Need for balanced approach by G20 between development priorities, climate action: FM
Union Finance Minister Nirmala Sitharaman stressed upon a balanced approach between development priorities and climate action during her address at the G20 meet.
As announced by Finance Minister Nirmala Sitharaman in the 2024-25 Union Budget, the limit of Mudra loans under the Pradhan Mantri Mudra Yojana (PMMY) has been enhanced from current Rs 10 lakh to Rs 20 lakh.
This increase aspires to further the overall objective of the Mudra Scheme which is “funding the unfunded.” This enhancement is specifically beneficial to upcoming entrepreneurs facilitating their growth and expansion.
The move is in alignment with the Government’s commitment in fostering a robust entrepreneurial ecosystem.
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As per the notification issued in this regard, the new category of Tarun Plus is for loans above Rs 10 lakh and up to Rs 20 lakh and would be available to entrepreneurs who have availed and successfully repaid previous loans under the Tarun category.
The guarantee coverage of PMMY loans up to Rs 20 lakh will be provided under the Credit Guarantee Fund for Micro Units (CGFMU), the Ministry of Finance announced on Friday.
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