BJP manifesto promises to double the size of Mudra loans to ₹20 lakh for each person
The Pradhan Mantri MUDRA Yojana (PMMY) was launched by Prime Minister Narendra Modi on April 8, 2015, to provide loans up to ₹10 lakhs to the non-corporate, non-farm small/micro enterprises.
In a poll pitch for MSMEs, the BJP manifesto released earlier on Friday promised to double the size of Mudra loans to ₹20 lakh for each individual. Promising easy access to working capital using Digital India Infrastructure, simplification of compliances and laws, and the GST portal include the promises made for MSMEs and small entrepreneurs.
The manifesto has also promised affordable insurance products for small traders to protect against losses from disasters and accidents like fire and theft, along with the expansion of Dak Ghar Niryat Kendras to provide easy export facilities.
The Pradhan Mantri MUDRA Yojana (PMMY) was launched by Prime Minister Narendra Modi on April 8, 2015, to provide loans up to ₹10 lakhs to the non-corporate, non-farm small/micro enterprises.
Classified as MUDRA loans under PMMY, these loans are given by Commercial Banks, RRBs, Small Finance Banks, MFIs and NBFCs. Under the aegis of PMMY, MUDRA has created three products, namely 'Shishu', 'Kishore' and 'Tarun' to signify the stage of growth/development and funding needs of the beneficiary micro unit/entrepreneur.
Starting from 3,48,80,294 loans sanctioned with an amount of ₹1,37,449.27 crores in FY 2015-16, 6,53,65,427 loans were sanctioned in FY 2023-24 with a total amount of ₹528412.93 crores.
The manifesto has also promised affordable insurance products for small traders to protect against losses from disasters and accidents like fire and theft, along with the expansion of Dak Ghar Niryat Kendras to provide easy export facilities.
The Pradhan Mantri MUDRA Yojana (PMMY) was launched by Prime Minister Narendra Modi on April 8, 2015, to provide loans up to ₹10 lakhs to the non-corporate, non-farm small/micro enterprises.
Classified as MUDRA loans under PMMY, these loans are given by Commercial Banks, RRBs, Small Finance Banks, MFIs and NBFCs. Under the aegis of PMMY, MUDRA has created three products, namely 'Shishu', 'Kishore' and 'Tarun' to signify the stage of growth/development and funding needs of the beneficiary micro unit/entrepreneur.
Starting from 3,48,80,294 loans sanctioned with an amount of ₹1,37,449.27 crores in FY 2015-16, 6,53,65,427 loans were sanctioned in FY 2023-24 with a total amount of ₹528412.93 crores.
(Edited by : Vrushali Sawant)
First Published: Apr 14, 2024 1:00 PM IST
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