Interim budget 2014 : Youth are on focal point

Finance Minister P. Chidambaram on his last lap taps keen on new voter. In the interim budget of UPA-II FM pitch many youth based packages like study loan subsidy, skill development mission, research funding organization and many more. Chidambaram focused on the scheme introduced by former FM and President of India, Pranab Mukharji in 2009-10 financial year called Central Scheme for Interest Subsidy (CSIS). Five year after the introduction of CSIS again finance minister look into the scheme perhaps this year is also loksabha election year like 2009. Whatever the objective of the central government behind the scheme to provide subsidy for 9 laks jobless student but it is a gift for the student who has not recovered their capital and interest amount. In the scheme government will bears the interest amount up to December 2013of the student who has borrowed before March 31, 2009. The students have to pay the amount of interest after January 01, 2014. Central government have to transfer a sum of 2,600 crore to Canara Bank which is the designated bank for CSIS. It may be a biased plan under the scheme to subsidize interest for students who are unable to refund their capital amount. In the current scenario the banks are collecting 12.5 % of interest per year from students. It may be welcomed by the students who are unable to recover but in the other hand if the government will announce to decrease the rate of interest for study loan then student may happier. By announcing to establish a new research funding organization which will select projects through competitive bidding finance minister tries to impress the research scholars. 1,000 crore is being granted to increase more and more skilled labor under the National Skills Development Mission and 200 arore for venture capital fund for schedules castes youth. To draw the attention of women voter FM allocate 1,000 crore of non-lapsable fund to provide women security under the Nirbhaya Fund. The youth are the centre of mobile, TV, computer, camera, bike and soap user. Keeping in mind government reduce the price of the material those are mostly being used by youth. In the epoch of Information society to provide more information with the help of community radio the central government approves 100 crore for community radio development scheme. Whatever the schemes of government are being introduced in India the governments are running behind to impress the different target group for vote bank policy not behind development of the nation.

B.N. Panda
M.Sc. (Electronic Media)

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