India's biggest national opposition party has promised to waive off student loans including unpaid interest if it's voted to power in the upcoming election for the Lok Sabha, the lower house of Indian Parliament.
The Indian National Congress' manifesto has set March 15 as the cut-off date for the waiver. " Banks will be compensated by the government," it added.
Multiple leaders put the spotlight on the level of unemployment in India in their battle against rival Bharatiya Janata Party (BJP), which aims to sweep the polls third time in a row.
Former Finance Minister P Chidambaram cited the recent report from the International Labour Organisation (ILO) to underscore the party's claim.
The report showed that 65 .7% of all the unemployed people in India have secondary or higher education in 2022. This is almost twice the level of 35.2% in the year 2000.
These are some of the other big promises targeting the youth of the country:
Aside from the loan waiver, banks will be instructed to extend collateral-free education loans up to ₹7.5 lakhs especially to students belonging to the scheduled castes, scheduled tribes, other backward classes, economically weaker sections, and minorities.
A new Right to Apprenticeship Act to provide a one year apprenticeship with a private or a public sector company to every diploma holder or college graduate below the age of 25. The apprentices will get ₹1 lakh a year.
Sports scholarships of ₹10,000 per month for talented and budding sportspersons below the age of 21.
Right to Education Act will be amended to make education from Class I to Class XII in public schools compulsory and free.
The practice of charging special fees for different purposes in public schools will be ended.
The Indian National Congress' manifesto has set March 15 as the cut-off date for the waiver. " Banks will be compensated by the government," it added.
Multiple leaders put the spotlight on the level of unemployment in India in their battle against rival Bharatiya Janata Party (BJP), which aims to sweep the polls third time in a row.
Former Finance Minister P Chidambaram cited the recent report from the International Labour Organisation (ILO) to underscore the party's claim.
The report showed that 65 .7% of all the unemployed people in India have secondary or higher education in 2022. This is almost twice the level of 35.2% in the year 2000.
These are some of the other big promises targeting the youth of the country:
Aside from the loan waiver, banks will be instructed to extend collateral-free education loans up to ₹7.5 lakhs especially to students belonging to the scheduled castes, scheduled tribes, other backward classes, economically weaker sections, and minorities.
A new Right to Apprenticeship Act to provide a one year apprenticeship with a private or a public sector company to every diploma holder or college graduate below the age of 25. The apprentices will get ₹1 lakh a year.
Sports scholarships of ₹10,000 per month for talented and budding sportspersons below the age of 21.
Right to Education Act will be amended to make education from Class I to Class XII in public schools compulsory and free.
The practice of charging special fees for different purposes in public schools will be ended.
First Published: Apr 5, 2024 12:23 PM IST
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