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PBME Volume III ISBN: 978-81-951151-1-2
Author(s): VIJAY PAL SINGH 
Abstract
The importance of financial inclusion (FI) in the social and economic growth of the nation cannot be overlook. It is a step towards provide access to affordable and useful financial services to the deprive section and less income group of economy. Indian Government has started some important steps to provide finance to micro enterprises through a new FI initiative like Mudra Yojana. It was launched on April 8, 2015 and mainly concerned with the non – farming micro enterprises, with credit needs are less then Rs. 10 lakhs. Purpose of the research article is to study the conception of Pradhan Mantri MUDRA Yojana and analyse its current progress & performance in the state of Himachal Pradesh.
The present study is based on secondary data. Secondary data have been accumulated from published previous research articles, annually reports of SLBC, and annual economic survey of Himachal Pradesh Government and from official website of MUDRA. It has covered the period during April 2015 to March 2019. For statistical description, average, percentage, comparative tables have been used. The present study has provided the new insights, that how financial inclusion initiatives through MUDRA Yojana are beneficial to the financial & economic growth of rural people of Himachal Pradesh. The research study has also contributed to the balanced growth of the state economy through improvement in financial literacy, income & employment generation activities, health, road connectivity and education system. The research study has certain limitations. First one is, the research study has restricted to Himachal Pradesh only due to resources and time constraint, the second one is, research study has limited to the financial inclusion initiatives through MUDRA Yojana for rural development and the last one is, only four years data has been taken for research study.
Keywords: Financial Inclusion, Pradhan Mantri Mudra Yojana, Refinance, Micro Units Development, and Refinance Agency, MUDRA
JEL Classification: O16, G21
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