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Centre Sanctions Rs. 3.22 Lakh Cr Under PMMY Against Target Of Rs. 3.50 Lakh Cr In FY 2020-21

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

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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), said Union Minister of State for Finance, Dr Bhagwat Kisanrao Karad in a written reply to a question in Rajya Sabha.

The minister on Tuesday stated that MLIs in turn fix their respective State-wise target according to the 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 the inception of the scheme, except for FY 2020-21 due to the 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, according to the Karad. 

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, he explained. 

 As per data uploaded by MLIs on the 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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