Startups Get a Boost! ₹10,000 Crore Additional Fund Announced, ₹5 Lakh Credit for Small Businesses

New Delhi (The Uttam Hindu): Budget 2025: Union Finance Minister Nirmala Sitharaman presented the General Budget 2025-26 for the eighth consecutive time. During this, the Finance Minister has given a big gift to new and small businessmen. Under this, the Finance Minister has announced a loan of up to 10 crores to MSME and 20 crores for startups. New businessmen will also get a loan of up to two crores in 5 years. Apart from this, small businessmen will also get a credit card of five lakhs from the government.

The Finance Minister informed that the MSME credit guarantee cover for micro enterprises will be increased from Rs 5 crore to Rs 10 crore, providing an additional Rs 1.5 lakh crore of credit over the next five years. He said, 'MSMEs are responsible for 45% of our exports. We need to increase credit access to MSMEs.

Union Finance Minister Nirmala Sitharaman announced an incentive scheme to promote the labor intensive sector in Budget 2025. Under this, a special scheme will be brought for the footwear and leather industry, which will create 22 lakh new employment opportunities. Also, the government also announced that steps will be taken to make India a global hub in the toy sector, which will boost the country's production capacity and exports.