So far, about Rs 19 trillion in loans have been made available through the Mudra Yojana. There are about 7 crore entrepreneurs among the borrowers who have started an enterprise for the first time. About 70% of the 36 crore loans provided under the Mudra scheme are given to women entrepreneurs, said Prime Minister Narendra Modi. He took part in the ‘Udyami Bharat’ programme and launched key initiatives such as the Raising and Accelerating MSME Performance (RAMP) scheme, the Capacity Building of First-Time MSME Exporters (CBFTE) scheme, and new features of the Prime Minister’s Employment Generation Programme (PMEGP).
He also issued Digital Equity Certificates to 75 MSMEs in the Self Reliant India (SRI) Fund and digitally transferred assistance to PMEGP beneficiaries for 2022-23. Union Ministers Narayan Rane and Bhanu Pratap Singh Varma, and diplomats from various countries attended the event. A total of R 5 billion were digitally transferred to 18,000 MSMEs across the country.
PM Modi stated that the central government has ensured Rs 3.5 trillion for MSMEs under the Emergency Credit Line Guarantee Scheme. According to a report, this resulted in the saving of about 1.5 crore jobs. The government is taking steps to assist MSMEs in increasing their exports. The Indian Missions in other countries have been instructed to work on this. PMEGP now includes an increase in the maximum project cost to Rs 50 lakh for manufacturing and Rs 20 lakh for services, as well as the inclusion of applicants from aspirational districts and transgenders for higher subsidies. Handholding support is available to applicants/entrepreneurs through the hiring of banking, technical, and marketing experts.