The Modi administration’s Mudra loan scheme is a fantastic option for people who want to start a business with minimum capital investment and a high rate of return.
Using the Pradhan Mantri Mudra Yojana (PMMY) Scheme, you can start a tomato sauce business, which is a lucrative venture that requires little start-up money and receives the most government funding.
According to the PM Mudra Scheme project description, just Rs 7.82 lakh is needed as a start-up capital for a tomato sauce manufacturing company. You only need to put up Rs. 1.95 lakh of your own money to get started thanks to the Mudra lending programme. The price for tomatoes, raw materials, ingredients, labour costs, packaging, phone bills, rent, etc. would be Rs. 5.82 lakh, but the price for machinery and equipment would be Rs. 2 lakh. This loan of Rs 1.5 lakh has a set term. The working capital loan would be for a total of Rs. 4.36 lakh.
According to reports, an annual revenue of up to Rs 28.80 lakh is feasible with an initial investment of Rs 7.82 lakh. Take annual sales of Rs 28.80 lakh and deduct annual expenses of Rs 24.22 lakh to arrive at an annual net profit of Rs 4.58 lakh. This also equals a monthly wage of about 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).
