Current Affairs - Finance - Discussion

The Union Budget 2024-25 raised the Mudra loan limit under the Pradhan Mantri Mudra Yojana (PMMY) from Rs 10 lakh to Rs 20 lakh. This increase includes the introduction of a new "Tarun Plus" category, aimed at supporting entrepreneurs who have successfully repaid previous loans under the "Tarun" category. Loans up to this amount are also covered by the Credit Guarantee Fund for Micro Units, helping to boost credit access and financial support for small business owners and micro-entrepreneurs.