Key Takeaways
- The Union Budget 2025 has allocated a fresh contribution of Rs 10,000 crore to the Fund of Funds for startups.
- The Budget 2025 has earmarked Rs 500 crore for setting up three Centres of Excellence focused on leveraging AI for education.
- IIT Patna is set to witness an expansion as part of the government’s commitment to strengthening higher education institutions.
New Delhi: Finance Minister Nirmala Sitharaman, while presenting the Union Budget 2025 in the Lok Sabha here on Saturday, announced a fresh contribution of Rs 10,000 crore to the Fund of Funds (FoF) for startups, supplementing the government’s existing Rs 10,000 crore commitment.
She highlighted that the FoF for startups has so far received commitments amounting to over Rs 9 lakh crore, reflecting its significant role in fostering entrepreneurial growth in the country.
Further, Sitharaman stated that additional infrastructure would be developed in the Indian Institutes of Technology (IITs) established post-2014. Among these, IIT Patna is set to witness an expansion, underscoring the government’s commitment to strengthening higher education institutions across the country.
To bolster advancements in artificial intelligence (AI) for education, the Budget 2025 has earmarked Rs 500 crore for setting up three Centres of Excellence. These centres will focus on leveraging AI to enhance educational tools, research, and skill development, aligning with the government’s vision of a technology-driven knowledge economy
