Mudra loan cheque being presented to a group of women in Ongole. File image.
| Photo Credit: The Hindu
As part of the nine priorities highlighted for the 2024 Union Budget, the limit of Mudra loans limit will be enhanced to ₹20 lakh from the current ₹10 lakh for those who have availed and successfully repaid loans previously taken under the Tarun category, Union Finance Minister announced on July 23.
Ms. Sitharaman was presenting Prime Minister Narendra Modi-led government’s first budget of the third term. The theme of this year’s budget focuses on employement, skilling, MSMEs and the middle class, she said.
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Pradhan Mantri MUDRA Yojana (PMMY) was launched on April 8, 2015, by Prime Minister Narendra Modi to facilitate easy collateral-free micro-credit of up to ₹10 lakh to non-corporate, non-farm small and micro-entrepreneurs for income-generating activities.
Loans under PMMY are provided by Member Lending Institutions (MLIs) — banks, non-banking financial companies (NBFCs), microfinance institutions (MFIs) and other financial intermediaries
During the interim budget presentation earlier this year, the government extended 43 crore loans aggregating to ₹22.5 lakh crore under the PM Mudra Yojana
Finance Minister Nirmala Sitharaman today presented the Union Budget 2024 in Parliament today, marking her seventh consecutive budget. She listed put the following nine priorities for the FY 2024-25 Union Budget: productivity and resilience in agriculture, employment and skilling, inclusive human resource development and social justice, manufacturing and services, urban development, energy security, infrastructure, innovation research development, and next generation reforms
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