Three crore people given loans under MUDRA scheme

About three crore people were given loans under the MUDRA scheme in the last fiscal. Finance Minister Arun Jaitley said in New Delhi that the target for the current fiscal will be much higher than the last year.

The Minister further said that banks have given loans to 3.26 crore beneficiaries totalling 1.35 lakh crore rupees under Prime Minister MUDRA Yojana in 2015-16, which is more than the target of 1.22 lakh



crore rupees fixed by the Prime Minister. The Finance Minister said, the government is trying to ease the business environment in the country.

He said though the low oil prices have helped India, there are challenges created by global situation particularly in terms of shrinkage of exports. He said global trade is shrinking, there is volatility and unpredictability and no body knows how long this will last.