Ahmedabad: Finance Minister Nirmala Sitharaman has adopted a commendable way of encouraging backward class women to become entrepreneurs on Saturday. The government has announced a term loan of Rs 2 crore to 5 lakh women of Scheduled Castes and Scheduled Tribes category for the first time in the budget.
The Stand Up India program launched by the government in 2016 has been taken on a new dimension in this budget. The Modi government had announced loans ranging from Rs 10 lakh to Rs 1 crore to women belonging to Scheduled Castes and Scheduled Tribes to become entrepreneurs for the first time in their first term.
Banks were asked to provide such loans in each of their branches. The Economic Survey stressed on increasing the labor force and increasing the participation of women and the government has also increased its focus in this direction in the budget.
Presenting the Union Budget for 2025-26, the Finance Minister said that a manufacturing mission will be set up for SMEs and large industries. Additionally, the government will take convenient measures to increase the productivity of labor-dominated areas.
Nirmala Sitharaman said that the loan guarantee cover will be doubled to Rs 20 crore and the guarantee fee will be reduced to 1 percent.
