Being a govt employee and taking loan forstarting a Business in wife's name

I am a government Employee. I wish to start a Business in my wife's name. For this I am taking a personal loan of Rs 18 lacs from bank on the pretext of hone renovation and other personal expenses which I wish to pass on to my wife's bank account as a gift amount to my wife. That amount will then be transferred to the firm's account in the name of which my wife will do the Business after GST registration of the firm. Kindly let me know are there any legal implications involved in this? Can I take personal loan of 18 lacs on the pretext of home innovation and other personal expenses and pass it on to my wife's account for helping her start her Business? Kindly suggest from legal Point of view. If there would be any legal implications involved, then I will drop the idea. If there would be no any legal implications involved at a later stage also, Kindly suggest how I would be able to save taxes in this scenario as the Income from her Business would be clubbed with my Income for Taxation. Thank You.