Performance of Pradhan Mantri Mudra Yojna (PMMY) in Haryana State

People are depending upon small scale businesses as their source of livelihood in India. Most of the individuals depend on unorganised sectors for loans and other credit facilities have high rate of interest unexpected and unbearable terms and conditions. This kind of problem leads these poor people to fall in debts. Majority of this sector does not have any formal source of investment. In a Developing country having large population like India, small business units play a significant role not only in contributing to nation income but also by providing employment to a large demographic profile. Government of India launched Micro Units Development and Refinancing Agency known as MUDRA in 2015 for providing institutional financial support to micro and small enterprises.

PMMY is one of the most important schemes of promotion of financial inclusion in India. Under this scheme, people can take easily a loan up to Rs. 10 lakh to start their businesses. This paper aims to highlight the overview, product offered, and performance of PMMY in India especially in Haryana. This paper focuses on the development of PMMY with respect to the industries of Haryana.