Pradhan Mantri Mudra Yojana (PMMY): The aim of this plan is to provide an unsecured loan of up to ₹10 lakh to a small business. The programme aims to develop such businesses and create new jobs. Some of its key goals are to foster entrepreneurship, enhance financial access, and support inclusive growth. Borrowers may need the money for business expenses, for example, for the purchase of equipment, or to pay their day-to-day expenses. Among the main fringe benefits of this program are a streamlined loan application process, reduced interest rates, and assistance with skills development and marketing strategies. Cumulatively, such a program has been of immense value by classifying and enabling micro and small businesses to drive economic development and generate employment.