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  Business   Economy  09 Sep 2017  MUDRA Yojana generates 5.5 crore jobs, says report

MUDRA Yojana generates 5.5 crore jobs, says report

PTI
Published : Sep 9, 2017, 1:22 pm IST
Updated : Sep 9, 2017, 1:22 pm IST

So far Rs 3.42 lakh crore loan has been disbursed to over 8 crore people under the scheme.

MUDRA loan is available for non-agricultural activities for up to Rs 10 lakh.
 MUDRA loan is available for non-agricultural activities for up to Rs 10 lakh.

New Delhi: The Pradhan Mantri MUDRA Yojana (PMMY), which provides access to institutional finance to small business units, has helped in creating 5.5 crore jobs with industrialised states being major beneficiaries, a report said.

Industrialised states like Karnataka, Tamil Nadu and Maharashtra have been the biggest beneficiaries of the PMMY, it said.

The MUDRA scheme was launched by Prime Minister Narendra Modi on April 8, 2015 with an objective to fund the unfunded.

So far, Rs 3.42 lakh crore loan has been disbursed to over 8 crore people under the scheme, mostly small entrepreneurs, a report by SKOCH said.

A substantial number of these people are those who were not involved in any kind of business before.

MUDRA loan is available for non-agricultural activities for up to Rs 10 lakh. Activities allied to agriculture, such as dairy, poultry, bee-keeping etc, are also covered.

Tags: mudra yojana, jobs, pmmy, small business
Location: India, Delhi, New Delhi