Interim budget 2014: Chidambaram's subsidy on education loan to help 9 lakh students

Finance Minister P Chidambaram today in the interim budget 2014 announced a subsidy scheme on education loans taken before March 31, 2009, a move which will help 9 lakh students. Under the scheme, the government will pay the outstanding interest liability for the period till December 31, 2013, but the borrower would have to pay interest for the period after January 1, 2014. Presenting the interim budget in the Lok Sabha today...