Performance of the Pradhan Mantri Mudra Yojana Scheme (PMMY)

Abstract

Micro Small Medium Enterprises (MSME) are considered pillars of the Indian economy due to their considerable contribution to the economy, exports, and employment generation. Today most jobs in the country are created by MSMEs and they contribute significantly to the growth of an economy. While MSMEs occupies an important place in India still majority of them are there in the informal sector. The major problem faced by MSMEs is lack of financial access. The Government should support MSMEs for procuring loans and to market their products. In order to achieve Financial Inclusion, the Government of India introduced Pradhan Mantri Mudra Yojana (PMMY). This paper attempts to study the performance of PMMY in providing financial assistance to MSMEs.