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Saturday, August 2, 2025

Budget 2025-26 provides impetus to local manufacturing, entrepreneurship

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New Delhi: In a big push to local manufacturing and create more jobs, Finance Minister Nirmala Sitharaman on Saturday while presenting Union Budget 2025-26 in Lok Sabha announced a slew of measures including easier credit for micro and small enterprises, making India a global hub for toys and setting up Fund of Funds for startups.

Sitharaman announced enhanced credit guarantee cover for Micro and Small Enterprises from Rs 5 crore to Rs 10 crore.

For start-ups, the credit guarantee cover would be doubled to Rs 20 crore besides bringing down the guarantee fee down to 1% for loans in 27 focus sectors.

The Budget 2025-26 has also proposed customised credit cards for Micro Enterprises registered on the Udyam portal with Rs 5 lakh limit.

The Finance Minister announced the setting up of a new Fund of Funds for startups with a fresh contribution of another Rs 10,000 crore, in addition to the existing government contribution of Rs 10,000 crore.

The Budget has also proposed a new scheme for 5 lakh women, scheduled castes and scheduled tribes first-time entrepreneurs.

Further, a Focus Product Scheme for Footwear & Leather Sectors will be launched which would facilitate employment for 22 lakh persons, turnover of Rs 4 lakh crore and exports of over Rs 1.1 lakh crore.

The scheme to make India a global toy hub is aimed at creating high-quality toys

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