Modi govt Mudra Scheme: Get Rs 4 lakh loan to start this business

If you are also looking to start a business with investments of up to Rs 2 lakh, then papad making can be a good business option. The National Small Industries Corporation (NSIC), a Government of India initiative has prepared a project report for this. Through which a person can get a loan of Rs 4 lakh at cheap interest rate under the 'Mudra Scheme'. According to a report, a total investment of Rs 6 lakh is enough to establish a small firm with a production capacity of about 30,000 kg. To produce this much quanity, a minium area of 250 square metre will be required. 

The total expenditure includes fixed capital and working capital expenditure.

- Fixed Capital: It includes all the expenses like dough machine, packaging machine, other equipments etc. 

- Working Capital: Includes 3 months staff salary, raw material and utility product cost for 3 months. Apart from this, it also includes expenses like rent, electricity, water and telephone bill.

Necessary requirements?

A person needs to have a place to operate the business, the production place should be atleast 250 square meters. In case a person does not possess any area, the place can also be taken on a rent rate of Rs 3,000 er month. For man power, there should be mandatory 3 unskilled labour, 2 skilled labour and one supervisor in the unit. Total expenditure on man power salary shall be Rs 25,000, which has been added to the working capital already. 

Machinery requirement:

1. Shifter

2. Dough mixer

3. Platform balance

4. Electrically operated oven

5. Marble table top, rolling board
 
6. Aluminum utensils and racks

How to apply for 'Mudra Scheme' ?

Under the 'Mudra Scheme' the loan will be provided for Rs 4 lakh only, the remaining Rs 2 lakh needs to be invested by the person himself. The person can apply with any bank under the Prime Minister's Mudra Scheme. A from filled with all the details needs to be submitted for an application.
 
The person would require to fill details like, name, address, business address, education, current income and loan amount etc. No processing fees or guarantee fee will be there and the loan amount can be paid back in a period of 5 years.