Medilytix Bureau:

Under Pradhan Mantri Mudra Yojana (PMMY), the Government allocates annual targets for the amount to be sanctioned by more than 150 Member Lending Institutions (MLIs). This was stated by Union Minister of State for Finance Dr Bhagwat Kisanrao Karad in a written reply to a question in Rajya Sabha today.

The Minister stated that MLIs in turn fix their respective State-wise target according to potential of the area, their presence and other related parameters.

Responding to a question on targets of PMMY, the Minister stated that the national level targets under the scheme have been consistently met since inception of the scheme, except for FY 2020-21 due to COVID-19 pandemic. In FY 2020-21, an amount of Rs. 3.22 lakh crore was sanctioned under PMMY against the target of Rs. 3.50 lakh crore.

Under the Scheme, institutional credit up to Rs. 10 lakh is provided by MLIs to micro/small business units for income generating activities in manufacturing, trading, services sectors and also for activities allied to agriculture.

As per data uploaded by MLIs on Mudra portal, the Minister stated that as on 31.12.2021, over 32.53 crore loans involving a sanctioned amount of Rs. 17.32 lakh crore have been extended under PMMY, since its inception in April, 2015.

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