The government has strengthened financial assistance through various loan schemes targeting entrepreneurs, farmers, small businesses, and startups. Key initiatives include the Pradhan Mantri Mudra Yojana (PMMY), offering collateral-free loans up to Rs 20 lakh, and the Stand Up India (SUPI) scheme, providing loans from Rs 10 lakh to Rs 1 crore for SC/ST and women entrepreneurs.
A new scheme, inspired by the success of SUPI, will launch under the Union Budget 2025-26, providing term loans of up to Rs 2 crore for 5 lakh first-time entrepreneurs from marginalized groups over the next five years. Additionally, the Kisan Credit Card (KCC) scheme has increased its loan limit from Rs 3 lakh to Rs 5 lakh, with an effective interest rate of 4% for prompt-paying farmers.
To streamline access, the Jan Samarth Portal offers a unified digital platform for applying to 15 government-sponsored loan schemes, enhancing transparency and reducing paperwork. This information was provided by the Minister of State for Finance, Shri Pankaj Chaudhary, in a written reply to the Rajya Sabha.