9 years of Modi Government | Majority of loans under Mudra Yojana given to women entrepreneurs

The Pradhan Mantri Mudra Yojana is a scheme launched by the Modi government in 2015 for providing loans up to Rs 10 lakh to the non-corporate, non-farm small and micro enterprises. These loans are given by commercial banks, small finance banks, MFIs and NBFCs.

The scheme completed 8 years in existence in 2023 and according to government data, 69 percent of 40 crore borrowers under Mudra Yojana are women entrepreneurs. A total of Rs 27 crore mudra loans have been disbursed to women beneficiaries so far.

Also, more than half of the 40 crore loans given under Mudra have been given to SC/ST/OBC entrepreneurs, while 21 percent of the total loans have been sanctioned to new entrepreneurs.

Under the Mudra Yojana, enterprises have been categorised in three baskets based on the need for finance and stage in maturity of the business.

At the Shishu stage, enterprises can get loans up to Rs 50,000. In the Kishore stage, loans above Rs 50,000 and up to Rs 5 lakh can be taken and in the Tarun stage, enterprises can get loans above Rs 5 lakh and up to Rs 10 lakh. If we look at the three categories of the loans, 40 percent of the loan amount has been sanctioned to enterprises in the Rs 50,000 category, 36 percent in the Rs 5 lakh and 24 percent in the Rs 10 lakh category.

If we look at the amount of loans sanctioned and disbursed under the scheme since its inception- in financial year 2015-2016, the number of loans sanctioned stood at 3.48 crore. The amount sanctioned was Rs 1.37 lakh crore and a total of Rs 1.32 lakh crore was disbursed. Since then the number and amount of loan has gone up substantially. In 2019-20, the loan sanctioned reached record of 6.22 crore with Rs 3.37 crore as sanctioned amount and Rs 2.29 crore disbursed.

In the financial year 2021-2022, the number of loans sanctioned under the scheme stood at 5.37 crore. The amount sanctioned stood at Rs 3.39 lakh crore and total disbursed was Rs 3.31 lakh crore.