ENA MSME 2024-07-23 11:47:28 <p><span style="font-size:14px"><strong>New Delhi, Jul 23 (KNN)</strong> Finance Minister Nirmala Sitharaman announced a significant increase in the Micro Units Development and Refinance Agency (MUDRA) loan limit during her 2024 Union Budget speech.</span></p> <p><span style="font-size:14px">The maximum loan amount under the MUDRA scheme has been raised to 20 lakhs, up from its previous limit.</span></p> <p><span style="font-size:14px">This decision comes after recommendations from various Non-Banking Financial Companies (NBFCs) and credit companies during pre-budget discussions. The increase is expected to provide greater financial support to micro and small enterprises across India.</span></p> <p><span style="font-size:14px">The MUDRA scheme, launched in 2015, aims to provide affordable credit to small businesses and entrepreneurs. With this enhancement, more businesses may now access larger amounts of funding to support their growth and operations.</span></p> <p><span style="font-size:14px">Industry experts believe this move will boost the micro-enterprise sector and contribute to job creation and economic growth.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 38702 https://knnindia.co.in/news/newsdetails/msme/finance-minister-increases-mudra-loan-limit-to-20-lakhs-in-budget-2024 2024-07-23 11:47:28 knnindia.co.in