According to the Budget 2018-19, the government intends to disburse loans of up to Rs 3 trillion in the current financial year ending March 31.
In 2017-18, the lending at Rs 2,46,437.40 crore had exceeded the target. In fact, lending under the scheme has exceeded the targets in all previous fiscal.
The scheme was launched on April 8, 2015, for providing loans up to 10 lakh to the non-corporate, non-farm small/micro enterprises.
While presenting the Union Budget 2019-20, the Finance Minister said the government has sanctioned 15.56 crore loans amounting Rs 7.23 trillion under the Mudra scheme, of which an overwhelming majority were woman beneficiaries.
Mudra loans are for non-agricultural activities up to Rs 10 lakh and activities allied to agriculture such as dairy, poultry, bee-keeping are also covered under it.
Loans under Mudra has given categories -- Shishu, Kishore and Tarun.
Shishu covers loans up to Rs 50,000, while Kishore covers above Rs 50,000 and up to Rs 5 lakh. Tarun category provides loans of above Rs 5 lakh and up to Rs 10 lakh.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.