Empowering Entrepreneurship: The Impact of Mudra Yojana's Rs 33 Lakh Crore Loans

Empowering Entrepreneurship: The Impact of Mudra Yojana's Rs 33 Lakh Crore Loans Union Minister Pankaj Chaudhary announced on Monday the disbursement of more than Rs 33 lakh crore in collateral-free loans to 52 crore people under the Mudra Yojana, aimed at fostering entrepreneurship. Significantly, 68 percent of the beneficiaries are women, underscoring the initiative's role in promoting gender equality in business.During his address at the 77th Indian Revenue Service (IRS) officers' valediction ceremony at the National Academy of Direct Taxes in Nagpur, Chaudhary emphasized the loans' importance in launching new business ventures, which in turn contribute to India's economic development. The loans, ranging from Rs 50,000 to Rs 20 lakh, have played a critical role in driving economic activity.Chaudhary also stressed the government’s consistent efforts in increasing infrastructure budgets, reflecting significant advancements in both rural and urban areas. He urged IRS officers to support Prime Minister Narendra Modi's vision of transforming India into a developed nation by 2047.

Union Minister Pankaj Chaudhary announced on Monday the disbursement of more than Rs 33 lakh crore in collateral-free loans to 52 crore people under the Mudra Yojana, aimed at fostering entrepreneurship. Significantly, 68 percent of the beneficiaries are women, underscoring the initiative's role in promoting gender equality in business. During his address at the 77th Indian Revenue Service (IRS) officers' valediction ceremony at the National Academy of Direct Taxes in Nagpur, Chaudhary emphasized the loans' importance in launching new business ventures, which in turn contribute to India's economic development.

The loans, ranging from Rs 50,000 to Rs 20 lakh, have played a critical role in driving economic activity. Chaudhary also stressed the government's consistent efforts in increasing infrastructure budgets, reflecting significant advancements in both rural and urban areas. He urged IRS officers to support Prime Minister Narendra Modi's vision of transforming India into a developed nation by 2047.

(With inputs from agencies.).