ENA Economy 2024-02-01 15:36:32 <p><span style="font-size:14px"><strong>New Delhi, Feb 1 (KNN) </strong>Finance Minister Nirmala Sitharaman unveiled an initiative set to pave the way for a golden era for the tech-savvy youth of the nation.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">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. </span></p> <p><span style="font-size:14px">The corpus is designed to provide long-term financing or refinancing with extended tenors and minimal to zero interest rates.</span></p> <p><span style="font-size:14px">This move is expected to encourage the private sector to escalate their investments in research and innovation, particularly in sunrise domains.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 36517 https://knnindia.co.in/news/newsdetails/economy/corpus-of-rs-1-lakh-crore-announced-for-youth-innovation 2024-02-01 15:36:32 knnindia.co.in