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Mudra loan survey: Women get most of the new jobs created in first 33 months

FE Online
mudra loan effect on women

Mudra loan impact survey: Of the total 1.12 crore additional jobs created with Mudra loans during the first 33 months of launch of the ambitious scheme, women cornered as many as 68.92 lakh of these jobs, according to a Draft Report of Mudra Survey reviewed by The Indian Express. Most of the jobs (over 90 per cent) for women, were, however, created in a single category – Shishu loans under which loans up to Rs 50,000 is granted.

In the other two categories – Kishor and Tarun – women managed to get only 5.88 lakh new jobs (5.2 per cent) of the total additional employment generated between April 2015 and December 2017. Men bagged 28.7 per cent (32.2 lakh) of the total jobs created in the two loan categories.

Under Kishor group, one can get loans between Rs 50,000 to Rs 5,00,000 while Rs 5 lakh to Rs 10 lakh is granted under Tarun.

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State-wise results

The draft report of the survey shows that Karnataka added more female workers under the Shishu loans category than any other states. Karnataka alone accounted for 12 per cent of the total additional employment in this category. Odisha followed Karnataka with a share of 6.3 per cent. Maharashtra led all states in creating jobs for women in Kishor and Tarun loan categories. It was followed by Karnataka and Kerala.

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More benefits for women on the way

Women are set to benefit from Mudra loans as one woman in every Self-help Group (SHG) would be made eligible for a loan up to Rs 1 lakh under MUDRA Scheme. In her maiden Budget speech in July this year, Finance Minister Nirmala SItharaman had proposed that for every verified women SHG member having a Jan Dhan Bank Account, an overdraft of Rs.5,000 shall be allowed. One woman in every SHG will also be made eligible for a loan up to Rs. 1 lakh under the MUDRA Scheme, she had said.

In FY 2019-20, as many as Rs 90712 crore of Mudra loans have been sanctioned. Of this, Rs 86848.58 crore has been already disbursed till September 9, 2019, according to the official portal of Pradhan Mantri Mudra Yojana (PMMY) portal.