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8 years of Modi govt: 35 crore Mudra loans sanctioned, 23 crore women beneficiaries

Credit and Finance to MSMEs: Mudra scheme was launched by Prime Minister Narendra Modi in 2015 to benefit micro enterprises, which are generally proprietary concerns, and individual businesses at the bottom of the entrepreneurial pyramid seeking loans up to Rs 10 lakh. 

narayan rane
GeM portal saw 500 per cent growth of women entrepreneurs in FY22, Narayan Rane tweeted.

Credit and Finance to MSMEs: The number of Mudra loans sanctioned to self-employed individuals and MSME entrepreneurs over the past eight years (May 2014 – May 2022) of the Modi government in office stood at 35 crore while the number of women beneficiaries of the scheme was 23 crore, according to the data shared by MSME Minister Narayan Rane. The minister tweeted the data in two separate posts on Twitter highlighting the steps taken by the government so far to promote entrepreneurship. The number of Mudra loans sanctioned to women entrepreneurs amounted to Rs 8 lakh crore.

Mudra scheme was launched by Prime Minister Narendra Modi in 2015 to benefit micro enterprises, which are generally proprietary concerns, and individual businesses at the bottom of the entrepreneurial pyramid seeking loans up to Rs 10 lakh. 

However, the loan volume under the scheme had slipped below 5 crores in the financial year 2021-22, the lowest in the past four years, as per the official data. 4.89 crore loans amounting to Rs 3,10,563.84 crore were sanctioned in FY22, of which Rs 3,02,948.49 crore loans were disbursed. The amount sanctioned and disbursed in FY22 was also the lowest during the period, according to the data from the Mudra portal.

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On other hand, lenders had reported a jump in Mudra non-performing assets (NPAs) with the value of gross NPAs or bad loans growing to Rs 34,090.34 crore during FY21, up 30.7 per cent from Rs 26,078.43 crore in FY20, and nearly doubled from Rs 17,712.63 crore in FY19, according to the data shared by the Minister of State for Finance Bhagwat Karad on November 30, 2021, in Rajya Sabha. 

Among other data related to women entrepreneurs shared by Rane included 500 per cent growth of women entrepreneurs on the government’s e-commerce portal Government eMarketplace (GeM) in FY22, Rs 24,800 crore loans to women under the Stand-Up India scheme, and 46 per cent of government-recognised startups led by women. 

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