PM MUDRA YOJANA, FUND OF FUNDS, START UP INDIA, AND START UP CREDIT GUARANTEE SCHEMES UNLOCKING ENTREPRENEURIAL ASPIRATIONS OF YOUTH: UNION FINANCE MINISTER

The Government stands committed to strengthening and expanding the economy with high growth and to create conditions for people to realise their aspirations. This was stated by Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman while presenting the Interim Union Budget 2024, in Parliament, today.

AMRIT KAAL AS KARTAVYA KAAL

Calling it the beginning of Kartavya Kaal, Smt. Sitharaman quoted Prime Minister’s Independence Day address to the nation in the 75th year of India’s Republic, “We commit ourselves to national development, with new inspirations, new consciousness, new resolutions, as the country opens up immense possibilities and opportunities.”

UNLOCKING ENTREPRENEURIAL ASPIRATIONS OF YOUTH

The Union Finance Minister said that with sanctioning of 43 crore loans aggregating to Rs. 22.5 lakh crore under PM Mudra Yojana, entrepreneurial aspirations of our youth has been unlocked. Besides that, Fund of Funds, Start Up India, and Start Up Credit Guarantee schemes are assisting our youth and they are also becoming ‘rozgardata’.

Entrepreneurial empowerment: budget supports youth by expanding loan programmes and startup credit guarantees to spur employment. Budget commits to accelerating economic growth by promoting entrepreneurship and livelihoods. It emphasises measures to unlock youth entrepreneurial aspirations through PM Mudra Yojana's extensive small loan disbursals and complementary supports - a Fund of Funds, Start Up India initiatives, and a Start Up Credit Guarantee scheme - designed to broaden access to finance, support enterprise formation, and convert entrepreneurship into employment.