Uttar Pradesh cabinet has approved the implementation of the 'Uttar Pradesh Higher Education Promotion Policy, 2024' to ensure quality education for the youths. Under this policy, sponsoring bodies will be provided stamp duty exemption, capital subsidy and special benefits. Also, additional benefits will be given to universities that rank in the top 50.
Higher Education Minister Yogendra Upadhyay said that this policy will encourage private investment to meet the growing demand for higher education in the state. It will benefit students to get high-quality education in the state itself.
The establishment of private universities will also generate direct and indirect employment opportunities for the youth of the state.
The meeting also approved the setting up of two new private universities in Mathura and Meerut. A letter of intent has been issued to 'Rajiv Memorial Academic Welfare Society' for setting up KD University in Mathura. Similarly, a proposal of 'Vidya Bal Mandali' for setting up Vidya University in Meerut on 42.755 acres of land has also been approved.
With the aim to provide self-employment opportunities to youths, the Uttar Pradesh government has decided to implement a scheme under which subsidy will be provided on loans for projects up to Rs 5 lakh in microenterprises and service sector.
Minister of MSME Rakesh Sachan said that under this scheme, 10 lakh micro units will be established in the next 10 years, through which financial assistance will be provided every year to one lakh educated and trained youths of the state.
The objective of the scheme is to generate employment in rural and urban areas and to connect the youth of the state with self-employment. Under this scheme, the minimum educational qualification of the applicant should be class eight pass, although intermediate pass applicants will be given priority, he said.
(With inputs from PTI)