Article Abstract
International Journal of Advance Research in Multidisciplinary, 2023;1(2):164-166
MUDRA Yojana: Boom to Women Entrepreneurs in India
Author : Prashanti and Dr. Siddappa
Abstract
India has vibrant ecosystem for entrepreneurship and also been witnessing an increase in the number of women entrepreneurs in recent years. Despite of progress made in recent years, women entrepreneurs in India are still facing several problems, among them access to finance is the major challenge. At this stage Government of India has taken an incredible initiative i.e., “Pradhan Mantri Mudra Yojna (PMMY)”. The aim of the study is to assess the progress of MUDRA Yojana for booming women entrepreneurs since its inception in India. The study concludes that the Mudra yojana has positive growth over the years for women entrepreneurs. The Shishu scheme (smaller loan) holds highest average annual Number of Accounts and Sanctioned loan amount as against to Kishor and Tarun schemes and it has highest consistency. Hence, the smaller loan amount scheme of MUDRA yojana is more popular among women entrepreneurs, because MUDRA has adopted unconventional mode for sanctioning the loans. Overall, the study suggested that, the increasing number of accounts and amount sanctioned under schemes of MUDRA yojana booming to Women Entrepreneurs in India over the years.
Keywords
Financial inclusion, MUDRA Yojana, Micro credit and women entrepreneurs