Shortage Of Funds Research Articles

Fiscal Deficit and Taxes in India: Some Observations

The national and international evidences suggest that the government projects, and production activities have not been producing considerable returns and profits even to take care of opportunity costs. The attempt in this study is not to focus analytically into public expenditure but delve into some of the important elements and considerations which shaped policy concerns for taxation and their subsequent implications on fiscal deficits and borrowings. Considering the nature of exposition organised in this study, an exploratory analysis is adopted from the viewpoints of expressing critical opinions which are based on existing information and overall fiscal scenario by taking into account of inflation, financial markets, public debt management and economic growth. The behaviour of centre’s direct tax has direct impact on trend of the combined direct tax, but evidently indirect tax of the centre has not produced any significant impact on combined indirect tax due to the fact states’ indirect taxes have been reasonably and strongly stable even when economic growth rate slipped during COVID-19. Gross Fiscal Deficit and revenue deficit are moving in tandem, and this importantly means unless a significant decrease in revenue expenditures is brought down in the form of decline in the current expenditure, the fiscal prudency in bringing the fiscal deficit below the three percent of Gross Domestic Products (GDP) is extremely difficult exercise. The market borrowing as a critical and pre-dominant source of deficit financing has created dynamic changes in both money markets and capital markets. Along with financial deepening, integration of government securities and treasury bills play an important role in deciding particularly short-term financial rates by giving greater substitutability and greater return with almost no risk. The scenario narrated on taxes and borrowing could well produce some mixed implications for macro management and financial sectors. Government should look forward for correcting their fiscal course at least in terms of bringing fiscal deficit closer to the sustainable level while making taxes to strengthen market mechanism.

The macroeconomic implications of deficit financing under present bias

We examine how present bias affects deficit, inflation, and welfare in an economy where the deficit is funded by a seigniorage tax. In a hyperbolic discounting economy, reduced money holdings due to the desire for immediate consumption cause a decline in the sustainable deficit limit. To meet the targeted deficit, the government must raise seigniorage tax collection, especially with present bias. This results in increased inflation rates and higher welfare costs associated with the deficit for hyperbolic discounting individuals.

Online Business: Challenges for College Students with and without Disabilities

Major objectives of study were to find out perception of college students about online business and to identify the challenges in online business. This study intended to explore the challenges of college students with or without disabilities which they experience in online business. This study was qualitative and exploratory. The sample included college students with or without disabilities (N=15), , selected through purposive sampling technique. Self-developed semi-structured interview was used as an instrument. Validity of instrument was assured by expert opinion (N=03). Reliability of instrument was confirmed through an extensive literature review. Data was analyzed through thematic analysis. Three major themes were drawn from the thematic analysis i.e perception of students, challenges in online business, and strategies for students regarding online business. Findings revealed maximum participants reported online business is not easy for them because of financial shortages. Study recommended the support of government to promote online business for college students.

Financial market frictions and portfolio investment performance in Nigeria

In reallocating resources from the fund surplus unit to the fund deficit unit, financial markets face some interference which is referred to as financial market frictions. The study examines the micro and macro aspects of the effects of financial markets frictions on portfolio investments decisions and performance of financial market participants (individual firms and the entire economy). The study employs secondary data collected from firms annual reports and accounts and the World Bank data bank for national economic data. The firm level data covers a period of five years while the macro level data covers a period of seven (11) years. The study used EView 8.0 for generating the estimation results for the study. The study uses panel least square and two stage least square estimation techniques for the analysis of the data and to test the hypotheses. The study find, amongst other findings, that financial markets frictions and changes in financial market frictions across specific financial markets significantly affect investor’s portfolio decision and performance at the firm level and national economies. The study concludes that financial market frictions affect both portfolio investment decisions and portfolio investment performance in all financial markets and that exchange rate cheanges and changes in other financial markets frictions result in significant changes in investor’s decisions and performance across the globe. The study also concludes that the portfolio constituent of an investor changes with regards to changes in financial frictions. That portfolio investment decisions in all financial markets are significantly influenced by financial markets frictions at varying degrees and magnitudes and that these frictions changes frequently in financial markets. The study recommends, amongst other recommendations, that investors should give considerable attention to minimizing varied financial markets frictions that affect their investment decisions and the performance of their investment portfolio.

Increasing Production, Marketing, and Diversification of Mocaf-Based Product

Abstract. The problem for small businesses of mocaf-based products is drying. Thus, a dryer is needed which will be attempted through an apprenticeship program. Another problem is the need to expand the type of business. Through the diversification of cassava products, it produces mocaf noodles which can be sold at higher prices, thereby increasing income and improving people's welfare. The aim of PkM is to increase and maintain production continuity, as well as increase profits through the creation of derivative products. The target audience is people who are already engaged in the mocaf flour business and small culinary entrepreneurs. The training method is in the form of tutorials and technical training by integrating Islamic values into it. Based on the results of the apprenticeship, small ovens can be made by themselves. However, the production of large ovens cannot be completed considering there is still a shortage of funds. The manufacture and marketing of noodles have been occupied by several small culinary entrepreneurs and sold to meatball traders, as well as sold to consumers who have been customers before. The conclusion is that in order to increase mocaf flour production, it is necessary to make a good drying oven. The PkM team was able to build only 75% of the drying ovens, so more assistance and funding was needed. From the perspective of increasing mocaf-derived products, mocaf noodles are a profitable option, and giving rise to many new entrepreneurs.

Participation of parents in the remote teaching process – revealed problems and valuable innovation in the opinion of school principals in the Wielkopolska region (Poland)

The findings presented in this paper are part of the comprehensive research carried out within the “Diversification of Social Attitudes in the Sphere of Educational Services during a Pandemic” project. This study examines the challenges that emerged during remote learning, focusing on parents’ involvement in their children’s learning process, as perceived by school principals. The conclusions are based on questionnaire interviews with principals of 36 randomly selected schools throughout the Wielkopolska region (Poland). The study spanned the second semester of the 2019/2020 school year and the first semester of 2020/2021. Several issues were identified in the interviews, including communication difficulties with students, lack of skills of teachers and students to work remotely, insufficient IT infrastructure at school and home, financial deficits impeding the purchase of new equipment, and a decline in students’ mental health. These problems were primarily related to the family (home) situation of students and the participation of parents in solving these problems. No significant spatial differences were identified with respect to the opinions of school principals from different poviats of the Wielkopolska region. However, differences in opinions were observed depending on the level of the school. A distinctive issue raised mainly by primary school principals was the participation of parents in lessons and their tendency to complete tasks or even write tests for children, as well as the frequent baseless excuses for absences and unfinished tasks. In contrast, principals from both general and vocational secondary schools generally agreed that parental assistance was marginal.

Social and Psychological Challenges Facing Orphaned Children Living in the Orphanage Centres in Tanzania

The study aimed to assess social and psychological challenges facing orphaned children living in the orphanages in Tanzania. The motivational theory of Abraham Maslow guided this study with the use of the qualitative approach. In-depth interviews were employed to collect data from the research participants. The study was carried out in four orphanage centres within three wards in Dar es Salaam Region. A purposive sampling technique was employed to get 29 participants for this study. Specifically, the study intends to answer the following unexplored questions: i) What are the social challenges facing orphaned children living in the orphanages? ii) What are the psychological challenges facing orphaned children living in the orphanages? The findings revealed that in the orphanages orphaned children experienced various social challenges including shortage of basic needs, shortage of educational materials, and lack of sport gears as well as poor health services. They also faced psychological challenges like physical punishment, bullying behaviours from fellows, segregation, isolation and poor attachment from their caregivers. Such challenges are indicators for defining ineffectiveness of caregivers in providing psychosocial services to orphaned children. The study concluded that in the present context, orphanages are not a good residence for orphans’ psychosocial wellbeing due to shortage of funds and presence of untrained personnel. The study recommended that, the government should formulate interventional policies and enact laws which would look after the welfare of orphaned children rather than depending on the institutional Care.

Research on Countermeasures of Guangxi Small and Medium-Sized Enterprises' Value Chain Climbing Under the Background of Digital Economy

Guangxi is an important channel to connect China and ASEAN in "the belt and road initiative" and an important window to promote open communication and cooperation. The small and medium-sized enterprises in Guangxi urgently need to use "digital economy" as a new "engine" to gain new momentum and promote its accelerated development. This paper focuses on the small and medium-sized enterprises in Guangxi. Through the analysis of the current situation and difficulties of the small and medium-sized enterprises moving up the value chain in Guangxi during the post-epidemic period, it is found that the scale of small and medium-sized enterprises in Guangxi is increasing, which leads to the pressure of market competition, coupled with the relative shortage of funds, poor innovation ability, insufficient market, lack of human resources and other issues. It further puts forward the corresponding countermeasures and measures to improve the market mechanism and system, establish a platform cooperation mechanism, provide financial policy support for small and medium-sized enterprises, and transport talents.

Političko liderstvo i očuvanje nacionalnih prioriteta (na primjeru Generala Primo de Rivera)

Spain did not take part in the First World War (1914-1918), but its political consequences were reflected in the subsequent crisis that gripped the entire Spanish society. The post-war economic crisis led to an increase in social tension (emergence of inflationary processes, reduction in the supply of basic necessities, low wage growth) and to the strengthening of nationalism. The economic crisis further exacerbates social conflicts and disrupts the social structure of society. The problem in Morocco is also contributing to the country's financial deficit and exacerbating existing problems. Added to this was the political instability and ministerial crises of the period 1917-1923. The constitutional monarchy made efforts to maintain the status quo, but internal and external conflicts strongly affected the stability of the institution. General elections were held four times and eleven different governments were formed. It is the crisis of the parliamentary system that creates opportunities for changes in the Spanish political system. All this leads the country to a political impasse, which the military in the person of General Primo de Rivera takes advantage of. The intervention of the army in the political life of Spain is an attempt to resolve the conflicts among the rulers, but the crisis deepens not only in Parliament, but also in society. Constant contradictions give rise to hatred of politics. The army takes the responsibility (thus the king hides from the responsibility) of rearranging the political system or building a new one and meets the approval of the majority of the society, which is ready for political reorganization. The conditions in the country are ready for a coup, the main actors are needed who will go down in history and who will take advantage of the situation to take power. The man who takes a tougher stance, as well as the challenge of running the country after a series of failed governments, is General Primo de Rivera. He established a dictatorship and ruled Spain from 1923-1930. The coup was carried out on the 13th of September 1923. Then General Primo de Rivera issued a Manifesto, which was an address to the army and society and marked the main responsibilities and commitments that were undertaken for implementation. The civilian government of the dictatorship began an active economic and social policy. It was largely successful and coincided with the worldwide economic boom of the mid-1920s. Reforms were also undertaken in the social, educational and military systems. Changes are taking place in both political and ecclesiastical life. Attempts are being made to resolve the regional problem and the existing situation in Morocco. There are also innovations in relations with the republics of Latin America. In view of later historical developments, it is clear that this regime could not have lasted long, but in a sense it became the basis of the subsequent “new state” regime after 1939. The time frame of the two dictatorships is long enough and the parallels and the events are different, but some ideas, institutions and even politicians in power in 1939 inherited the dictatorial years of 1923-1930. This coincides with the transformations that occurred in many European countries after the end of the First World War. The administration of General Primo de Rivera left an imprint on the historical development of Spain and served as an example for many European countries, including the Balkans.

State intervention in land pricing and endogenous risk aversion

<p><big>This study explores the cause and effect of endogenous risk aversion in land pricing, where state intervention through taxation remains a general practice. Using a consumption-based asset pricing model incorporating taxation, it is shown that high taxation, due to the indexation effect, supporting land prices and reducing individuals' risk expectations, could lead to an endogenous decrease in risk aversion, which could result in market dysfunction because risk aversion plays a key role in the market mechanism. China, with its wholly state-owned land and the general use of land sales to cover financial deficits, is a typical case for empirical tests. The tests confirm that there, the rise in land prices was driven by the increase in reserve prices set by local governments, a strong means of taxation, and not by the market, indicating the endogenous decrease in risk aversion.</big></p>

Ukrajinska enciklopedistika u vrijeme rata (na temelju Enciklopedije suvremene Ukrajine)

The aim of this article is to present the Encyclopedia of Modern Ukraine (Ukrainian: Entsyklopediia Suchasnoi Ukrainy) as one of the priority Ukrainian academic scholarly publications in the context of the ongoing Russian war against Ukraine, and to outline the editorial team’s priorities in responding to the new challenges of the time. The research methodology is based on the principles of historicism and consistency. General scholarly methods were used, including analysis, synthesis, description, and generalisation. The authors report on the peculiarities of preparing the paper volumes of the Encyclopedia of Modern Ukraine, emphasise the importance and necessity of producing a complete set of EMU volumes for the cultural development of the state and building the state’s information ecosystem. At the same time, they draw attention to the fact that paper encyclopedia publishing needs more funding than it currently has (in recent years, the shortage of funding has been compensated by reducing the quality of printing and the circulation of edition volumes). The article also covers the encyclopedia’s digital counterpart (EMU website as an online encyclopedia). In particular, it was found that the indicators of the online encyclopedia visits and pageviews are increasing every year. Moreover, in a turbulent 2022 of full-scale war, the website traffic was the highest ever. The language specificity of the online encyclopedia’s visitors is in the focus of the authors as well. The authors state that the war negatively impacts various spheres of life in Ukraine including academic encyclopedistics and suggest that the editorial and publishing process relating to the Encyclopedia of Modern Ukraine should be revised. It is concluded that it is economically expedient to focus on the EMU’s online version during the war. Along with this, there is a possibility of a complete blackout of Ukraine, which could be caused by Russian airstrikes on the country’s critical infrastructure. In such a situation, the editorial team’s planned direction for the next year(s) of activity regarding online encyclopedia development unfortunately seems problematic as well.

Implementation of Healthcare Financing Based on Diagnosis-related Group in Three WHO Regions; Western Pacific, South East Asia and Eastern Mediterranean: A Systematic Review

Payment methods based on a controlled or adjusted prospective payment system rather than ‘Fee for Services’ or direct payment are considered beneficial to access the healthcare delivery services. The purpose of this review was to identify technical challenges faced by three WHO regions, namely, Western Pacific, South East Asia Eastern and the Mediterranean while establishing or adopting a diagnosis-related group (DRG)/case-mix grouper and report the extent of implementing this system for reimbursement and healthcare financing in three WHO regions, namely, Western Pacific, South East Asia Eastern and the Mediterranean. The study followed PRISMA guidelines, and 33 articles published from 1st January 2009 to 31st December 2019 were selected for critical appraisal after systematic filtration. The objectives of the implementation of the DRG system in most developed and developing countries in these regions were to bring transparency in the payment system and reduce treatment costs by avoiding unnecessary healthcare services. The countries in the study regions were at different levels of economic and social development status, therefore the implementation and adaptation status of DRG/case-mix system/grouper varied in these countries The findings revealed that most of the countries faced challenges related to inequalities and inefficiencies in the healthcare system, shortage of funding, poor documentation related to diagnosis and procedures, incomplete medical record files and lack of primary data required for the case-mix system during the DRG/case-mix adaptation phase. The results also pointed to the importance of initial pilot testing of the DRG/case-mix system/grouper and careful manipulation and adaptation to the local context, especially when the DRG system/grouper imported from other countries.

Health Propaganda and Health Consciousness in Jalpaiguri (1880 - 1945) : A Historical Overview

The present study focuses the practices of British Govt. on Health & hygiene in Jalpaiguri district which constitute the health propaganda during colonial phase. British Raj extracted huge revenue from tea gardens of Jalpaiguri but spend a fragment of it in health services. The Director of Public health too regularly informed about the shortage of fund to regarding various public health schemes. To spread the govt. policies for the health services and maintain the hygiene in different community various steps were taken but did not reach to the labor line areas of various plantation industry and other rural parts of Jalpaiguri district. The role of the govt. journals was also not satisfactory in this regard because of lack of interest of colonial government. Sources gathered that many preventive measures were taken like malaria Vaccination, distribution of western medicines, mosquito net etc. as safety measures in other parts of Bengal but Jalpaiguri was kept untouched. Facilities were provided for Europeans but not as a whole for the commoners, Govt facilities were in paper but not in practices in real sense. The minimum facilities regarding health and hygiene were ignored by colonial ruler and mortality rate increased in Jalpaiguri. Though climate of Jalpaiguri was also very favorable in this regard and gradually Jalpaiguri became the store house of all diseases. Few charitable hospitals were built for minimum health services after world war I to meet the challenges but were very minimum which forced the people to depend upon indigenous medicines.

Analysis and Improvement Strategies of Rural Elderly Care Models in Northern Shaanxi Province

Compared to coastal areas in China, the development of rural areas in the central and western regions faces more challenges and difficulties, with more severe labor loss, more fragile ecological environment, and a shortage of government financial funds. At the same time, the issue of aging is becoming increasingly serious, and rural elderly care has become an important issue that restricts rural development. Northern Shaanxi is located on the Loess Plateau. Through literature review and field research, this article analyzes the main elderly care models in Shenmu County and explores the social security system. Taking people as the core, this study proposes optimization measures for elderly care security. In addition to the support of the government and families, more attention should be paid to forming a community security system and implementing unified management based on the community as a unit, which helps to alleviate the contradiction between population and development.

Potential demand for National Health Insurance in Zimbabwe: Evidence from selected urban informal sector clusters in Harare.

Zimbabwe's tax-based healthcare financing model has been characterised by perennial financing deficits and widespread application of user fees and has thus been socially exclusive. The country's urban informal sector population is not spared from these challenges. The study explored the potential demand for National Health Insurance (NHI) among respondents from selected urban informal sector clusters of Harare. The following clusters were targeted: Glenview furniture complex, Harare home industries, Mupedzanhamo flea market, Mbare new wholesale market and Mbare retail market. A cross-sectional survey was administered to 388 respondents from the selected clusters, and data on the determinants of Willingness to Join (WTJ) and Willingness to Pay (WTP) was gathered. Respondents were recruited via a multi-stage sampling procedure. In the first stage, the five informal sector clusters were purposely selected. The second stage involved a proportional allocation of respondents by cluster size. Finally, based on the stalls allocated by municipal authorities in each area, respondents were selected using systematic sampling. The sampling interval (k) was determined by dividing the total number of allocated stalls in a cluster (N) by the sample size proportionate to that cluster (n). For each cluster, the first stall (respondent) was randomly chosen, and thereafter, a respondent from every 10th stall was selected and interviewed at their workplace. Contingent valuation was adopted to elicit WTP. Logit models and interval regression were applied for the econometric analyses. A total of 388 respondents participated in the survey. The dominant informal sector activity among the surveyed clusters was the sale of clothing and shoes (39.2%), followed by the sale of agricultural products (27.1%). Concerning employment status, the majority were own-account workers (73.1%). Most of the respondents (84.8%) completed secondary school. On monthly income from informal sector activities, the highest frequency (37.1%) was observed in the Zw$(1000 to <3000) or US$(28.57 to <85.71) category. The mean age of respondents was 36 years. Out of the 388 respondents, 325 (83.8%) were willing to join the proposed NHI scheme. WTJ was influenced by the following factors: health insurance awareness, health insurance perception, membership to a resource-pooling scheme, solidarity with the sick, and household recently experiencing difficulties paying for healthcare. On average, respondents were willing to pay Zw$72.13 (approximately US$2.06) per person per month. The key determinants of WTP were household size, respondent's education level, income, and health insurance perception. Since the majority of respondents from the sampled clusters were willing to join and pay for the contributory NHI scheme, it follows that there is potential to implement the scheme for the urban informal sector workers from the clusters studied. However, some issues require careful consideration. The informal sector workers need to be educated on the concept of risk pooling and the benefits of being members of an NHI scheme. Household size and income are factors that require special attention when deciding on the premiums for the scheme. Moreover, given that price instability hurts financial products such as health insurance, there is a need for ensuring macroeconomic stability.

Systematic Literature Review: the Sustainable Development of Small and Medium-Sized Enterprises Under the Trend of Globalization

Purpose: The development of small and medium-sized enterprises (SMEs) often faces such problems as shortage of funds and backward technology. The systematic literature review on sustainable development (SD) of SMEs can help accelerate the pace of SMEs' information management construction and promote enterprises' development and growth. A systematic literature review (SLR) was conducted on empirical data on the sustainable development of small and medium-sized enterprises in China and abroad from 2000 to 2022. Theoretical framework: Systematic review/meta-analysis refers to a research method that comprehensively collects all relevant studies, conducts rigorous evaluation and analysis one by one, and then uses quantitative or qualitative synthesis methods to process the data to reach comprehensive conclusions (Pansare et al., 2023). Design/methodology/approach: This literature review covers 50 articles from peer-reviewed academic journals related to their theoretical area, research design, sampling/data collection methods, data analysis, and thematic areas. The Preferred Reporting Items for Systematic Review and Meta-Analysis (PRISMA) statements were used to analyze this study’s systematic literature review. Findings: The result illustrated that numerous research had been done during the past twenty years and new findings are involved with this topic area. SMEs attach more and more importance to the goal of SD and adopt systematic, structured, and formalized ways to promote the SD of enterprises. Research, Practical &amp; Social implications: Several pieces of literature can cover the aspects of ecological entrepreneurship, innovation, business, and environment, which are positively correlated with SD. Originality/value: This paper summarizes existing research results, which can provide research references for the SD of SMEs.

Городские финансы и муниципальные власти в английских городах эпохи Тюдоров (на примере Вустера)

One of the important problems for the Englishcities of the Tudor era was the managementt of finances. The main income was from real estate, which was supplemented by duties and fines. Fees ofcity officials, utilities, and hospitality accounted for three-quarters of all Worcester’s urban spending. The main problem was inflation and relatively stable income from urban property, which forced municipal authorities to look for new ways to solve financial problems. However, these new measures could not solve the problem of financial property deficit by the end of the reign of Elizabeth I.

Impact of Public Debts Accumulation on Economic Growth in Nigeria: Issues and Implications for Economic Recovery

This paper interrogates the rationale behind federal government continued reliance on Keynesian’s fiscal policy prescriptions of deficit financing as a way of spurring sustained economic growth and development in Nigeria, especially when such ideology seems to contrast sharply with the realities of dwindling economic growth indices. In particular, this study investigates the extent both external debt and domestic debt impact on economic growth in Nigeria. Multiple regression method was adopted while Autoregressive distributed lag (ARDL) model was the main technique used in the analysis. The results of the ARDL model demonstrate that external debt (LEXD) and domestic debt (LDD) have a negative impact on LGDP. However, while external debt reveals a significant effect, domestic debt (LDD) has an insignificant impact on LGDP. Thus, the study recommends that government should discontinue the use of external debt to finance budget deficit in the economy, but look inward through aggressive internal revenue generation as well as embrace economic diversification policies, coupled with a drastic cut down on cost of governance in Nigeria.

Training Primary School Teachers to Meet the 2018 National Curriculum

This article focuses on researching methods to train primary school teachers to improve the quality of education at the primary level. The article analyzes the current situation of teacher training and proposes some suitable methods to train primary school teachers. Training primary school teachers is essential for them to update their knowledge and skills in teaching, as well as to improve their classroom management and build good relationships with students and parents. However, the current situation of teacher training still has many limitations, such as a shortage of resources and funding to organize in-depth training courses. The article concludes that training primary school teachers is very important and plays a decisive role in the quality of education at the primary level. There is a need for careful investment and development of suitable methods to help teachers improve their skills and enhance the quality of teaching.

Pradhan Mantri Mudra Yojana

The setting up of Pradhan Mantri Mudra Yojana and MUDRA attempted to fill or reduce the financial crisis in the micro enterprises to stimulate economic development. MUDRA has been aimed at administering a common platform to both banks and tiny enterprises customers and plays a significant role by bringing them together to this platform. It has been set up as a refinancing institution. Its main goal is to provide mudra loans up to Rs 10,00,000 to the micro enterprises through last mile financiers, so that they can start or expand their businesses. Its primary goal is to refinance various last-mile financial institutions that support the growth of small businesses in the non-corporate sector by lending money to them. These last mile financial institutions include NBFCs, Regional Rural Banks, Commercial Banks, Small Finance Banks, and MFIs. These institutions provide funds to the small business sector which is involved in manufacturing, trading, and Agri-allied activities. The borrower can approach to any of financial institution to get the benefit of mudra loans and to serve the purpose of their existence.&#x0D; Mudra scheme helps millions of small borrowers who were facing the acute financial shortage due to numerous reasons and were striving hard to get the financial assistance for starting or expanding their business activities. In this study, an effort has been made to use statistical methods like mean, coefficient of variation, and trend analysis to examine the category-wise performance of various mudra loans during a six-year period, from 2016–17 to 2021–22. The analysis is based on secondary information that was obtained from the MUDRA official website. The interpretation of the figures for the study period indicates that among the three main categories of Mudra Loans, Shishu Loan Scheme has captured the largest share in terms of number of accounts as well as in terms of amount sanctioned followed by Kishore and Tarun Loans. Since its origin, over a period of seven years of operations i.e., from 2015-16 to 2021-22, PMMY has benefitted in aggregate approximately 34.92 crore loan account holders of micro enterprise segment by administering an aggregate amount of 18.90 crore.