Loans worth Rs 20 trillion disbursed under MUDRA scheme, says PM Modi

PM Modi said loans worth Rs 20 lakh crore have been disbursed so far under the Centre's MUDRA scheme to provide self-employment opportunities to the youth

Prime Minister Narendra Modi on Thursday said loans worth Rs 20 lakh crore have been disbursed so far under the Centre's MUDRA scheme to provide self-employment opportunities to the youth, and added that Maharashtra was one of its major beneficiaries.

In a video message aired during an event here to distribute appointment letters as part of the Maharashtra government's aim to provide employment to 75,000 people, Modi said his government was providing assistance to start-ups and micro industries as well.

The Pradhan Mantri MUDRA Yojana (PMMY) scheme was launched by the Modi government in April 2015 to provide loans up to Rs 10 lakh to the non-corporate, non-farm small/micro enterprises.

"Youths play an important role in making India a developed country. The Centre has started a programme to provide 10 lakh jobs and on the same lines, the Maharashtra government has launched a scheme to provide employment to 75,000 people. It is a matter of pride that maximum recruitment will be done in home and rural development departments,'' Modi said.

He added that his government was working to strengthen the micro industry sector.

Self-help groups (SHGs) in rural areas are being encouraged. In the last eight years, eight crore women working in SHGs have been provided with funds of up to Rs 5.5 lakh crore. SHGs have created opportunities for manufacturing and employment. Since investment is being done on infrastructure, employment opportunities are being created, he said.

The prime minister said railway projects worth Rs 75,000 crore and road development projects worth Rs 50,000 crore are in progress, due to which employment opportunities have been created, he added.