NEW DELHI: Union finance minister Nirmala SItharam on Saturday announced that the government will introduce a

Rs 2 crore term loan scheme

for five lakh first-time women, SC, and ST entrepreneurs.
While presenting the Union Budget for 2025-26, she also said that a

manufacturing mission

will be created for small, medium, and large industries.

Also read: Full coverage on Union Budget
The government will take steps to improve productivity in labour-intensive sectors, she added.

The

credit guarantee cover

will be increased to Rs 20 crore, and the guarantee fee will be set at 1 per cent.
Sitharaman also announced that a national institute for food technology, entrepreneurship, and management will be set up in Bihar.