The Government has increased the loan limit under the Prime Minister Mudra loan scheme from 10 lakhs rupees to 20 lakhs rupees. This decision was announced by Finance Minister Nirmala Sitharaman as part of the Union Budget for 2024-2025 in July. The Department of Financial Services (DFS) in a social media post said that the new Tarun Plus category has been created under the Scheme. This category will offer loans ranging from 10 lakh rupees to 20 lakh rupees for entrepreneurs who have repaid their previous Tarun loans. The Department further emphasized that this initiative reflects the government’s ongoing commitment to fostering a robust entrepreneurial ecosystem.

It added that loans up to 20 lakhs rupees will now be covered under the Credit Guarantee Fund for Micro Units (CGFMU), further facilitating access to funding for small businesses. Tarun Plus offers loans ranging from 10 to 20 lakhs for entrepreneurs.

The Government has increased the loan limit under the Prime Minister Mudra loan scheme from 10 lakhs rupees to 20 lakhs rupees. This decision was announced by Finance Minister Nirmala Sitharaman as part of the Union Budget for 2024-2025 in July. The Department of Financial Services (DFS) in a social media post said that the new Tarun Plus category has been created under the Scheme. This category will offer loans ranging from 10 lakh rupees to 20 lakh rupees for entrepreneurs who have repaid their previous Tarun loans. The Department further emphasized that this initiative reflects the government’s ongoing commitment to fostering a robust entrepreneurial ecosystem.

It added that loans up to 20 lakhs rupees will now be covered under the Credit Guarantee Fund for Micro Units (CGFMU), further facilitating access to funding for small businesses.