Bumper business Idea: Invest 1.98 lakh on this biz, earn turnover of Rs 29 lakh --Check loan, yearly income, net profit and other details

New Delhi: If you are looking to start your own business on low investment and expect higher return, the Modi government’s Mudra loan scheme could be your ‘go to’ option. Among the several small businesses that you can start and get your funding under Pradhan Mantri Mudra Yojana (PMMY) Scheme, Tomato Sauce business is one such lucrative business idea that requires minimum self funding, and maximum loan by the government.

As per information given in the project profile under PM Mudra Scheme, you can start the business of tomato sauce making at a total cost of Rs 7.82 lakh. However, you will only have to invest Rs 1.95 lakh from your pocket and the rest of the money will be provided under the Mudra loan scheme.  While Rs 2 lakh will be spent on the type of machinery and equipment, Rs 5.82 lakh will be spent on tomatoes, raw-material, ingredients, salary of workers, packing, telephone, rent etc. The term loan will be Rs 1.50 lakh. Working capital loan will be Rs 4.36 lakh.  

As per reports the annual turnover can be upto the tune of Rs 28.80 lakh on the initial investment of Rs 7.82 lakh. From the Rs 28.80 lakh turnover, you will have to deduct annual expenditure of Rs 24.22 lakh, after which you will be left with total net profit of Rs 4.58 lakh yearly. This also means that you will earn about Rs 40,000 every month.

Under the Pradhan Mantri Mudra Yojana (PMMY), Scheme by banks and Micro Finance Institutions (MFIs) Loans are extended in three categories: Shishu (loans upto Rs. 50,000); Kishore (loans from Rs. 50002 to Rs. 5 lakh); and Tarun (loans from Rs.5 lakh to Rs. 10 lakh).