Budget 2024-25: Limits of Mudra Loans for MSMEs to be Enhanced to Rs. 20 Lakhs

In the Union Budget 2024-25, the Indian government has announced an increase in the limits for MUDRA loans available to Micro, Small, and Medium Enterprises (MSMEs). The maximum loan amount under the MUDRA scheme will be raised to ₹20 lakhs, up from the previous limit. This enhancement aims to provide greater financial support to MSMEs, promoting growth and innovation in this sector. The move is expected to bolster the MSME sector by facilitating easier access to capital for small businesses, thereby driving economic development.