Abstract Pradhan Mantri Mudra Yojana (PMMY) is considered a key contributor to achieving the goals of Viksit Bharat 2047. The scheme plays an important role in India’s journey from a developing to a developed nation. Growth of the Micro, Small and Medium Enterprises (MSME) sector, women empowerment, rural–urban entrepreneurship, financial inclusion, and employment generation are major contributing factors. Through PMMY, the Fund the Unfunded principle is implemented by integrating credit-excluded entrepreneurs into the formal banking system thereby strengthening the economy. This research paper presents an in depth analysis of PMMY’s broad economic effects, socio-economic transformation and its contribution to India’s development process leading up to 2047.
Sanjivani Gajanan Pattebahadur (Sun,) studied this question.