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Labour ministry seeks hike in loan ceiling under Mudra, writes to FinMin

Writes to finance ministry for changes in scheme to boost employment, remove disparities

Mudra, loans, banks, employment, jobs
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The report, which is yet to be made public, showed 11.2 million new jobs were created by establishments availing Mudra loans in 3 years from 2015-18, majority of which accounted for self-employment.

Somesh Jha New Delhi
The Union labour and employment ministry has written to the finance ministry suggesting ways to tweak the Pradhan Mantri Mudra Yojana (PMMY) to boost employment and remove disparities.

One of the key suggestions is to ensure that the benefits of the scheme reaches the labour-intensive sectors, especially related to services and trade, so that it can help in generating jobs, along with serving the purpose of giving accessibility to credit. The PMMY was launched in April 2015 to give unsecured loans of up to Rs 10 lakh.

The suggestions, sent by Principal Labour and Employment Advisor BN Nanda to Finance Secretary Rajiv