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$adminprix = 'admin' $rn = object(App\Model\Entity\Article) { 'id' => (int) 38372, 'title' => 'Only 3% Mudra loans can generate monthly income of more than 10,000 -Prasanna Mohanty', 'subheading' => '', 'description' => '<div align="justify"> -India Today<br /> <br /> <em>The Narendra Modi government has claimed that its flagship Mudra loan scheme is generating employment. But, data shows a miniscule number of Mudra loans generate a return that satisfies even the minimum wage requirement.<br /> <br /> </em>* The Modi-led govt has been showcasing the Mudra loan scheme to claim that millions of jobs are being created<br /> * There is no official data available on the number of jobs created due to the Mudra loan scheme<br /> * An examination reveals that only 3% of Mudra loans can generate a return, or income, that satisfies the minimum wage requirement<br /> <br /> Confronted with widespread criticism of growing unemployment and jobless growth, the Narendra Modi-led central government has been showcasing the Mudra loan scheme to claim that millions of jobs are being created. No less than Prime Minister Narendra Modi himself declared in his address to the nation last Independence Day that Mudra loans had been given to 130 million people, of which 40 million were first timers. He had said that the "the initiative has helped multiply jobs".<br /> <br /> Closer examination of Mudra, however, presents a different picture.<br /> <br /> There is no official data available on the number of jobs created due to the Mudra loan scheme. However, an examination of the type and number of loans given out reveals that only three per cent of Mudra loans generate a return, or income, that satisfies the minimum wage requirement.<br /> <br /> The examination also reveals that credit flow to the MSMEs (medium, small and micro enterprises)-the primary objective of Mudra scheme- remains below par.<br /> <br /> Not just that, a significant chunk of Mudra funds (about 40 per cent) remains idle. Worse, economists and bankers, including former RBI Governor Raghuram Rajan, have warned that Mudra loans could be the source of the next non-performing assets (NPA) crisis.<br /> <br /> Please <a href="https://www.indiatoday.in/amp/india/story/only-3-mudra-loans-can-generate-monthly-income-of-more-than-10-000-1441470-2019-01-29?__twitter_impression=true&fbclid=IwAR0JKd_x5hCiNStv2hM8GqijADPzZ5KsTas-r7X6y_5FWyVbywyuwcvr1pw">click here</a> to read more. </div>', 'credit_writer' => 'India Today, 29 January, 2019, https://www.indiatoday.in/amp/india/story/only-3-mudra-loans-can-generate-monthly-income-of-more-than-10-000-1441470-2019-01-29?__twitter_impression=true&fbclid=IwAR', 'article_img' => '', 'article_img_thumb' => '', 'status' => (int) 1, 'show_on_home' => (int) 1, 'lang' => 'EN', 'category_id' => (int) 16, 'tag_keyword' => '', 'seo_url' => 'only-3-mudra-loans-can-generate-monthly-income-of-more-than-10000-prasanna-mohanty-4686503', 'meta_title' => null, 'meta_keywords' => null, 'meta_description' => null, 'noindex' => (int) 0, 'publish_date' => object(Cake\I18n\FrozenDate) {}, 'most_visit_section_id' => null, 'article_big_img' => null, 'liveid' => (int) 4686503, 'created' => object(Cake\I18n\FrozenTime) {}, 'modified' => object(Cake\I18n\FrozenTime) {}, 'edate' => '', 'category' => object(App\Model\Entity\Category) {}, '[new]' => false, '[accessible]' => [ '*' => true, 'id' => false ], '[dirty]' => [], '[original]' => [], '[virtual]' => [], '[hasErrors]' => false, '[errors]' => [], '[invalid]' => [], '[repository]' => 'Articles' } $imgtag = false $imgURL = 'India Today, 29 January, 2019, https://www.indiatoday.in/amp/india/story/only-3-mudra-loans-can-generate-monthly-income-of-more-than-10-000-1441470-2019-01-29?__twitter_impression=true&fbclid=IwAR' $titleText = 'Only 3% Mudra loans can generate monthly income of more than 10,000 -Prasanna Mohanty' $descText = ' -India Today The Narendra Modi government has claimed that its flagship Mudra loan scheme is generating employment. 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$adminprix = 'admin' $rn = object(App\Model\Entity\Article) { 'id' => (int) 38372, 'title' => 'Only 3% Mudra loans can generate monthly income of more than 10,000 -Prasanna Mohanty', 'subheading' => '', 'description' => '<div align="justify"> -India Today<br /> <br /> <em>The Narendra Modi government has claimed that its flagship Mudra loan scheme is generating employment. But, data shows a miniscule number of Mudra loans generate a return that satisfies even the minimum wage requirement.<br /> <br /> </em>* The Modi-led govt has been showcasing the Mudra loan scheme to claim that millions of jobs are being created<br /> * There is no official data available on the number of jobs created due to the Mudra loan scheme<br /> * An examination reveals that only 3% of Mudra loans can generate a return, or income, that satisfies the minimum wage requirement<br /> <br /> Confronted with widespread criticism of growing unemployment and jobless growth, the Narendra Modi-led central government has been showcasing the Mudra loan scheme to claim that millions of jobs are being created. No less than Prime Minister Narendra Modi himself declared in his address to the nation last Independence Day that Mudra loans had been given to 130 million people, of which 40 million were first timers. He had said that the "the initiative has helped multiply jobs".<br /> <br /> Closer examination of Mudra, however, presents a different picture.<br /> <br /> There is no official data available on the number of jobs created due to the Mudra loan scheme. However, an examination of the type and number of loans given out reveals that only three per cent of Mudra loans generate a return, or income, that satisfies the minimum wage requirement.<br /> <br /> The examination also reveals that credit flow to the MSMEs (medium, small and micro enterprises)-the primary objective of Mudra scheme- remains below par.<br /> <br /> Not just that, a significant chunk of Mudra funds (about 40 per cent) remains idle. Worse, economists and bankers, including former RBI Governor Raghuram Rajan, have warned that Mudra loans could be the source of the next non-performing assets (NPA) crisis.<br /> <br /> Please <a href="https://www.indiatoday.in/amp/india/story/only-3-mudra-loans-can-generate-monthly-income-of-more-than-10-000-1441470-2019-01-29?__twitter_impression=true&fbclid=IwAR0JKd_x5hCiNStv2hM8GqijADPzZ5KsTas-r7X6y_5FWyVbywyuwcvr1pw">click here</a> to read more. </div>', 'credit_writer' => 'India Today, 29 January, 2019, https://www.indiatoday.in/amp/india/story/only-3-mudra-loans-can-generate-monthly-income-of-more-than-10-000-1441470-2019-01-29?__twitter_impression=true&fbclid=IwAR', 'article_img' => '', 'article_img_thumb' => '', 'status' => (int) 1, 'show_on_home' => (int) 1, 'lang' => 'EN', 'category_id' => (int) 16, 'tag_keyword' => '', 'seo_url' => 'only-3-mudra-loans-can-generate-monthly-income-of-more-than-10000-prasanna-mohanty-4686503', 'meta_title' => null, 'meta_keywords' => null, 'meta_description' => null, 'noindex' => (int) 0, 'publish_date' => object(Cake\I18n\FrozenDate) {}, 'most_visit_section_id' => null, 'article_big_img' => null, 'liveid' => (int) 4686503, 'created' => object(Cake\I18n\FrozenTime) {}, 'modified' => object(Cake\I18n\FrozenTime) {}, 'edate' => '', 'category' => object(App\Model\Entity\Category) {}, '[new]' => false, '[accessible]' => [ '*' => true, 'id' => false ], '[dirty]' => [], '[original]' => [], '[virtual]' => [], '[hasErrors]' => false, '[errors]' => [], '[invalid]' => [], '[repository]' => 'Articles' } $imgtag = false $imgURL = 'India Today, 29 January, 2019, https://www.indiatoday.in/amp/india/story/only-3-mudra-loans-can-generate-monthly-income-of-more-than-10-000-1441470-2019-01-29?__twitter_impression=true&fbclid=IwAR' $titleText = null $descText = ' -India Today The Narendra Modi government has claimed that its flagship Mudra loan scheme is generating employment. But, data shows a miniscule number of Mudra loans generate a return that satisfies even the minimum wage requirement. * The Modi-led govt has been showcasing the Mudra loan scheme to claim that millions of jobs are being created * There is no official data available on the number of jobs created due to the Mudra...' $foundposition = false $startp = (int) 0 $endp = (int) 200preg_replace - [internal], line ?? include - APP/Template/SearchResult/index.ctp, line 35 Cake\View\View::_evaluate() - CORE/src/View/View.php, line 1413 Cake\View\View::_render() - CORE/src/View/View.php, line 1374 Cake\View\View::render() - CORE/src/View/View.php, line 880 Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 791 Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126 Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94 Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235 Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65 Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162 Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65 Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88 Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65 Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96 Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65 Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51