Challenges and Future of Pradhan Mantri Mudra Yojana (PMMY) in Promoting Women Entrepreneurship in India
DOI:
https://doi.org/10.63300/arjst10905202501Keywords:
PMMY, women entrepreneurship, financial inclusion, micro-finance, IndiaAbstract
This paper explores the Pradhan Mantri Mudra Yojana (PMMY) as a significant government initiative aimed at fostering entrepreneurship in India, particularly among women. PMMY, launched in 2015, provides micro-financing options that enable women to overcome financial constraints and pursue small business ventures. However, despite its benefits, the scheme faces notable challenges including accessibility issues, gender biases, and structural limitations that hinder its success in empowering women entrepreneurs. This paper delves into these challenges and offers recommendations for strengthening PMMY’s impact on women, discussing potential improvements and the future of women's entrepreneurship in India.
Downloads
References
Government of India, Ministry of Finance. (2015). Pradhan Mantri Mudra Yojana (PMMY) – Policy Guidelines. Government of India.
Mudra: Micro Units Development and Refinance Agency Ltd. (2016). Annual Report 2015-16.
World Bank Group. (2020). The Gender Gap in Financial Inclusion in India: A Quantitative Study.
Das, M., & Mohanty, S. (2020). Women Entrepreneurship and Microfinance in India: An Empirical Study of PMMY's Role. International Journal of Social Economics, 47(3), 325-342.
Jha, S. & Sinha, R. (2019). Financial Inclusion and Women Empowerment: The Case of Mudra Yojana. Asian Journal of Women’s Studies, 25(4), 476-492.
Reserve Bank of India (RBI). (2021). Financial Literacy and Inclusion in India: Role of Banking Sector and Government Initiatives. RBI Bulletin.
Kumar, S., & Rastogi, A. (2021). Challenges in Women Entrepreneurship in India: The Impact of Government Financial Schemes. Journal of Entrepreneurship and Innovation in Emerging Economies, 7(2), 198-217.
Niti Aayog. (2020). Women Entrepreneurship in India: A Study of Government Schemes. Government of India.
Singh, N. (2022). Barriers to Female Entrepreneurship in India: Analysis of PMMY and Its Socioeconomic Impact. South Asian Journal of Management, 29(1), 57-76.
The World Economic Forum (WEF). (2021). Global Gender Gap Report 2021. World Economic Forum.
Yadav, R., & Kumar, P. (2020). Role of PMMY in Rural Development and Women Empowerment: A Case Study of Selected Villages in Northern India. Indian Journal of Economics and Development, 16(3), 267-280.
International Finance Corporation (IFC). (2019). Fostering Women Entrepreneurship in Emerging Markets: India Report.
Sinha, T., (2018). Microfinance and Empowerment: Assessing the Potential of PMMY for Indian Women Entrepreneurs. Microfinance Journal, 5(4), 112-134.
National Sample Survey Office (NSSO). (2021). Periodic Labour Force Survey (PLFS): Women’s Workforce Participation in India. Ministry of Statistics and Programme Implementation, Government of India.
UN Women India. (2019). Gender Equality and Women’s Economic Empowerment in India: Challenges and Opportunities. UN Women
Downloads
Published
Issue
Section
License
Copyright (c) 2025 Dr M. Dhanalakshmi (Author)
This work is licensed under a Creative Commons Attribution 4.0 International License.
Article published in Academic Research Journal of Science and Technology (ARJST) is an open access under the Creative Commons Attribution 4.0 International License -BY, (http://creativecommons.org/licenses/by/4.0/), which permits use, distribution and reproduction in any medium, provided the original work is properly cited.
How to Cite
