PM Mudra Yojana target doubled to Rs 2.44 lakh crore

Finance Minister Arun Jaitley on Wednesday said the lending target under the Pradhan Mantri Mudra Yojana for 2017-18 has been fixed at Rs 244,000 crore.

Presenting the budget for 2017-18 in the Lok Sabha, Jaitley said the scheme made a significant contribution to the funding of the unfunded and the under-funded.

"Last year, the target of Rs 1.22 lakh crore was exceeded. For 2017-18 I propose to double the lending target of 2015-16 and set it at Rs 2.44 lakh crore," he said.

According to him, priority will be given to Dalits, tribals, backward classes, minorities and women in lending.

Speaking about the Stand Up India scheme, Jaitley said over 16,000 new enterprises have come up through this scheme in activities as diverse as food processing, garments, diagnostic centres and others.

The scheme was launched in April 2016 to support Dalit, tribal and women entrepreneurs to set up greenfield enterprises and become job creators.

--IANS

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