New Delhi, Feb 1 (KNN) Finance Minister Nirmala Sitharaman unveiled an initiative set to pave the way for a golden era for the tech-savvy youth of the nation.

A corpus of one lakh crore rupees will be established through a fifty-year interest-free loan, aimed at fueling innovation and research among the younger generation.

Sitharaman emphasised the importance of supporting the tech-savvy youth, stating, "For our tech-savvy youth, this will be a golden era. A corpus of rupees one lakh crore will be established with a fifty-year interest-free loan."

The corpus is designed to provide long-term financing or refinancing with extended tenors and minimal to zero interest rates.

This move is expected to encourage the private sector to escalate their investments in research and innovation, particularly in sunrise domains.

Minister Sitharaman expressed optimism that this financial support would significantly boost the collaboration between the youth and technology, unleashing a wave of creativity and advancement.

(KNN Bureau)