Performance Analysis of Pmmy in South India
Journal Title: IOSR journal of Business and Management - Year 2018, Vol 20, Issue 1
Abstract
The paper elaborates the PMMY performance in South Indian States. The performance analysis study is done using secondary data. India has the largest middle class population in the world with most of them engaged in agriculture and small-scale business. For the financial needs, these individuals mostly depend on usurers, and it is estimated that more than 80% of the agriculture and small-scale business population depends on these usurers. The lending-to-repayment ratio is very good that these usurers are thriving well in their lending business, but they follow a stringent way in recollecting the debts. This vicious way of debt recollection has also resulted in more number of suicides among agriculture and small-scale business sector. To curb these types of suicides and to support the underprivileged people of India, our government has come up with many microfinance schemes. PMMY is one among those schemes for the development and upliftment of underprivileged. As per NSSO survey of 2013, there are close to 5.77 Cr small business units, mostly sole proprietorships, which undertake trading, manufacturing, retail and other small activities whereas with organized sector or large companies employ just 1.25 Crore. Clearly, the potential to harness and nurture this micro business is vast. After identifying the importance of social sector, self-employment and small scale business units; Government of India launched the MUDRA scheme under PMMY to provide financial assistance to MSME’s, who provide employment to a large number of people among the Youths. This paper is an attempt to bring out the performance analysis of PMMY in South Indian States.
Authors and Affiliations
Aravindaraj K, Jai Ganesh Bala
Keywords
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