Over 25,000 new businesses fostered, generating 50,000 jobs
VAIBHAV PARWAT
Chhatrapati Sambhajinagar: The Pradhan Mantri Mudra Yojana (PMMY), has lead to a surge in businesses and employment opportunities in the Chhatrapati Sambhajinagar district. Over the past year, an impressive 25,069 new businesses and industries have been established, leading to the creation of a staggering 50,000 fresh job roles.
Breathed life in rural enterprises
Initiated in April 2015, the PMMY has not only breathed life into large urban enterprises but has also nurtured medium-scale industries across rural areas of the district. This pioneering scheme has invigorated the entrepreneurial spirit within the community.
Support for varied ventures
Under the Shishu loan scheme, a sum of Rs 60 crores has been disbursed, kick-starting 17,474 new enterprises and providing employment to 10,000 individuals. The Kishore loan has facilitated loans totaling Rs 80 crores, fostering 6,361 businesses and offering jobs to 17,000. Through the Tarun loan scheme, loans worth Rs 97 crores have been granted, leading to the inception of 1,224 industries and extending employment to 23,000.
Small to substantial loans
From micro-businesses to substantial industries, the PMMY has granted loans ranging from Rs 50,000 to Rs 50 lakhs, and even up to Rs 10 lakhs under the Tarun Yojana. This diverse range has fueled the establishment of businesses spanning garment manufacturing, bakeries, dry-cleaning services, fruit stalls, and mechanized production units, vitalizing the district's economic landscape.
Outstanding of Rs 55 crore
An outstanding amount of Rs 55 crores poses a hurdle for aspiring entrepreneurs seeking loans, impacting the smooth flow of funds in the district. Furthermore, with 30 percent of initiated businesses currently inactive, sustaining entrepreneurial ventures remains a concern.
Multifaceted participation of financial institutions
A collaborative effort from 21 banks, including 8 private and 13 government institutions, has enabled the distribution of loans worth Rs 218.75 crores during the year. Since its inception until March 31, 2022, the PMMY under the Shishu loan extended loans amounting to Rs 325 crores to 1,09,000 beneficiaries, while the Tarun scheme facilitated loans of Rs 465 crores to 6,653 individuals.