The government on Tuesday (19 July) informed that over 11.29 crore loans worth Rs 6.41 lakh crore were disbursed under Pradhan Mantri Mudra Yojana (PMMY) across the country during FY20 and FY21.
PMMY is a scheme launched by Prime Minister Narendra Modi in April 2015 for providing loans up to 10 lakh to the non-corporate, non-farm small and micro enterprises. These loans are classified as MUDRA loans under PMMY and are given by commercial banks, RRBs, small finance banks, MFIs and NBFCs.
"Under Pradhan Mantri Mudra Yojana (PMMY) over 11.29 crore loans amounting to Rs. 6.41 lakh crore have been disbursed across the country during FY 2019-20 and FY 2020-21 as informed by Member Lending Institutions (MLIs)," Union Minister of State for Finance Bhagwat Kisanrao Karad stated in a written reply to a question in the Rajya Sabha on Tuesday (19 July).
The minister also stated that over 30 crore loans amounting to Rs.15.97 lakh crore have been sanctioned under PMMY since inception of the scheme in April 2015.
Responding to a question about the scheme helping in reduction of unemployment , the minister stated that as apprised by the Ministry of Labour and Employment (MoLE), a sample survey was conducted at the national level to estimate employment generation under PMMY, a Ministry of Finance statement said.
As per the survey results, PMMY helped in generation of 1.12 crore net additional employment during a period of approximately 3 years (i.e. from 2015 to 2018), the minister said.
At an overall level, Shishu category of loan has about 66 per cent of share among additional employment generated by establishments owned by MUDRA beneficiaries followed by Kishore (19 per cent) and Tarun (15 per cent) categories respectively.
However, the minister stated, data pertaining to unemployed persons who have been extended loans under PMMY is not maintained by the government as a separate category.
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.