Union Cabinet Extends Stand-Up India Scheme Until 2031 With 4,111 Crore Corpus

The Union Cabinet has officially approved the extension of the Stand-Up India Scheme for another five years, continuing the initiative until March 31, 2031. This program is specifically designed to empower <b>women, Scheduled Caste, and Scheduled Tribe entrepreneurs</b> by providing essential financial support to launch new business ventures across the country. Under this extension, the government has allocated a credit guarantee corpus of Rs 4,111 crore to assist at least 2.5 lakh additional entrepreneurs. Eligible applicants can secure loans ranging from Rs 10 lakh to Rs 1 crore for manufacturing, services, trading, and agriculture-allied activities, with an <b>85 per cent loan coverage</b> guarantee. Union Minister Ashwini Vaishnaw confirmed that the guarantee fee is now standardized at 0.5 per cent with no additional risk premium.