# Tech Budget 2024: Govt launches Rs. 1 lakh cr fund for tech-savvy youth - will offer 50-yr interest-free loans | Tech News (HT Tech) > Tech Budget 2024: FM Nirmala Sitharaman unveils a historic initiative, presenting a golden era for tech-savvy youth with a Rs. 1 lakh crore fund, offering 50-year interest-free loans to foster innovation. # Tech Budget 2024: Govt launches Rs. 1 lakh cr fund for tech-savvy youth - will offer 50-yr interest-free loans ## Tech Budget 2024: FM Nirmala Sitharaman unveils a historic initiative, presenting a golden era for tech-savvy youth with a Rs. 1 lakh crore fund, offering 50-year interest-free loans to foster innovation. Feb 01 2024, 16:26 IST ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook.png) ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook-hover.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Share.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Shareclicked.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp-hover.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter-hover.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook-hover.png) ![Bookmark](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmark.png) ![Bookmarked](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmarked.png) ![Tech Budget 2024](https://images.hindustantimes.com/tech/img/2024/02/01/1600x900/Budget_2024_1706777086697_1706777087043.jpg) ![icon](https://images.hindustantimes.com/tech/static/revamp/images/png/imageviewall.png) Tech Budget 2024: FM Nirmala Sitharaman announces a monumental Rs. 1 lakh crore fund, providing 50-year interest-free loans to tech-savvy youth. (Pexels) ![Author Photo](https://images.hindustantimes.com/tech/static/revamp/images/png/HTTech-new-circle-logo.png) ### By MD IJAJ KHAN Tech Budget 2024: Finance Minister Nirmala Sitharaman, in her interim Budget 2024 address to Parliament today, unveiled a significant development for the nation's youth. Emphasising the forthcoming golden era for technology-savvy individuals, Sitharaman announced the establishment of a corpus amounting to one lakh crore rupees, accompanied by 50-year interest-free loans. This corpus is designed to facilitate long-term financing or refinancing, offering extended tenors with low or negligible interest rates. The primary objective is to stimulate research and innovation within the private sector, particularly in emerging fields. “We applaud the government's initiative to establish a ₹1 lakh crore fund to fuel technological innovation among our youth. This visionary step, offering long-term, interest-free financing, is a game-changer and the fintech sector alone can potentially get elevated to USD 1 trillion by 2030. For digital payments in particular, this will mean many more young entrepreneurs eager to innovate especially in the hardware terminal space will enter the industry and potentially transform payment solutions across India. This fund is not just an investment in technology; it's an investment in India's innovative spirit and global leadership in fintech.,” said Jose Thattil, CEO, PhiCommerce. ## Historical Progression: From Slogans to Innovation Highlighting the need for synergies between the nation's youth and technology, Sitharaman emphasised the importance of strategic programs. Referencing India's historical slogans, Sitharaman noted, "Prime Minister Shastri championed 'Jai Jawan Jai Kisan,' and Prime Minister Vajpayee expanded it to 'Jai Jawan Jai Kisan Jai Vigyan.' Prime Minister Modi has now extended it to 'Jai Jawan Jai Kisan Jai Vigyan and Jai Anusandhan,' recognizing that innovation is the bedrock of development." Also read click here. “The Interim Budget, as expected, has been able to infuse confidence about the progress of the country and has set the tone for the Viksit Bharat roadmap. The policy intent has been made clear with emphasis on building robust ecosystems for inclusive growth of citizens. Sabka Saath Sabka Vikas continues to be the focal theme of the government and the announcements reflect its commitment towards that goal without compromising fiscal discipline. Focus on infrastructure and research highlight the intent of the government to foster a growth-oriented mindset” said Mr. Rahul Jain, Managing Partner, BCG India. Also read: Tech Budget 2024 Live Updates: Govt will launch new scheme for strengthening deep tech technologies, says FM Acknowledging the transformative impact of new-age technologies and data on lives and businesses, Sitharaman asserted their role in creating economic opportunities and delivering high-quality services at affordable prices, even for those at the bottom of the socioeconomic pyramid. She emphasised that India is positioned to provide global solutions through the innovation and entrepreneurship of its citizens. ## Green Energy Initiatives for a Sustainable Future In a significant move towards green energy initiatives, the Finance Minister outlined measures to meet the commitment of achieving 'net-zero' by 2070. Viability gap funding will be extended for tapping into offshore wind energy potential, starting with an initial capacity of one gigawatt. Furthermore, plans include the establishment of coal gasification and liquefaction capacity reaching 100 million tonnes by 2030, aimed at reducing imports of natural gas, methanol, and ammonia. Additionally, a phased mandatory blending of compressed biogas (CBG) in compressed natural gas (CNG) for transport and piped natural gas (PNG) for domestic purposes is set to be mandated. Financial assistance will also be provided for the procurement of biomass aggregation machinery to support collection. These strategic initiatives, as outlined by Finance Minister Nirmala Sitharaman, underscore the government's commitment to fostering technological innovation, sustainability, and economic growth. Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. For our latest videos, subscribe to our YouTube channel. 01 Feb, 14:18 IST budget ![HT Tech Awards](https://tech.hindustantimes.com/ht-tech-power-list-awards-2026/httech-awards-banner-new.webp) ### Related Stories 05 Oct 2026 71,706,776,856,758 NEXT ARTICLE BEGINS ![View all](https://images.hindustantimes.com/tech/static/revamp/images/png/view-all-icon.png) ## Tips & Tricks ![Ghibli-style art](https://images.hindustantimes.com/tech/img/2025/03/28/414x233/ChatGPT_Ghibli_style_images_1743161814450_1743161814596.jpg) ### How to turn your photos into Ghibli-style art with ChatGPT for free: Step-by-step guide ![How to create an invitation using iPhone’s new Apple Invites app- Step-by-step guide](https://images.hindustantimes.com/tech/img/2025/02/14/414x233/invites_1738728829564_1739543695649.png) ### How to create an invitation using iPhone’s new Apple Invites app- Step-by-step guide ![Apple TV app arrives on Android phones and tablets: What you get and how to install it](https://images.hindustantimes.com/tech/img/2025/02/13/414x233/unnamed_1739426557335_1739426567634.jpg) ### Apple TV app arrives on Android phones and tablets: What you get and how to install it ![Vodafone Idea OTT plans](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Vodafone Idea users can now stream 17 OTT apps with one subscription: Here's how ![Android data transfer methods](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### How to transfer data from one Android to another using Google backup, USB-C cable, and more ## Editor’s Pick ![iPhone 16e launched with A18 chip, Apple AI—bringing flagship power on a budget: Check specs, price](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### iPhone 16e launched in India: All details about the new budget mobile from Apple ![DeepSeek was founded in China with only a fraction of the budget of the top AI companies in the US.](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### DeepSeek AI: How it works, who’s behind it, how it’s different from ChatGPT, and its big US market impact explained ![iPhone 17 Air likely to get this feature that iPhone 17 Pro models may miss out on](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### iPhone 17 Air likely to get this feature that iPhone 17 Pro models may miss out on ![Google Whisk AI explained: How remixing works, availability, and how it differs from Gemini](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Google Whisk AI explained: How remixing works, availability, and how it differs from Gemini ![iOS 18.4 beta arriving soon: Know why it is the biggest iPhone update](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### iOS 18.4 beta arriving soon: Know why it is the biggest iPhone update ## Trending Stories ![Airtel 5G SIM card will now be delivered in 10 minutes with Blinkit- How to order](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Airtel 5G SIM card will now be delivered in 10 minutes with Blinkit- How to order ![Infinix Note 50s 5G+](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Infinix Note 50s 5G+ set to launch in India with 64MP camera and MediaTek Dimensity 7300 SoC ![Xiaomi X Pro QLED Series sale starts in India: Check price, availability, and more](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Xiaomi X Pro QLED Series sale starts in India: Check price, availability, and more ![Apple Intelligence AI training](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Apple plans to train AI using your on-device data without accessing personal content or emails: Report ![CMF Buds 2](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### CMF Buds 2 key features and price revealed ahead of April 28 launch: Details inside keep up with tech ![Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/tech-facebook.png) ![Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/tech-twitter.png) ![WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/tech-whatsApp.png) ![Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/tech-facebook.png) ## Gaming ![Check out these five gaming monitors under ₹20,000,](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Top 5 gaming monitors under ₹20000 you should consider ![gaming consoles](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Grab gaming consoles at discounted rates during Amazon Great Indian Festival: Up to 72% off ![Pokémon GO Wild Area 2025](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Pokémon GO Wild Area 2025 to bring Grimmsnarl family, Shiny Hatenna, and global challenges ![Shade Silver](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Shade Silver free on Steam for a limited time: Here’s how to get it ![Call of duty](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Call of Duty: Black Ops 7 skips Switch 2 at launch, release date and price leak ![View all](https://images.hindustantimes.com/tech/static/revamp/images/png/view-all-icon.png) ## Trending News ### Airtel 5G SIM card will now be delivered in 10 minutes with Blinkit- How to order ![Airtel 5G SIM card will now be delivered in 10 minutes with Blinkit- How to order](https://images.livemint.com/static/static/1x1_img.gif) ### Infinix Note 50s 5G+ set to launch in India with 64MP camera and MediaTek Dimensity 7300 SoC ![Infinix Note 50s 5G+](https://images.livemint.com/static/static/1x1_img.gif) ### Xiaomi X Pro QLED Series sale starts in India: Check price, availability, and more ![Xiaomi X Pro QLED Series sale starts in India: Check price, availability, and more](https://images.livemint.com/static/static/1x1_img.gif) ### Apple plans to train AI using your on-device data without accessing personal content or emails: Report ![Apple Intelligence AI training](https://images.livemint.com/static/static/1x1_img.gif) ### CMF Buds 2 key features and price revealed ahead of April 28 launch: Details inside ![CMF Buds 2](https://images.livemint.com/static/static/1x1_img.gif) ## Trending Gadgets Mobiles Laptops Tablets ![HT Tech](https://images.hindustantimes.com/tech/static/revamp/images/png/HT_tech-new.gif) - https://tech.hindustantimes.com/tech/news/tech-budget-2024-govt-launches-rs-1-lakh-cr-fund-for-tech-savvy-youth-will-offer-50-yr-interest-free-loans-71706776856758.html