In the 2018-19 election, Maharashtra became the leading state in terms of disbursement of loans under the Pradhan Mantri MUDRA Yojana (PMMY). The economic survey tabled in Maharashtra assembly claims that loans to the tune of Rs 25,742 crore were distributed as Mudra loans to more than 43 lakh beneficiaries in one year's time when the state was gearing up for elections.
Maharashtra assembly elections were conducted in October 2019 and BJP-Shiv Sena alliance was contesting to retain the state. But after the election results were declared BJP and Shiv Sena parted ways even after getting full majority. Now the incumbent government is raising questions over the motive behind this massive distribution of loans.
"Where is the data of these beneficiaries? Who were benefited and have they used the money for proper use? This data is not available with employment and self employment exchange of the state. How do we know if people who actually needed money were benefited or it was distributed as bribe to voters as state was going for elections?" asked Nawab Malik , Minister for Skill Development.
Interestingly the distribution of Mudra loans is monitored by state-level bankers' committee (SLBC). MD and CEO of Bank of Maharashtra is the convener of the committee and meeting of the SLBC are attended by representatives of the state government including the chief minister from time to time and central government officials. In the earlier meetings in 2019 the Additional Chief Secretary, Planning of Maharashtra had informed that they were closely monitoring the progress under Mudra loans in the state. He had also urged bankers to provide borrower-wise, granular data as and when needed by the state government.
However BJP is saying that allegation such as Malik's are illogical. "Mudra scheme is directly under Union Finance Ministry and entire data is transparently maintained with them. If any one has any doubts they can approach union finance ministry instead of illogical allegations," said Ram Kadam, BJP MLA and party spokesperson.
As per the economic survey of the state, out of 43.86 lakh Mudra beneficiaries in the state 37.51 lakh people received loans under Shishu (up to Rs 50,000), 5.10 lakh under Kishore (Rs 50,000 to Rs 5 lakh) and 1.25 lakh under Tarun (Rs 5 lakh to Rs 10 lakh) categories. Mudra yojana is a Government of India scheme that enables a small borrower to borrow from banks, MFIs, NBFCs for loans up to Rs 10 lakh for non-farm income generating activities. Generally, loans up to Rs 10 lakh issued by banks under Micro Small Enterprises are given without collaterals.