As many as 3.49 Crore new entrepreneurs benefited through Pradhan Mantri Mudra Yojana

New Delhi, August 2: In the time period of four years so far under the Pradhan Mantri Mudra Yojana (PMMY), at least 12.27 crore loans of entrepreneurs were sanctioned out of which 3.49 crore were new. This was said by Minister of State for Labour and Employment Santosh Gangwar on Wednesday.

 

In a written reply to a question in Rajya Sabha, Minister Santosh Gangwar said, “Under PMMY, the number of accounts/ number of loans sanctioned during 2015-16 to 2017-18 were 12.27 crore, out of which 3.49 crore were new entrepreneurs.”

Giving the details of the PM Modi’s ambitious scheme, he said that PMMY is a scheme to extend collateral free loans by Banks, Non-Banking Financial Companies (NBFCs) and Micro Finance Institutions (MFIs) to Small/Micro business enterprises and individuals in the non-agricultural sector to enable them to set up or expand their business activities and to generate self-employment.

“Pradhan Mantri Rozgar Protshan Yojana (PMRPY) has been initiated by the Ministry of Labour & Employment in the year 2016-17 for incentivizing employers by paying their entire contribution of 12% (or as admissible) towards the EPS and EPF for all sectors w.e.f. 01.04.2018 to all eligible new employees and is applicable for all sectors for the three years. Till 25th July 2018, the scheme has 61.12 lakh beneficiaries,” Santosh Gangwar added.

The Minister stated that besides this, Government has been taking various steps to boost industrial development, capital formation and employment generation in the country like Make in India, Startup India and Ease of Doing Business initiatives. Government has initiated labour reforms to create an enabling environment to facilitate ease of doing business, ease of compliance, transparency, accountability and extending the social security coverage of the unorganized workers.

“Ministry of Labour and Employment is also implementing National Career Service (NCS) Project for transforming the employment services in the country using technology to bring more employment opportunities to jobseekers,” he concluded.