8 years of Modi government: 35 crore Mudra loans sanctioned, 23 crore women beneficiaries

0

Credit and financing to MSMEs: The number of sanctioned Mudra loans for self-employed and MSME entrepreneurs in the last eight years (May 2014 – May 2022) of the ruling Modi government stood at 35 crore while the number of female beneficiaries of the scheme was 23 crore, according to data shared by MSME Minister Narayan Rane. The minister tweeted the data in two separate posts on Twitter highlighting the steps the government has taken so far to promote entrepreneurship. The number of Mudra loans given to women entrepreneurs stood at Rs 8 lakh crore.

The Mudra scheme was launched by Prime Minister Narendra Modi in 2015 for the benefit of micro-enterprises, which are usually owner-operated businesses, and sole proprietorships at the bottom of the entrepreneurial pyramid seeking loans of up to Rs 10 lakh.

However, the volume of loans under the program had fallen below 5 crore in the 2021-22 financial year, the lowest in the past four years, according to official data. 4.89 crores of loans amounting to Rs 3,10,563.84 crores were sanctioned in FY22, of which Rs 3,02,948.49 crores of loans were disbursed. The amount sanctioned and disbursed in FY22 was also the lowest in the period, according to data from the Mudra portal.

Subscribe now to the Financial Express SME newsletter: your weekly dose of news, views and updates from the world of micro, small and medium enterprises

On the other hand, lenders had reported an increase in non-performing assets (NPAs) of Mudra, with the value of gross NPAs or bad debts reaching Rs 34,090.34 crore in FY21, up 30 .7% from Rs 26,078.43 crore in FY20, and nearly doubled from Rs 17,712.63 crore in FY19, according to data shared by Minister of State for Finance Bhagwat Karad on November 30, 2021, in Rajya Sabha.

Other data related to female entrepreneurs shared by Rane include 500% growth of female entrepreneurs on government e-commerce portal Government eMarketplace (GeM) in FY22, loans of Rs 24,800 crore to women under the Stand-Up India program and 46 percent. hundred of startups recognized by the government and led by women.

Share.

Comments are closed.