New Delhi, Feb. 1 -- Finance Minister Nirmala Sitharaman announced in the Union Budget that micro enterprises registered on the Udyam portal will be eligible for a credit limit of up to Rs 5 lakh.

This initiative aims to enhance financial accessibility for small businesses, facilitating their growth and contribution to the economy.

The Udyam portal serves as an official platform for MSME registration, streamlining processes and providing various benefits to registered enterprises.

By offering a substantial credit limit, the government seeks to empower micro enterprises, enabling them to expand operations, invest in new technologies, and improve competitiveness.

The MSME sector is a cornerstone of India's economy, comprising approximat...