MUDRA Loan Scheme

MUDRA Loan Scheme

The government launches various schemes benefitting the poor and underprivileged class. One such scheme is the MUDRA Loan Scheme. This is a loan scheme for small and marginal fishermen. This scheme is centered in the small and poor fishermen who are unable to take out enough livelihoods from their occupation; at the same time attempting to opt for a loan becomes quite tough for growing their businesses.

Through this scheme, the government will provide them a loan for the purchase of modern boats so that they can grow their business by undertaking bigger voyages in the sea.

The objective of the Scheme:

The scheme was announced by honourable Prime Minster Narendra Modi. He announced this loan scheme for fishermen in a public meeting organized at Diu in the Union Territory of Daman and Diu. The scheme is for those poor fishermen who are not able to buy a modern type of boats due to lack of finance. The scheme will provide benefits to those who own small boats using which they cannot go to the deep part of the sea and cannot catch enough fish to get a proper living.

Implementation of the Scheme:

The government has almost completed the draft of the scheme which will be implemented pan-India.

Under the Scheme:

  • A loan of up to Rs. 1 crore will be given to the group of poor fisherman in a village under MUDRA Yojana of the central government.
  • 50 percent of the total funds of the scheme will be contributed by the central government.
  • Big fishing boats will be given to a group of fisherman so that they can go beyond 12 nautical miles, where they can catch a large number of fish.

Benefits of the MUDRA Yojana Scheme:

  • As mentioned earlier this scheme shall benefit the poor and needy fishermen who are unable to grow their businesses due to lack of finance.
  • Small fishermen, instead of fishing alone, can be part of such groups and share profits.
  • This shall benefit the fishermen community, which has suffered a lot.

 

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