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Credit inflow much lower than small biz need
The New Indian Express Kannur
|April 09, 2025
DESPITE continuing efforts of the government to channelise the formal financing to small businesses, a survey shows though credit availability has improved, the quantum is much lower than what they need.
This segment saw ₹33.6 lakh crore in bank credit under the Mudra scheme over the past one decade. However, more than 40% of such businesses feel the segment needs more fund inflow.
In an interview to a business daily, Prime Minister Narendra Modi has said as much as ₹33.65 lakh crore of credit was extended to 52.37 crore loan accounts under the scheme, launched in April 2015. This, he said, "celebrates 10 glorious years of empowering small and micro-entrepreneurs across India."
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