Economy, Finance and Innovation · indicator 305
MUDRA credit to micro-enterprises
Modi aheadThe scheme was created in April 2015, so there is no pre-2014 value to compare against and no comparator country series. Reported as a scheme output. The verdict here compares observed Indian figures over time — a weaker basis than the estimated indicators.
2014
0.000
baseline
2026
41.71
latest observed
Change
new
2014 vs latest observed
What this measures
MUDRA credit to micro-enterprises, in rupees lakh crore, cumulative. A rising number is an improvement. Reported by Ministry of Finance — Pradhan Mantri MUDRA Yojana.
It stood at 0.000 in 2014, and under Modi’s current India reached 41.71 by 2026 — a change. That is a deterioration against India’s pre-2014 figure.
No comparison country reports an equivalent series, so there is no Rahul's India to compare against. This is a before-and-after reading, not a treatment effect.
Decade totals
rupees lakh crore, cumulative · Ministry of Finance — Pradhan Mantri MUDRA Yojana
Why no counterfactual
The scheme was created in April 2015, so there is no pre-2014 value to compare against and no comparator country series. Reported as a scheme output.
Observation quality
- 2014
- 0.000
- 2024
- 32.61
- 2026
- 41.71
Administrative or programme reporting, not a survey measure · scheme not yet created
Administrative or programme reporting, not a survey measure · since inception, 2025
Administrative or programme reporting, not a survey measure · June 2026
Cumulative sanctioned lending to micro-enterprises since April 2015: ₹41.71 lakh crore across 59.14 crore loan accounts. This is a count of what the scheme disbursed, not a measure of whether credit access improved — small-enterprise lending existed before 2015 under other labels, and no baseline on this definition exists.
The counterfactual is 'India without the 2014 structural break', estimated from comparator countries. It is not a forecast of any individual's policies.