New Delhi, Feb. 2 -- Union finance minister Nirmala Sitharaman announced the setting up of a new National Institute of Design in eastern India, five university townships near industrial corridors, and a reduction in the Tax Collected at Source (TCS) under the Liberalised Remittance Scheme (LRS) for education abroad from 5% to 2%. Sitharaman said the budget was focused on "AI application" and "Yuva Shakti (youth power-driven)." She proposed a high-powered standing committee on 'Education to Employment and Enterprises' to recommend measures on the services sector. "This will make us a global leader in services with a 10% global share by 2047," she said, adding the panel will assess how AI impacts jobs and recommend skill measures. The committ...