Loan amount under MUDRA scheme to be doubled, promises BJP

New Delhi: The BJP aims to double the maximum loan amount under its flagship MUDRA scheme once the party returns to power after Lok Sabha elections. The election manifesto released by the BJP today at the party headquarter Delhi, promises to double the Mudra loan amount to Rs 20 lakh.
The manifesto outlines several proposals aimed at enhancing the MUDRA Scheme to foster entrepreneurship and create livelihood opportunities for all sections of society, including OBC, SC, and ST communities.
The manifesto says, "BJP will expand livelihood opportunities for all families, including OBC, SC & ST, by measures like doubling the MUDRA loan limit to Rs 20 lakh".
It further added, "Our policies have been successful in creating a substantial number of employment opportunities. Our strategic focus on sectors like manufacturing, services, rural industry, infrastructure, tourism, and skill development, coupled with support through credit facilities via Svanidhi and Mudra, has greatly expanded livelihood prospects".
The objective of the Pradhan Mantri Mudra Yojana (PMMY) is to provide access to institutional finance to new or existing micro unit/enterprises up to Rs 10 lakh which the BJP in its manifesto promises to double to Rs 20 lakh.
A key highlight of the manifesto is the promise by the party to double the MUDRA loan limit to Rs 20 lakh, providing aspiring entrepreneurs with greater financial support to start and sustain their ventures. Under this initiative, entrepreneurs who have availed and successfully repaid previous loans under the Tarun category will be eligible for the enhanced loan limit.
The manifesto highlights the success of the MUDRA loan scheme in generating employment opportunities in manufacturing, services, rural industry, infrastructure, tourism, and skill development.
Moving forward, the BJP vows to further expand credit programs like MUDRA to support aspiring entrepreneurs in realizing their business goals. By doubling the MUDRA loan limit and extending financial assistance to individuals with a proven track record of loan repayment, the party aims to stimulate economic growth and a culture of entrepreneurship in the country.
So far more than 46 crore loans worth Rs 27 lakh crore have been given under the PM Mudra Yojana.