Very small amounts had been given out under the scheme
andhrapradesh | Written by : Suryaa Desk
Pradhana Manthri Mudra Yojana started off on a grand scale, by given loans to unemployed or prospective self-employed youth through banks. However, the scheme aims and objectives have been watered down, mainly because of the way it has been conducted.
Prof. Nageswar Said That As per the scheme, loans will be given to youth for setting up small units. But it was observed later, that very small amounts had been given out under the scheme, which is is not useful for any employment purpose. Also, banks have not followed the norms while given the loans, it is learnt.