Modi Govt’s Mudra Yojana Created 1.12 Crore Additional Jobs Between 2015 And 2018: Labour Ministry Survey

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.