The Union Budget 2025-26 has brought some big announcements, especially for first-time entrepreneurs, small manufacturers, and labour-intensive industries. Finance Minister Nirmala Sitharaman, while presenting the budget, introduced new schemes aimed at boosting economic activity and creating more jobs in these sectors.
Rs 2-Crore Loan Scheme for Women, SC & ST Entrepreneurs
A major announcement of this year’s budget is the Rs 2-crore term loan scheme for five lakh first-time women, SC, and ST entrepreneurs. This move aims to encourage new businesses and provide financial support to those who often face funding challenges.
Additionally, the government has doubled the credit guarantee cover to Rs 20 crore, reducing the guarantee fee to 1%. This means easier access to funds with lower financial risk for small business owners.
New Manufacturing Mission for SMEs and Large Industries
The budget also announced a manufacturing mission to help small, medium, and large-scale industries. This initiative is expected to streamline production processes and boost local manufacturing, which in turn could generate more jobs and strengthen domestic industries.
Boost for Labour-Intensive Sectors
Sitharaman mentioned that the government will undertake facilitation measures to improve productivity in labour-intensive industries. While details weren’t fully disclosed, this move is expected to benefit sectors like textiles, construction, and agriculture, where a large number of people are employed.
National Institute for Food Technology in Bihar
Another key announcement was the establishment of a national institute for food technology, entrepreneurship, and management in Bihar. This could provide better training and opportunities for those involved in food processing and agribusiness, a sector that has significant growth potential in India.
With these initiatives, the government aims to make business financing easier, boost local manufacturing, and improve job opportunities for many Indians. The real impact of these measures will be seen in the coming months as businesses start taking advantage of the new schemes.
The Union Budget 2025-26 introduces a ₹2-crore loan scheme for women, SC, and ST entrepreneurs, making funding more accessible. A new manufacturing mission aims to boost SMEs and large industries, while a national food tech institute in Bihar is set to enhance agribusiness education. The government has also doubled the credit guarantee cover to ₹20 crore, cutting the fee to 1% for better financial access. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
