A Study on MSME Sector: A Special Reference to Pradhan Mantri Mudra Yojana (PMMY) Scheme

The Pradhan Mantri Mudra Yojana (PMMY), launched in 2015, aims to promote financial inclusion and strengthen micro and small enterprises (MSMEs) by improving their access to institutional credit. The study analyzed trends in loan sanctions and disbursements under the PMMY from 2015 to 2024, using secondary data sourced from Report of MSME. Statistical tools such as the mean, standard deviation, and annual growth rate (AGR) were applied to assess financial trends and variability. The analysis revealed a consistent increase in loan amounts, with total disbursements growing from ₹1.22 lakh crore in 2015–16 to ₹4.50 lakh crore in 2022–23, marking a compound annual growth rate (CAGR) of approximately 19.7 per cent. Meanwhile, the number of loans sanctioned rose from 3.24 crore to 6.23 crore during the same period. The study also highlighted the scheme differential impact on key segments, including women entrepreneurs (accounted for nearly 68% of beneficiaries), new enterprises, and minority communities. Despite its positive trajectory, regional disparities in loan uptake suggested areas for policy refinement.