India, Feb. 1 -- Union finance minister Nirmala Sitharaman on Sunday announced setting up of a new National Institute of Design (NID), three All India Institutes of Ayurveda (AIIA), five university townships near industrial corridors, one girls hostel in every district to support science, technology, engineering and mathematics (STEM) education.

In her budget speech, she proposed to support Indian Institute of Creative Technology (IICT) Mumbai to establish Animation, Visual Effects, Gaming, and Comics (AVGC) content creator labs in 15,000 secondary schools and 500 colleges.

Sitharaman said that the budget is focused on "AI application" and is a "Yuva Shakti (youth power-driven)" one. She shared the government's plans to boost employment...