A Study on The Role of Mudra Scheme in Enterpreneurship Development

Abstract

If any country wants to develop, developing the industrial sector is an indispensable condition. India is currently the most populous country in the world. A situation has arisen for India that on the one hand the supply of labor is increasing day by day, on the other hand the increase in the demand for labor is not proportional, thus the problem of unemployment is becoming serious. One of the major problems of India and the world is unemployment. The government has been trying since the planning period to overcome this problem and for financial inclusion. The government has been making efforts to increase self-employment by launching various schemes. This is the basic question for self-employment or the need for money to start a business. Pradhan Mantri Mudra Yojana (PMMY) was launched on April 8, 2015, by the Hon'ble Prime Minister Shri Narendra Modi to further develop the concept of self-employment, to alleviate the financing problems of small entrepreneurs. A provision was made to give loans to non-corporate, non-agricultural small and micro industries up to the limit of 10 lakhs. The presented scheme has become very popular over the years. Hence the present paper has studied the detailed information about the Mudra Scheme and the financial assistance received by the small entrepreneur. The main objective of the present paper is to do a comparative study of the benefit distribution of this scheme state wise, bank wise, category wiseand the role, benefits of Mudra scheme in entrepreneurship development in India is detailed. At the end of the conclude it is known that the small entrepreneurs have directly benefited from this scheme.