• The Labour Bureau has completed its survey on employment generated by the MUDRA loan scheme.
• It giving the Centre a potential data tool to combat other reports showing a dismal scenario on jobs.
About the Pradhan Mantri Mudra Yojana
• The Pradhan Mantri Mudra Yojana was introduced in April 2015 as an effort to extend affordable credit to micro and small enterprises.
• Loans up to ₹10 lakh are extended to these non-corporate, non-farm enterprises by the Micro Units Development and Refinance Agency (MUDRA) through last-mile financial institutions.
• So far, 15.56 crore loans worth a total of ₹7.23 lakh crore have been disbursed.
• The Labour Bureau’s completed report on MUDRA loans has now been submitted to the Centre at a time when it is taking flak for not releasing the results of the National Sample Survey Organisation’s periodic labour force survey.
• According to a report in the Business Standard, a leaked copy of the NSSO’s findings showed that unemployment hit a 45-year high of 6.1% in 2017-18.
• Central government ministers and officials have already attempted to use the MUDRA scheme’s performance to combat criticism based on the leaked NSSO job survey report.
• Some economists, however, have advised caution in the interpretation of MUDRA data, especially as it relates to jobs.
Mains Paper 2: Governance | Government policies and interventions for development in various sectors and issues arising out of their design and implementation.
Prelims level: PMMY
Mains level: Problem of Unemployment