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New Mudra loan data demolishes the accusations on Joblessness

New Mudra loan data demolishes the accusations on Joblessness

By : Kaushik Subramanian

  |  4 Sep 2019 8:49 AM GMT


There have been consistent accusations
on Prime Minister Narendra Modi government on the issue of job creation and
joblessness for the past five years and none are able to provide solid data for
their accusations on the BJP government. As the discussion about economic
crisis peaked in the last few months, the discussion and allegations on
Joblessness also increased. Even former Prime Minister Manmohan Singh talked in
a video about economy. Many Congress supporters criticized the government for
job crisis in Social Media but the new data that was released on Mudra Loans
completely demolished the false propaganda about joblessness in India.


Quoting the Draft
Report on Pradhan Mantri Mudra Yojana Survey, the Indian Express newspaper said
that out of 94,375 beneficiaries on whom the survey was conducted, 19,396
(20.6%) of them used the loan to start new businesses and the remaining people
used the loans to expand their business. The report was dated March 27, 2019,
and still has not been released in public,


This draft report also found that 1.12
crore additional jobs were created during the time period of April
2015-December 2017, the first 33 months from the inception of the scheme. Of
this, 51.06 lakh self-employed jobs were created and 60.94 lakh hired workers
jobs were created.


More than 1 Crore jobs created just
through Mudra Loans in three years is huge and the number could much bigger
when the data is surveyed for 5 years for all the sectors completely. This
disproves the joblessness allegation that is being leveled on the current
government and Finance Minister Nirmala Sitharman. Mudra Loan is one of the pet
projects of Prime Minister Narendra Modi and the project had created a positive
impact among the lives of people by helping them to get loans to start business
and thus creating more jobs.


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