Mumbai, Feb. 1 -- Finance minister Nirmala Sitharaman on Saturday announced a slew of measures to boost availability of credit to small businesses and street vendors through a guarantee scheme and credit cards.

First, Kisan Credit Cards (KCC) loan limit will be increased to Rs.5 lakh, from Rs.3 lakh earlier, according to the Union budget proposal. Started in 2008, the KCC scheme is meant to allow farmers access credit. As of 31 March 2024, total amount outstanding under the KCC scheme stood at Rs.9.8 trillion, up from Rs.8.9 trillion in FY23, and Rs.9.4 trillion in FY22, as per data presented in the Lok Sabha on 30 July 2024.

Second, the government will increase the credit guarantee cover for a clutch of sectors. These include doubling ...