PM Narendra Modi at an event related to PM MUDRA Yojana ( Image Via narendramodi.in)In a key achievement, more than 28.68 crore loans for an amount of Rs 14.96 lakh crore have been sanctioned as on 19 March 2021 since the launch of Pradhan Mantri MUDRA Yojana (PMMY).
PMMY was launched by the Hon’ble Prime Minister on 8 April, 2015 for providing loans upto Rs 10 Lakh to the non-corporate, non-farm small/micro enterprises.
Under PMMY collateral free loans of upto Rs 10 Lakh are extended for income generating activities in manufacturing, trading and services sectors and for activities allied to agriculture.
In FY 2020-21 alone, 4.20 crore PMMY loans for an amount of Rs 2.66 lakh crore were sanctioned, the Ministry of Finance said in a statement.
While the average size of the loan is about Rs 52,000, 88 per cent of all the loans are of ‘Shishu’ category i.e loans covering loans upto Rs 50,000.
As per a survey conducted by Ministry of Labour and Employment, PMMY helped in generation of 1.12 crore net additional employment from 2015 to 2018. Out of the 1.12 crore of estimated increase in employment, Women accounted for 69 lakh (62 per cent).
Also indicating the inclusiveness of the scheme, about 68 per cent of the loans have been given to women entrepreneurs and about 51 per cent of the loans have been given to SC/ST/OBC borrowers.
An Appeal...
Dear Reader,
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.