LIE: 13 crore MUDRA loans were distributed, boosting entrepreneurship and jobs

Modi Lies / Wednesday, August 15th, 2018

While the number of loans granted have exceeded 13 crore but the real question remains if the policy has managed to achieve its objectives. The idea of giving out loans was to promote entrepreneurship but like any other scheme this has failed to achieve the same. According to the latest data on MUDRA loans disbursed, 90.8% of loans are disbursed to accounts which are under Rs. 50,000. Only 1.4% are disbursed to accounts which are over Rs. 5 lakhs. Moreover, the average size of loans given is Rs 47,305 which is not enough to generate employment.

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Image Courtesy: Open Naukri

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