Team Blitz India
NEW DELHI: The BJP on April 14 promised to double the Mudra loan ceiling to Rs 20 lakh, further expand the coverage of PM-SVANidhi to villages and reduce the compliance burden on micro, small & medium enterprises (MSMEs).
The Pradhan Mantri Mudra Yojana (PMMY) was launched in 2015 to facilitate collateral-free micro credit of up to Rs 10 lakh to non-corporate, non-farm small and micro entrepreneurs for generating income. Under the PM Mudra Yojana, over 460 million loans worth Rs 27 trillion have been given so far.
“In past years, Mudra Yojana has turned crores of people into entrepreneurs… Looking at this success, BJP has taken one more ‘sankalp’. Under the Mudra Yojana, loans up to Rs 10 lakh were provided. Now, the BJP has decided to increase the limit to Rs 20 lakh.” PM Modi said while launching BJP’s manifesto for the Lok Sabha elections.
