Tarun Plus Success: Boosting Entrepreneurship under PM Mudra Yojana

The PM Mudra Yojana's Tarun Plus scheme has seen significant growth in FY25, with lenders providing loans up to Rs 20 lakh to 24,557 new beneficiaries within four months. The initiative aims to empower entrepreneurs by offering collateral-free credit, with a significant impact on women and minority groups.

The Tarun Plus scheme under the PM Mudra Yojana has been a remarkable success, adding 24,557 beneficiaries within just four months of FY25. The scheme allows for enhanced loans up to Rs 20 lakh, significantly benefiting new entrepreneurs and fueling economic growth.

Announced by Finance Minister Nirmala Sitharaman, the scheme was officially notified on October 25, 2024. Since then, Rs 3,790 crore in loans have been disbursed under the Tarun Plus category, a significant leap in financial support for budding businesses.

The PMMY, launched in 2015 by Prime Minister Narendra Modi, has sanctioned over 52.37 crore loans, marking its global significance. Notably, a significant portion of these loans support women entrepreneurs and minority groups, with declining average gross non-performing assets, currently at 2.21% for FY24.

(With inputs from agencies.)