Just 1 in 5 Mudra beneficiaries started new business, half of extra jobs were self-employment: Govt survey -Aanchal Magazine

-The Indian Express

The Mudra Yojana was launched in April 2015 to provide funding to the non-corporate small business sector through various financial institutions like banks, NBFCs and Micro Finance Institutions (MFIs).

The government’s constant refrain has been that its flagship Mudra scheme is an engine for entrepreneurship and employment. A survey by the Labour Ministry, yet to be made public, offers a reality check: just one out of five beneficiaries (20.6 per cent) from the sample survey availed of Mudra loan for setting up a new establishment, the rest used the funds for expanding their existing business.

The Draft Report on Pradhan Mantri Mudra Yojana Survey conducted by the Labour Bureau under the Ministry of Labour and Employment has found that 1.12 crore additional jobs were created during April 2015-December 2017, the first 33 months following the rollout of the scheme. Of this, 51.06 lakh were self-employed or working owners which also included unpaid family members while 60.94 lakh were employees or hired workers.

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The Indian Express, 4 September, 2019, https://indianexpress.com/article/india/just-1-in-5-mudra-beneficiaries-started-new-business-half-of-extra-jobs-were-self-employment-govt-survey-5963553/?fbclid=

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