Government Likely to Extend MUDRA Scheme

The government is thinking about extending a special loan program called Pradhan Mantri MUDRA Yojana (PMMY) for another five years until 2030-31.

This program helps small businesses and entrepreneurs get loans without needing collateral.

It was started in 2015 and is set to end in 2026.

The loans are for up to ₹20 lakh, and the program has given out a lot of money to help people start and grow their businesses.

The government thinks this program is important for helping people who might not otherwise get loans, especially those from marginalized backgrounds.

There is a small risk of people not being able to pay back the loans, but the government believes the benefits are worth it.