New Delhi: The government will launch a Rs 2-crore term loan for 5 lakh first-time women, SC and ST entrepreneurs, Finance Minister Nirmala Sitharaman said on Saturday.

Presenting the Union Budget for 2025-26, the finance minister also said a manufacturing mission will be set up for SME and large industries.

Besides, the government will undertake facilitation measures to enhance productivity of labour-intensive sectors, Sitharaman said.

The credit guarantee cover will be doubled to Rs 20 crore, guarantee fee moderated to 1 per cent, she added.

She also said a national institute of food technology, entrepreneurship and management will be established in Bihar.