Budget 2025, Feb. 1 -- Union Finance Minister Nirmala Sitharaman on February 1st came out with good news for the Micro, Small and Medium Enterprises (MSME's) in India. Sitharaman in her eighth budget speech stated that the credit guarantee cover limits and provisions for the sector are going to be enhanced.

Further, for micro enterprises i.e., MSMEs the credit guarantee cover is going to be doubled from Rs.5 crore to Rs.10 crore. This will lead to an additional Rs.1.5 lakh crore credit in the next 5 years.

It is also important to note that customized credit cards with a limit of Rs.5 lakh will be provided for small businesses. For the same the businesses need to be registered on the 'Udyam portal'. This step in the Union Budget 2025 is ...