Mudra loans see record surge, top 5-lakh-cr mark in FY24
Extract:
The Mudra loans have witnessed a significant
surge, crossing the 5-lakh-crore mark in the financial year 2024. The latest
data indicates a remarkable increase in the disbursement of Mudra loans by over
10% in a year.
This surge in Mudra loans signifies a positive trend in
financial inclusion and entrepreneurship support, especially for individuals
seeking to start or expand their businesses.
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My Take:
BMC Says Hafta System Must Continue…….23/10/2023
"In my previous blog regarding the
continuation of the Hafta system, I highlighted the importance of sustaining
existing financial mechanisms to support small businesses and vendors.
The recent surge in Mudra loans to over 5
lakh crores reaffirms the necessity of such financial programs. These loans not
only spur economic growth but also empower individuals to pursue their
entrepreneurial dreams."
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Something is Better Than Nothing…….21/09/2019
"Reflecting on the Mudra loan data
from 2019, where only one in five beneficiaries availed the loan for starting a
new business, while others used it for expanding existing ventures, it's
evident that incremental steps in entrepreneurship have substantial impacts.
The current growth in Mudra loans
exceeding 5 lakh crores underscores the role of such schemes in fostering
business expansion and job creation."
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Call to Action:
To the authorities overseeing the Mudra loan
scheme, I urge for continued support and enhancement of such initiatives to
further boost economic empowerment and job creation.
It is essential to maintain the momentum of disbursing
loans to individuals with entrepreneurial aspirations and ensure that the
allocation aligns with the diverse needs of the business community.
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With regards,
Hemen Parekh
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