The youth centric lowdown of the Union Budget 2014

The Union Budget 2014-2015 presented in the lower house of the Parliament today by Finance Minister Arun Jaitley centralises its focus on key issues in the education sectors such as the simplification of norms for procuring education loans for higher studies. This move promises to bring about much needed change, encouraging a large sector of India’s population between 20 and 35 years of age to eliminate financial hindrances for specialised courses as well.

The new Union Budget brings with it some good news for the youth. The government has now announced a ‘Skills India Programme’ aimed at developing skill sets among the youth and make them competitive workers thereby improving employment. Other key budget changes in education are:

• Four new AIIMS to come up in Andhra Pradesh, West Bengal, Vidarbha and Purvanchal
• Five new IITs to be constructed in Jammu, Chhatisgarh, Goa, AP and Kerala
• Five new IIMs to be introduced in HP, Punjab, Bihar, Odisha and Maharashtra
• Film and Television Institute of India (FTII) and Satyajit Ray Film & Television Institute(SRFTI) to be given a special status of national importance
• A national sports institute to be constructed in Manipur
• Introduction of Himalayan studies at National Centre in Uttarakhand with initial outlay at Uttarakhand
• A special sum of Rs 200 crore will be implemented in Jammu & Kashmir to upgrade the indoor and outdoor stadiums
• Sports University in Manipur will be allotted Rs 100 crore
• International events to be held in North and North East India
• Rs 100 crore for training of sports persons for Asian Games
• Young leaders’ programme proposed for which an initial budget of Rs 100 crore has been set