Authors :
Dr. Neelu Kumari; Nimisha Sinha
Volume/Issue :
Volume 8 - 2023, Issue 2 - February
Google Scholar :
https://bit.ly/3IIfn9N
Scribd :
https://bit.ly/3kxqtrV
DOI :
https://doi.org/10.5281/zenodo.7676764
Abstract :
Saving and investment are important aspects
in the development of any economy and are much
needed for the capital formation of the economy which is
an important aspect in developing countries like India.
For generating income creation of employment
opportunities and self-employment is very important.
For this, microfinance plays a key role in starting new
businesses or small businesses. People still borrow loans
from the unorganized sector at a very high-interest rate.
To fulfill the need for finance, the Govt. of India
launched Financial inclusion through Pradhan Mantri
Mudra Yojana (PMMY) which would be instrumental to
bring economic change to society. MUDRA is the ‘Micro
Unit Development and Refinance Agency’. Mudra
yojana is a measure taken by the Government of India to
boost the financial condition of micro small and medium
enterprises (MSME). The financial initiative taken by
the Govt. in the form of the MUDRA scheme will
facilitate the MSMEs and will be able to provide credits
and funds to the unfunded to develop their small
businesses. The paper throws light on the performance
of the Scheme in India and also brings out the
comparative performance of the Mudra Yojana in
Jharkhand with other top ten states like Tamil Nadu,
Karnataka, Odisha, Uttarakhand for three financial
years from 2015-16, 2018-19, and 2021-22. The analysis
concludes that people are getting encouraged to develop
entrepreneurship by taking initiative to start their work.
It reveals that the performance of the MUDRA yojana is
successful under Shishu, Kishor, and Tarun Categories.
Keywords :
inancial-Inclusion, Micro-Unit, Income Generation, Self-Employment, Entrepreneurship, Investment
Saving and investment are important aspects
in the development of any economy and are much
needed for the capital formation of the economy which is
an important aspect in developing countries like India.
For generating income creation of employment
opportunities and self-employment is very important.
For this, microfinance plays a key role in starting new
businesses or small businesses. People still borrow loans
from the unorganized sector at a very high-interest rate.
To fulfill the need for finance, the Govt. of India
launched Financial inclusion through Pradhan Mantri
Mudra Yojana (PMMY) which would be instrumental to
bring economic change to society. MUDRA is the ‘Micro
Unit Development and Refinance Agency’. Mudra
yojana is a measure taken by the Government of India to
boost the financial condition of micro small and medium
enterprises (MSME). The financial initiative taken by
the Govt. in the form of the MUDRA scheme will
facilitate the MSMEs and will be able to provide credits
and funds to the unfunded to develop their small
businesses. The paper throws light on the performance
of the Scheme in India and also brings out the
comparative performance of the Mudra Yojana in
Jharkhand with other top ten states like Tamil Nadu,
Karnataka, Odisha, Uttarakhand for three financial
years from 2015-16, 2018-19, and 2021-22. The analysis
concludes that people are getting encouraged to develop
entrepreneurship by taking initiative to start their work.
It reveals that the performance of the MUDRA yojana is
successful under Shishu, Kishor, and Tarun Categories.
Keywords :
inancial-Inclusion, Micro-Unit, Income Generation, Self-Employment, Entrepreneurship, Investment
