Mudra loan plan, created by the Modi administration, is a great alternative for those who want to establish a company with little outlay of capital and the expectation of a high rate of return.
A profitable business idea that involves less initial capital and maximum financing from the government is a tomato sauce company, which you may establish with the help of the Pradhan Mantri Mudra Yojana (PMMY) Scheme.
A profitable business idea that involves less initial capital and maximum financing from the government is a tomato sauce company, which you may establish with the help of the Pradhan Mantri Mudra Yojana (PMMY) Scheme.
The PM Mudra Scheme project description states that the initial investment to launch a tomato sauce manufacturing firm is just Rs 7.82 lakh. The Mudra loan programme ensures that you need just put up Rs 1.95 lakh of your own money to get started. Tomatoes, raw-material, ingredients, wages of employees, packaging, telephone, rent, etc. would cost Rs 5.82 lakh, while machinery and equipment will cost Rs 2 lakh. This Rs 1.5 lakh loan is for a fixed duration. The amount of the loan for working capital would be Rs 4.36 lakh.
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Reports estimate that with an initial investment of Rs 7.82 lakh, an annual revenue of up to Rs 28.80 lakh is possible. To calculate annual net profit of Rs 4.58 lakh, take annual sales of Rs 28.80 lakh and subtract annual expenses of Rs 24.22 lakh. This also translates to a monthly salary of roughly Rs 40,000.
Loans are made available in the following three categories under the Pradhan Mantri Mudra Yojana (PMMY) Scheme, which is run by banks and Micro Finance Institutions (MFIs): Tarun (loans up to Rs 10 lakh), Shishu (loans up to Rs 50,000), and Kishore (loans from Rs. 50002 to Rs. 5 lakh).
