: Tuesday, 08 April 2025 1:24 PM
New Delhi . Union Finance Minister Nirmala Sitharaman said on Tuesday that it is happy to know that about 68 percent of the total loan accounts under the Pradhan Mantri Mudra Yojana (PMMY) have been approved to women. The Finance Minister said that this scheme has become a means of empowerment and enables women to contribute to national economic development. Along with this, PMMY also inspires the next generation of women entrepreneurs.
Appreciating the impact of the scheme, the Finance Minister said that as per the announcement of the budget 2024-25, “Last year, the Last year will help the entrepreneurs to expand and use their full capacity with a loan limit of Rs 20 lakhs.”
The PMMY, launched by Prime Minister Narendra Modi on 8 April 2015, is celebrating 10 great years of empowering small and micro entrepreneurs across India.
With a view to promoting financial inclusion, PMMY provides easy, collateral-free loan of up to Rs 10 lakh for non-corporate and non-agricultural income-producing activities.
To strengthen support for ambitious entrepreneurs, the Finance Minister announced to increase the loan limit to Rs 20 lakh during the Union Budget 2024-25.
The newly declared loan category, Tarun Plus, is designed especially for those who have earlier taken loans under the Tarun category and successfully repaid them, allowing them to receive money between Rs 10 lakh to Rs 20 lakh.
In addition, the Credit Guarantee Fund (CGFMU) for micro units will now provide guarantee coverage for these increased loans, which will further strengthen the government’s commitment to nurture a strong entrepreneurship ecosystem in the country.
Finance Minister Sitharaman said, “An amount of more than Rs 33.65 lakh crore has been sanctioned for more than 52 crore Mudra loan account. The scheme has proved to be an important milestone in giving wings to the aspirations of millions of entrepreneurs, especially people associated with the underprivileged sections of the society.”
He said, “Since 2015, Mudra loans worth Rs 11.58 lakh crore have been approved to various disadvantaged communities associated with Scheduled Castes, Scheduled Tribes and OBCs, which realize the Prime Minister’s mantra of ‘Sabka Saath, Sabka Vikas, Sab’s faith and effort’.”
According to Union Minister of State for Finance Pankaj Chaudhary, PMMY is one of the most important initiatives not only in India but also globally, which aims to promote entrepreneurship.
He said, “Financial inclusion is one of the highest priorities of the government, as it plays an important role in achieving inclusive growth. PMMY offers small entrepreneurs to get loan assistance from banks, NBFCs and MFIs to get loan assistance.”
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Web Title-PM Mudra Yojana is enabling women to contribute to economic growth: Finance minister Nirmala Sitharaman
