Mudra loan limit doubled
On the day of Diwali, all small and big businessmen worship Goddess Lakshmi. For them it’s like the New Year. The opening of the new accounts book is also done on the day of Diwali. In such a situation, the government has given a big gift to the business community of the country ahead of Diwali. To increase self-employment in the country, the government launched ‘Mudra Yojana’ and on Friday issued a notification to double the limit of loans granted under the same.
The government has now increased the maximum loan limit under Pradhan Mantri Mudra Yojana (PMMY) to Rs 20 lakh. Earlier, this limit was only Rs 10 lakh. Under Mudra Loan, the government provides collateral-free loans to different categories of people to create their own employment.
It was announced in the budget.
In July this year, when the government announced the full budget for the financial year 2024-25, Finance Minister Nirmala Sitharaman announced that the government will double the Mudra Yojana borrowing limit. Now the government has issued its official notification. The Ministry of Finance issued a statement in this regard on Friday and said that through this increase we want to advance the overall objective of the Mudra Plan.
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Presenting the budget in the Lok Sabha, Finance Minister Nirmala Sitharaman said, “The Mudra loan limit will be increased from the current Rs 10 lakh to Rs 20 lakh for those businessmen who have previously taken loans under the Tarun category and have successfully paid. he. “
What is Mudra loan scheme?
Prime Minister Narendra Modi introduced the Pradhan Mantri Mudra Yojana (PMMY) on April 8, 2015. It aims to provide easy loans of up to Rs 10 lakh to non-corporate and non-agricultural small and micro entrepreneurs for productive activities.
As per the current scheme, the bank is offering loans of up to Rs 10 lakh in three categories: Shishu (up to Rs 50,000), Kishore (between Rs 50,000 and Rs 5 lakh) and Tarun (Rs 10 lakh). Now the loan amount in Tarun category has doubled i.e. Rs 20 lakh. Among the millions of people who have benefited from the Pradhan Mantri Mudra Yojana, around 70 per cent are women entrepreneurs.
