REGIONAL ANALYSIS OF PRADHAN MANTRI MUDRA YOJANA

REGIONAL ANALYSIS OF PRADHAN MANTRI MUDRA YOJANA

Dr. Neelu Kumari, Assistant Professor, Department of Economics, Ranchi University, Ranchi – 834001, Jharkhand, India

Nimisha Sinha, Research Scholar, Department of Economics, Ranchi University, Ranchi – 834001, Jharkhand, India

Abstract:

Financial Inclusion is one of the most treasured strategies in India. Our monetary arrangement has dependably been driven by a basic plan of practical and comprehensive development. The primary point behind the monetary consideration is to cover the entire population under monetary administrations. The government of India (GOI) has introduced some of the major steps to “fund the unfunded” micro enterprises segment. One of the initiatives taken by the Government of India (GOI)is the Pradhan Mantri Mudra Yojana (PMMY)which plays an important role in achieving success in financial inclusion. The idea behind the scheme is to provide a credit requirement to small businesses of up to 10 lakhs. This research paper includes an overview of PMMY and a region-wise performance analysis of the Pradhan Mantri Mudra Yojana.

Financial inclusion through PMMY would be instrumental to bring economic change to society. MUDRA is the ‘Micro Unit Development and Refinance Agency’. This yojana is a reform measure taken by the Government of India to boost the financial condition of micro small and medium enterprises (MSME). The financial initiative taken in the form of the MUDRA scheme will facilitate the micro units and will be able to provide credits and funds to develop their small businesses.

Keywords: MUDRA, Regional Analysis, Performance, PMMY, SHISHU, KISHOR, TARUN, Schemes.