Empowerment Boost! Women, SC/ST & Backward Classes to Get Term Loans up to ₹2 Crore

New Delhi (The Uttam Hindu): Finance Minister Nirmala Sitharaman has made a big announcement in her budget speech today. She announced term loans up to Rs 2 crore for women, SC/ST (tribal and scheduled caste) and first-time entrepreneurs from backward classes. The aim of this initiative is to empower the economically deprived sections and increase their participation in the field of entrepreneurship.

Aspiring entrepreneurs will be provided with a term loan of up to Rs 2 crore, which will help them set up their business projects smoothly. The main focus of this scheme is on women, SC/ST and backward class entrepreneurs who have not been able to enter the field of entrepreneurship earlier. This move of the government is an important step to promote economic inclusion, create new employment opportunities and empower the marginalized sections of the society.

Finance Minister Nirmala Sitharaman explained in her speech that this scheme is specially designed for those entrepreneurs who do not have enough capital to set up a business. The government believes that welcoming new talented individuals in the field of entrepreneurship will also boost national economic development.

The government has further announced various initiatives to promote entrepreneurship as well as economically empower people from different sections. The implementation process of this scheme and its impact will be assessed regularly in the future. This budget announcement is considered an important step towards opening a new chapter in the field of entrepreneurship, which will accelerate social and economic development.