New Delhi, Feb. 1 -- In the Union Budget 2025, India's finance minister, Nirmala Sitharaman, announced considerable funding for business owners, particularly women and those from SC/ST categories. This is a new scheme to facilitate inclusive economic growth, which gives term loans of up to Rs.2 crore to first-time borrowers from these categories.

In her address, FM Sitharaman focused on the 'Viksit Bharat'-Vision of Developed India-free of poverty, educated, a healthy society with high economic prosperity-that marks the eighth Union Budget presentation and the first full budget under the Modi 3.0 government.

"For 500,000 first-time entrepreneurs, including women, ST and SCs, a new scheme, to be launched, to provide term loans up to Rs.2...