Micro, Small and Medium Enterprises (MSMEs) play a crucial role in India's economic development by contributing to employment generation, industrial output, exports, and entrepreneurship. Access to adequate finance remains one of the major challenges faced by MSMEs, particularly micro-enterprises and first-time entrepreneurs. To address this issue, the Government of India launched the Pradhan Mantri Mudra Yojana (PMMY) in 2015 with the objective of providing collateral-free loans to non-corporate, non-farm small business sectors. 

The study focuses on key performance indicators such as sales growth, profitability, employment generation, business expansion, asset creation, productivity, and financial stability.