Budgetary Allocation For Interest-Free Education Loans To Be Hiked: Prakash Javadekar

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JAIPUR: The Union government will increase its annual allocation for interest-free loans to students and digitalise over 15 lakh classrooms as part of its resolve to ensure quality education in the country, said Union Minister Prakash Javadekar Monday. 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 Javadekar, addressing the 2nd Higher Education Human Resource Conclave here.
Over 15 lakh classrooms from standard 9 to post-graduate levels would be digitalised under ‘Operation Digital Board’, he told the conclave, organised with an aim “to promote an environment of innovations, employability and entrepreneurship across the country”.
Talking of the government’s plan to further hike the budgetary allocation for the interest-free loans to students, he said 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, said the minister, addressing the conclave, being attended by education ministers of various states, including those from Rajasthan, Manipur and Uttarakhand.
The conclave was also attended by representatives from various universities and colleges along with the HR managers, corporate leaders and employers, start-ups, CSR agencies and venture capitalists from across the country, besides educationists and senior government officials.

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