Budget 2024-25: MUDRA Loan Limit To Be Doubled To Rs 20 Lakh

Presenting th Union Budget 2024-25 in the Parliament, Finance Minister Nirmala Sitharaman announced that the limit of MUDRA loans will be increased to Rs 20 lakh to support MSMEs.

The Budget provides special attention to MSMEs and manufacturing, particularly labour-intensive manufacturing, according to the Minister.

The minister said that a new mechanism has been announced for facilitating continuation of bank credit to MSMEs during their stress period.

Further, the limit of Mudra loans will be increased from Rs 10 lakh to Rs 20 lakh

Turnover threshold of buyers for mandatory onboarding on TREDS platform to be reduced from Rs 500 crore to Rs 250 crore.

Further, Financial support will be provided for 50 multi-product food irradiation units in MSME sector.

Further, e-commerce export bubs will be set up in Public-Private Partnership (PPP) mode to enable MSMEs and traditional artisans to sell their products in international markets.

Also Read: Budget 2024-25: Rs 2 Lakh Crore Package For Employment And Skilling Of 4.1 Crore Youth