Impact of the Pradhan Mantri Mudra Yojana (PMMY) on Micro and Small Enterprises in Maharashtra

Abstract Startup entrepreneurship plays a vital role by introducing new innovations, creating job opportunities, and fostering competitive dynamics in the business environment and enterprises. In today's world, the significance of startups in driving economic prosperity is growing. One of the many benefits of startups is their ability to generate new jobs. India has the third largest number of start-ups worldwide. Start-up Scheme Exemption will be given in terms of experience in government contracts as well as business limitations. Profits earned by enterprises will be exempted from tax in the first three years before the start of business. Investments in recognized industry funds will also be applicable. To promote the industrial and economic development of the state of Maharashtra and to encourage entrepreneurs based on innovative concepts to solve the problem of unemployment in the country, Maharashtra Government has approved the Maharashtra State Innovation Policy 2018 as per the decision dated 05/02/2018. Maharashtra Startup Week will be celebrated every year in the state to provide a platform through the government to exhibit and to deal with the important social and economic challenges of the government system in the state with the help of startup apps. Startup Yojana is a successful scheme which provides various opportunities to startups and fixed by the Government of India.