years. She said 81 new colleges were set up in the state and 75 others were provided funds to add to their infrastructure.



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