A revamped ‘model skill loan scheme’ for skill development courses was launched by the government, with a fresh maximum loan limit of Rs 7.5 lakh — up from the previous amount of Rs 1.5 lakh.

Finance Minister Nirmala Sitharaman had announced that the model skill loan scheme will be “revised to facilitate loans up to Rs 7.5 lakh, with a guarantee from a government-promoted fund”.

“This is expected to help 25,000 students every year,” Sitharaman had said.