Question
Under The PM Mudra Yojana, the government introduced a
new loan category Tarun Plus for MSMEs in the Budget 2024-25. Up to what amount of loan is covered under this category?Solution
The Pradhan Mantri Mudra Yojana has introduced a new category called "Tarun Plus" to cover loans ranging from ₹10 lakh to ₹20 lakh. This new limit took effect on October 24, 2024. This announcement also introduces a new loan category, Tarun Plus, designed specifically for those who have previously availed and successfully repaid loans under the Tarun category, allowing them to access funding between ₹10 lakh and ₹20 lakh. The Mudra Loans include:
- Shishu: Up to Rs 50,000
- Kishore: Above 50,000 to Rs 5 lakh
- Tarun: Above 5 lakh to Rs 10 lakh
- Tarun Plus: Above 10 lakh to 20 Lakh
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