AN EVALUATION ON THE PRADHAN MANTRI MUDRA YOJANA SCHEME A CONCEPT BASED REVIEW (PMMYS)
Paper Key : IRJ************788
Author: Shanigaram Gangadhar
Date Published: 05 Nov 2022
Abstract: India is a highly populated country. To provide employment is the most challenging task for the Indian Government. India cannot sustain if it does not have small, medium and micro enterprises to create jobs for Indians. More than 20% population have employment opportunities through small, micro, medium scale enterprises. So, Government should provide support to small business by providing loans facilities, training, marketing facilities and exposure to them. In today business environment it is very difficult for small and micro business to survive due to financial illiteracy, lack of information, lack of infrastructure facilities, high cost to establish. To support these businesses Indian Government took initiative in 2015 by launching MUDRA loans and giving collateral free loans. This scheme proves very beneficial for distributing loans to non-corporate small business sector. This research throws light on schemes of Mudra Yojana in India. Entrepreneurs of the nation play an important role in developing an economy. They are considered as the backbone of the nation. Majority of the entrepreneurs face the problem of lack of availability of credit options for their business. After identifying the role of entrepreneurs and Micro, Small & Medium enterprises, government of India has started Pradhan Mantri MUDRA Yojana for providing credit facility. Under this scheme, entrepreneurs can take loan of up to 10 Lakh depending upon their requirements. This research throws light on schemes of Mudra Yojana in India. Keywords: Mudra Yojana, Non-corporate Small Business sectors (NCSBs), Pradhan Mantri Mudra Yojana (PMMY), Bank, Micro Finance Institutions (MFIs), Schemes Entrepreneurs, MSME.