Mudra Yojana Generated 1.12 Crore Jobs, 67% Loans To Women: Govt

New Delhi, Feb 3 (KNN) The Pradhan Mantri Mudra Yojana (PMMY) has significantly strengthened access to institutional credit for women entrepreneurs, with nearly 67 percent of loans sanctioned under the scheme going to women beneficiaries, the government informed the Lok Sabha.

In a written reply, Minister of State for Finance Pankaj Chaudhary said that the government has undertaken two major assessments of PMMY since its launch, covering women beneficiaries as well.

The first assessment was conducted by the Ministry of Labour and Employment (MoLE) in 2018, while the second was carried out by NITI Aayog in November 2023.

According to the MoLE study, which involved a large national-level sample survey, the Mudra scheme helped generate 1.12 crore net additional employment over a period of around three years between 2015 and 2018, highlighting its role in promoting self-employment and micro-enterprise growth.

The NITI Aayog assessment reviewed the scheme across parameters such as scheme design, implementation, institutional mechanisms, and monitoring and evaluation.

The study noted that PMMY has played a key role in enhancing financial inclusion of women entrepreneurs, with women accounting for about two-thirds of the total loans sanctioned under the scheme.

The findings underline PMMY’s contribution to women-led entrepreneurship, employment generation and inclusive economic growth, particularly in the micro and small enterprise segment.

(KNN Bureau)