With the help of PM Mudra Yojana, efforts are being made to provide better schemes to the citizens. Under the scheme, any person can apply for a loan up to Rs 20 lakh to start his business. This was announced in the General Budget by Finance Minister Nirmala Sitharaman.
How is help given through this scheme?
Through this scheme, many people including small manufacturing units, service sector units, shopkeepers, fruit and vegetable sellers, truck operators, food service units, retail shopkeepers will be given the opportunity to start their work. The benefit of this scheme will be given to three different categories Shishu, Kishore and Tarun.
People will be given assistance up to Rs 50,000 under the child category, Rs 50,000 to Rs 5 lakh under the adolescent category and Rs 5 to Rs 10 lakh. Under Tarun Plus category, benefits ranging from Rs 10 to Rs 20 lakh will be given. You can apply online for this scheme.
