Pradhan Mantri Mudra Loan Subsidy – Complete Details

Friends, if you are searching whether any subsidy is available under Pradhan Mantri Mudra Yojana or not, then the direct answer will be ‘No’. Perhaps you might have already taken complete information about Mudra Loan Subsidy.

There are 3 types of loan schemes in PMMY whose loan amount is different. But in India, many subsidy schemes have been given by the Central Government which are linked through another schemes.

Therefore, if you link this scheme with any other Govt. scheme, you will definitely get some subsidy. In this article, we are going to guide you that if you combine Pradhan Mantri Mudra Yojana with other schemes, then you will definitely get some subsidy.

Thousands of subsidy schemes have been launched by the central government in India. But in this context, you should know how to choose some scheme or the other, then you will definitely get the benefit of some subsidy schemes.

How to Get Mudra Loan Subsidy

Although there is no direct interest rate subsidy under the PMMY, you can avail this subsidy in other ways if your loan is linked to some government scheme or is linked to the Government Capital Subsidy.

If your loan is linked to some government schemes or government subsidies, then you will also get subsidy. To avail this subsidy, you will have to start a business in which the government gives subsidy.

What is Subsidy

First of all you should know what is subsidy? A subsidy is a discount from the government that may be available on your interest rate or on the loan you take.

Subsidy is also the money given by the government to a business. Under this discount, any business can produce its product at a lower rate and sell it at a good price.

Alternative of Mudra Loan Subsidy

If your business comes under Prime Minister Employment Generation Program, you will get credit linked subsidy. Under this scheme, the government gives the benefit of credit linked subsidy to the business which creates job opportunities which leads to social and economic growth of the country.

This scheme is run by Khadi and Village Industries Commission. Under this scheme, any person who is 18 or more years of age and has at least 7th pass education and invests Rs 10 lakh or more in manufacturing or Rs 5 lakh or more in service sector, then he can avail the benefit of this scheme.

Get the benefit of

In this scheme, subsidy is available according to different categories. If a general category person starts a business in an urban area, he gets a subsidy of 15% and if a general category person starts a business in a rural area, he gets a subsidy of up to 25%. Both these subsidies increase for reserved categories.

 If a person from (ST/SC/OBC) category starts a business in an urban area, he gets a subsidy of 25% and if a person from these three categories starts a business in a rural area, he gets a subsidy of up to 35%. Apart from this, both these subsidies are also available in minority, women, ex-serviceman, physically handicapped, hill and border areas.

Conclusion

So friends, there is no shortage of subsidies in our country, apart from this many subsidies are also given by the government, you just need to know about them. If you want to get more information about these subsidies, you can also consult a consultant. Information about subsidy taken at the right time will be beneficial for you.