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The Finance Minister, in the Union Budget 2024-25, announced the increased loan limit to тВ╣20 lakhs from the existing тВ╣10 lakhs of which of the following schemes?
Stand-Up India Scheme
Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE)
Prime MinisterтАЩs Employment Generation Programme (PMEGP)
Pradhan Mantri MUDRA Yojana (PMMY)
Pradhan Mantri MUDRA Yojana (PMMY)
Focus on the 'Tarun' category of the MUDRA scheme; if you recall that the top tier limit doubled in the 2024 Budget, identify PMMY immediately.
Union Budget 2024-25 announcement regarding loan limit enhancement under the MUDRA scheme.
LimitnewтАЛ=LimitoldтАЛ├Ч2=10┬аlakhs├Ч2=20┬аlakhs
Focus on the 'Tarun' category of the MUDRA scheme; if you recall that the top tier limit doubled in the 2024 Budget, identify PMMY immediately.
Confusing the MUDRA loan limit increase with the CGTMSE guarantee limit or collateral-free loan limits for other MSME schemes.
Analyze Scheme Details
The Pradhan Mantri MUDRA Yojana (PMMY) provides loans up to three categories: Shishu, Kishore, and Tarun.
LimitTarunтАЛ=10┬аLakhs
Evaluate Budget 2024-25 Announcement
In the Union Budget 2024-25, the government specifically announced doubling the limit for Tarun category loans.
10┬аLakhsтЖТ20┬аLakhs
Verify Against Options
The change pertains specifically to the PMMY framework, matching option D.
Target=Option┬аD
D is correct because the Union Budget 2024-25 explicitly increased the loan limit under the Tarun category of the Pradhan Mantri MUDRA Yojana (PMMY) from тВ╣10 lakhs to тВ╣20 lakhs.
Always track updates to major flagship schemes (like MUDRA, PMEGP, or PM SVANidhi) in the latest Union Budget, as these are high-probability static GK questions in competitive exams.
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