“A corpus of 1 lakh crore rupees will be established with a 50 year interest free loan. The corpus will provide long term financing or refinancing with long tenures and low or nil interest rates,” she said. Sitharaman added that this measure will help in stepping up research and innovation facilitating the progress of the country. “This will encourage the private sector to scale up research and innovation significantly in sunrise domains,’ she said. Such schemes will help the country tap the potential of a large number of young people by training them to handle the new technological innovations, the minister said. “For our tech savvy youth this will be a golden era…We need to have programs that combine the powers of our youth and technology,” she said.
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