Role of Pradhan Mantri Mudra Yojana Scheme for Women Entrepreneurship Development in India

Abstract

The entrepreneurial acumen among people of a nation helps it to achieve economic growth and development. However, there should not be any gender disparity while nurturing entrepreneurial ecosystem in the country as “women entrepreneurs have emerged as new drivers for maintaining the growth and prosperity in developing economies”. Although, women constitute “almost half of the population but there remains wide disparity in their economic status particularly in India”. Hence, the Government of India has taken various initiatives for enhancing women participation in the entrepreneurial activities & partnering them in development of the country. Furthermore, Pradhan Mantri Mudra Yojna (PMMY) is considered pivotal in this regard, providing special attention to extend credit to women entrepreneurs.

Therefore, this descriptive study is an attempt to observe gender-wise entrepreneurship generated under the aegis of MUDRA scheme in different loan categories on the basis of number of accounts, beneficiaries and amount sanctioned. Further, the study found that the total number of women account beneficiaries increased substantially; however, at a decreasing rate in the given financial years and 70% of the total loan borrowers are women since the inception of the scheme and majority of these accounts are opened under Shishu scheme. Further, the study found that the share of amount sanctioned was higher in FY 2015-16 for women than the men counterparts, which gradually declined in the subsequent financial years. Therefore, this descriptive study is an attempt to observe gender-wise entrepreneurship generated under the aegis of MUDRA scheme in different loan categories on the basis of number of accounts, beneficiaries and amount sanctioned.

Further, the study found that the total number of women account beneficiaries increased substantially; however, at a decreasing rate in the given financial years and 70% of the total loan borrowers are women since the inception of the scheme and majority of these accounts are opened under Shishu scheme. Further, the study found that the share of amount sanctioned was higher in FY 2023-24 for women than the men counterparts, which gradually declined in the subsequent financial years.