Centre's Rs. 1tn fund offers interest-free loans to boost innovation
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Union Finance Minister Nirmala Sitharaman, presented the Interim Budget 2024-25, in the Parliament today. She announced that the Centre will establish a corpus of Rs. 1 lakh crore with 50-year interest-free loans, to boost innovation. This will offer long-term financing at low or zero interest rates for the private companies, so that they can scale up research in the sunrise sectors.