The central government has implemented several schemes for youth. They are encouraged to start their own businesses. The central government has launched the PM Mudra Scheme for starting businesses. Under the PM Mudra Scheme, loans up to ₹20 lakh are provided to start businesses to provide them with employment opportunities.

The central government's PM Mudra Scheme is a popular scheme. Previously, loans up to ₹10 lakh were available under this scheme. This limit has now been increased to ₹10 lakh. Now, loans up to ₹20 lakh are available.

Under the PM Mudra Scheme, funds are disbursed in four stages: Shishu Loan, Kishor Loan, Tarun Loan, and Tarun Plus Loan. Shishu Loan offers loans up to ₹50,000. Kishor Loan offers loans ranging from ₹50,000 to ₹5 lakh. Tarun Loan offers loans ranging from ₹5 lakh to ₹10 lakh. The new Tarun Plus category offers loans ranging from ₹10 lakh to ₹20 lakh.

This loan will be provided to young people to start a business without any guarantee. There will be no processing fee for the loan under this scheme.

The PM Mudra Yojana was launched in 2015. Loans are provided to start any non-corporate and non-agricultural business.

Anyone over the age of 18 can apply for the PM Mudra Yojana. To apply for this scheme, you must provide your Aadhaar card, PAN card, residence certificate, passport-sized photo, KYC, and income details. You can apply online by visiting the official website.

PC: Saamtv