Comparative Performance of Pradhan Mantri Mudra Yojana (PMMY) in West Bengal and other select States in India

A part of income which is non disposable is saved. Saving and investment are related with each other. So, Income generation is an important thing in developing countries like India. For generating income creation of employment opportunities and self employment is very important. Hence, role of micro f inance to provide loans for starting new business or small business cannot be neglected. It is seen that most of the people who borrow loans are from unorganized sector. Financial inclusion through Pradhan Mantri Mudra Yojana (PMMY) would be instrumental to bring economic change in the society. MUDRA is ‘Micro Unit Development and Ref inance Agency’. This yojana is a reform measure taken by the Government of India to boost up the f inancial condition of micro small and medium enterprises (MSME). The f inancial initiative taken in the form of MUDRA scheme will facilitate the micro units and will be able to provide credits and funds to develop their small businesses. However, initial stages showed signif icant interest but slowed with years. The paper throws light on performance of Scheme in India and also brings out the comparative performance of the Mudra Yojana in West Bengal with the other states like Tamil Nadu, Karnataka, Odisha and Uttarakhand for a period of four years from 2015–16 to 2018–19. The analysis of different categories of schemes is done through trend forecasting. The analysis concludes that people are getting encouraged to develop entrepreneurship by taking initiative to start their own work. It reveals that performance of MUDRA yojana is successful under Kishor and Tarun Categories whereas Shishu category has fallen.