1Assistant Professor, Department of Business Management, Indira Gandhi National Tribal University, Amarkantak, Madhya Pradesh, India
2Research Scholar, Department of Business Management, Indira Gandhi National Tribal University, Amarkantak, Madhya Pradesh, India
The concept of self-reliance in India has gained momentum after the 2019 pandemic, although it has been part of our ancient ethos. The Pradhan Mantri Mudra Yojana (PMMY) was launched in 2015 to provide credit support to the non-corporate, non-farm sector of the economy, especially to the micro-segment, offering credit assistance of up to Rs 10,00,000. This paper examines the role of MUDRA (Micro Units Development and Refinance Agency) in promoting self-reliance in India. The (MUDRA) Yojana was launched to provide refinance support to financial institutions engaged in providing credit support to Micro and Small Enterprises (MSE). Its broader objective was to foster entrepreneurship development, generate employment opportunities, reduce regional imbalances, promote inclusive growth, and contribute to the vision of Atma Nirbhar Bharat. This paper aims to assess various features of the MUDRA Yojana, its impact on the MSE sector, and its contribution to achieving self-reliance. The research examines pertinent literature and statistical information to evaluate MUDRA Yojana’s role in empowering businesses and fostering economic independence.
Self-reliance, Atma nirbhar bharat, PMMY, Mudra yojana, Access to finance
