Lok Sabha Question No. 1045 (UNSTARRED), answered on 2025-02-10
Subject: Subsidies for Education Loan
Ministry: EDUCATION
Asked by: Shri Rajmohan Unnithan

## GOVERNMENT OF INDIA MINISTRY OF EDUCATION DEPARTMENT OF HIGHER EDUCATION

## LOK SABHA UNSTARRED QUESTION NO.1045

ANSWERED ON- 10/02/2025

## Subsidies for Education Loan

## 1045. SHRI RAJMOHAN UNNITHAN:

Will the Minister of EDUCATION be pleased to state:

- (a) whether the Government has granted any subsidies for education loan, if so, the details of students benefited, State-wise;
- (b) the details of budget allocation for education loan during the current financial year;
- (c)  whether  allocated  budget  fell  short  of  the  Incheon  Declaration's  target  of  4-6%  of  the nation's GDP, if so, the details thereof;
- (d) the details of funds lapsed during the last three financial years; and
- (e) the details of future plans to secure approval for at least 4% of the GDP as the budgetary allocation for education?

## ANSWER

## MINISTER OF STATE IN THE MINISTRY OF EDUCATION (DR. SUKANTA MAJUMDAR)

- (a)  to  (e):  Under  the  Pradhan  Mantri-Uchchatar  Shiksha  Protsahan  Central  Sector  Interest Subsidy Scheme (PM-USP CSIS) scheme, interest subvention on education loan is provided to students with up to Rs. 4.5 lakhs annual family income for pursuing professional/technical courses in India, as per extant scheme guidelines. Further, under the PM-USP Credit Guarantee Fund  Scheme  for  Education  Loan  (CGFSEL),  credit  guarantee  is  provided  for  education  loans sanctioned up to Rs 7.50 lakh as per extant scheme guidelines.

The guidelines of PM-USP CSIS can be accessed at https://www.education.gov.in/scholarships-education-loan-4. The details of students benefited  under  the  PM-USP  CSIS,  state-wise  for  FY  2023-24  may  be  accessed  at https://www.education.gov.in/parl\_ques. For PM-USP  Central Sector Interest Subsidy Scheme (CSIS) and Credit Guarantee Fund Scheme for Education Loan (CGFSEL), for the year 2023-24, the allocated budget (Final Grant) was Rs. 693 crore.

As per latest published results of the Analysis of Budgeted Expenditure on Education, public expenditure  on  education  including  expenditure  of  Ministry  of  Education,  other  Central Government  Ministries  and  State  Government  as  percentage  of  GDP  during  all  the  years 2019-20, 2020-21 and 2021-22 has been more than 4% of GDP.

*****

Annexure Annexure referred to in reply of Lok Sabha Unstarred Question No.1045 for answer on 10/02/2025 regarding Subsidies for Education Loan asked by Shri Rajmohan Unnithan, Hon'ble Member of Parliament

| SLNO   | FINANCIAL YEAR         | 2023-24      | 2023-24              |
|--------|------------------------|--------------|----------------------|
| SLNO   | CLAIM YEAR             | 2022-23      | 2022-23              |
| SLNO   | STATE NAME             | No of Claims | Amount Claimed In Cr |
| 1      | ANDAMAN AND NICOBARS   | 49           | 0.10                 |
| 2      | ANDHRA PRADESH         | 11346        | 25.13                |
| 3      | ARUNACHAL PRADESH      | 31           | 0.07                 |
| 4      | ASSAM                  | 785          | 1.23                 |
| 5      | BIHAR                  | 8293         | 19.14                |
| 6      | CHANDIGARH             | 265          | 0.53                 |
| 7      | CHHATTISGARH           | 2794         | 5.50                 |
| 8      | DADRA AND NAGER HAVELI | 9            | 0.01                 |
| 9      | DAMANAND DIU           | 11           | 0.02                 |
| 10     | DELHI                  | 2517         | 5.53                 |
| 11     | GOA                    | 379          | 1.01                 |
| 12     | GUJARAT                | 3597         | 9.34                 |
| 13     | HARYANA                | 3126         | 6.76                 |
| 14     | HIMACHAL PRADESH       | 1636         | 2.73                 |
| 15     | JAMMU AND KASHMIR      | 2143         | 2.66                 |
| 16     | JHARKHAND              | 4922         | 10.74                |
| 17     | KARNATAKA              | 56087        | 87.21                |
| 18     | KERALA                 | 64779        | 105.24               |
| 19     | LADAKH                 | 8            | 0.01                 |
| 20     | LAKSHADWEEP            | 2            | 0.00                 |
| 21     | MADHYA PRADESH         | 13980        | 27.86                |
| 22     | MAHARASHTRA            | 30143        | 47.19                |
| 23     | MANIPUR                | 99           | 0.00                 |
| 24     | MEGHALAYA              | 120          | 0.25                 |
| 25     | MIZORAM                | 23           | 0.05                 |
| 26     | NAGALAND               | 19           | 0.05                 |
| 27     | ODISHA                 | 8068         | 14.64                |
| 28     | PUDUCHERRY             | 1133         | 1.88                 |
| 29     | PUNJAB                 | 1409         | 2.83                 |
| 30     | RAJASTHAN              | 5991         | 14.27                |
| 31     | SIKKIM                 | 40           | 0.05                 |
| 32     | TAMILNADU              | 52758        | 75.47                |
| 33     | TELANGANA              | 2795         | 6.20                 |
| 34     | TRIPURA                | 421          | 0.85                 |
| 35     | UTTAR PRADESH          | 16337        | 33.13                |
| 36     | UTTARAKHAND            | 2634         | 4.93                 |
| 37     | WEST BENGAL            | 8321         | 18.65                |
| TOTAL  | TOTAL                  | 307070       | 531.41               |