A study on Impact of Pradhan Mantri Mudra Yojana on entrepreneurship development in Varanasi district of Uttar Pradesh.
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Date
2022
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Department of Agricultural Economics, Institute of Agricultural Sciences, Banaras Hindu university Varanasi
Abstract
The present study has been carried out with the objective of studying the impact of Pradhan Mantri Mudra Yojana on the entrepreneurship development in Varanasi district of Uttar Pradesh. For this study, the stakeholders who took loan for PMMY in the Varanasi district were selected. Pradhan Mantri MUDRA Yojana (PMMY) scheme was launched by the Hon’ble Prime Minister on April 8, 2015 for providing loans up to 10 lakh to the non-corporate, non-farm small/micro enterprises. These loans are classified as MUDRA loans under PMMY. These loans are given by Commercial Banks, RRBs, Small Finance Banks, MFIs and NBFCs. For availing this loan, borrower can approach any of the lending institutions mentioned above or can apply online through this portal www.udyamimitra.in. Different aspects such as demographic profiles,gender-wise distribution of respondents, their age and educational qualification, family members and their total income was reviewed in the first part. In the second part, profile of the enterprise run by respondents, their type of enterprise and the type of loan availed by them were studied. In the study it was found that females have started availing loans with a participation of 30 percent. The age group of 26 to 45 have the highest percentage of availing loans. Maximum number of stakeholders who took loans were educated and were doing well in their business. Maximum of the members took small token loan in starting their micro and small business. In a country like India with population of more than 1.412 billion needs to work on increasing the ways of income generation. For the generation of income and employment, financial help is required and PMMY scheme is helping in availing a good amount of loan to one who wants to starts a new business or scale up their business. The major constrains faced by respondents were: they had a very less knowledge of availing loans and the time taken in loan disbursement is more. Shishu loan(covering loans upto 50,000 rupees) is the main preference among the people. Overall study shows that these initiatives by the government has helped a larger sector of small and medium class people and they are getting some good results.Also the awareness among the citizen in starting a new venture is increasing day by day which will result in overall growth of nation.
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Pradhan Mantri Mudra Yojana