THE INCLINATION OF THE YOUTH TOWARDS ENTREPRENEURSHIP RATHER THAN EMPLOYMENT: A STUDY IN THE CONTEXT OF VARIOUS LOAN SCHEMES OF THE GOVERNMENT OF INDIA

Abstract In recent years, there has been a noticeable shift among Indian youth from seeking traditional employment to aspiring for entrepreneurial ventures. This research explores the growing inclination of youth towards entrepreneurship in the context of various loan and credit schemes launched by the Government of India, such as the Pradhan Mantri MUDRA Yojana (PMMY), Startup India, Stand-Up India, and the Prime Minister’s Employment Generation Programme (PMEGP). The study is based entirely on secondary data collected from official government reports, scheme dashboards, academic studies, and policy reviews. Using descriptive and comparative analysis, the research identifies key trends in the uptake of government loan schemes by young entrepreneurs across different regions, sectors, and demographics. The findings reveal that while government initiatives have significantly expanded access to finance and encouraged self-employment, challenges such as lack of awareness, bureaucratic hurdles, and inadequate support systems continue to limit their full impact. The study underscores the importance of policy reforms aimed at simplifying processes, improving outreach, and strengthening post-loan support mechanisms. It concludes that government-backed financial schemes have played a crucial role in promoting youth entrepreneurship, yet a more holistic and inclusive approach is needed to sustain this momentum and foster long-term economic growth. Keywords: Traditional Employment, Entrepreneurship, Loan and credit schemes, Pradhan Mantri MUDRA Yojana (PMMY), Startup India, Stand-Up India, and the Prime Minister’s Employment Generation Programme (PMEGP)