Budget update: Mudra loan limit increased from 10 lakhs to 20 lakhs, Balle Balle
News about Mudra loan limit: Finance Minister Nirmala Sitharaman has given a big relief to small businesses by increasing the Mudra loan limit from 10 lakh rupees to 20 lakh rupees in the budget. This step has been taken by the government to promote self-employment under the Pradhan Mantri Mudra Yojana (PMMY).
Doubling the Mudra loan limit will make more money available to small businesses to expand their businesses and take advantage of new opportunities.
The scheme will encourage more people to start their own businesses and seek self-employment, which will increase employment opportunities in rural and urban areas.
With Mudra loans, MSMEs will be able to access bank credit even during times of stress, which will help them maintain financial stability.
Benefit to small investors
This scheme has proved to be a boon for those who are unable to start their own business due to financial constraints. Through this scheme, they can now avail loans of up to Rs 20 lakh which will be directly transferred to the bank account of the beneficiary.
Budget Update 2024 Mudra loan limit increased
The loan limit under Pradhan Mantri Mudra Yojana (PMMY) has been increased from Rs 10 lakh to Rs 20 lakh. The objective of the scheme is to create employment by providing financial support to trade and industries.
- Focus on employment: The government has announced a one-month salary for first-time job seekers and a boost to job creation in the manufacturing sector. The aim is to create 50 lakh new jobs.
- Rural Development and Agriculture: For rural development in the budget Rs. 2.66 lakh crore has been allocated. Many schemes have been announced to help farmers and strengthen the agriculture sector.
- Education: Loans up to Rs 10 lakh have been announced for students for higher education. Emphasis has also been laid on improving women's education.
Other Important Announcements:
- For road connectivity projects Rs. 26,000 crores
- For highways in Bihar Rs. 26 thousand crores
- For the development of Amaravati Rs. 15 thousand crores
- For Urban Housing Scheme Rs. 10 lakh crore
- For youth Rs. 2 lakh crore
The main focus of this budget is to empower the poor, women, youth and farmers. Emphasis is placed on employment generation, rural development and education. These schemes are expected to help strengthen the country's economy and create equal opportunities for all.