Budget 2025: ₹2cr loan scheme announced for women, SC/ST entrepreneurs
What's the story
Finance Minister Nirmala Sitharaman has unveiled the Union Budget for 2025-26, her eighth consecutive presentation. The budget emphasizes several initiatives to empower women and promote entrepreneurship among them. A key highlight of this budget is a new loan scheme to support women entrepreneurs, mainly first-time business owners from Scheduled Castes (SC) and Scheduled Tribes (ST).
Scheme specifics
Loan scheme details and beneficiaries
The government intends to provide term loans of up to ₹2 crore to five lakh women entrepreneurs in the next five years. The move is expected to facilitate capital access for those who have traditionally struggled to secure credit. Sitharaman stressed that "our economy is the fastest-growing among all major global economies," underscoring India's strong development track record and structural reforms in the last decade.
Economic outlook
Sitharaman outlines government's broader economic vision
Sitharaman detailed the government's larger economic vision, adding that confidence in India's capability and potential has only increased over this period. She views the next five years as a unique opportunity to achieve 'Sabka Vikas,' stimulating balanced growth of all regions. The Finance Minister also announced a manufacturing mission for SME and large industries, and measures to increase productivity in labor-intensive sectors.
Empowerment goals
Government's vision for women's economic participation
The government also aims to increase women's participation in the workforce to 70%. Sitharaman spoke of plans for hostels for working women as well as creches to help them balance work and home responsibilities. During the interim budget, she announced an increase in the target of women beneficiaries under its Lakhpati Didi Scheme from two crore to three crore.