1 in 5 Mudra beneficiaries started new biz; job creation even less: Survey

Simply put, the number of additional jobs created in 33 months was less than 10 per cent of the total number of loans

A Labour Ministry survey, which has not been made public, shows that just one out of five beneficiaries (20.6 per cent) from the sample survey availed of Mudra loan for setting up a new establishment, the rest used the funds for expanding their existing business, Indian Express reported.

The Draft Report on Pradhan Mantri Mudra Yojana Survey found that 11.2 million additional jobs were created during April 2015-December 2017, the first 33 months following the rollout of the scheme. Of this, 5.106 million were self-employed or working owners which also included unpaid family members while 6.094 million