Image Credit: https://www.pmindia.gov.in/
PM Modi Celebrates 10 Years of Mudra Yojana, Highlights Empowerment of Entrepreneurs
Prime Minister Narendra Modi marked the 10th anniversary of the Pradhan Mantri Mudra Yojana (PMMY) by engaging with beneficiaries who have transformed their entrepreneurial aspirations into reality through the scheme. Since its inception, PMMY has sanctioned over ₹33 lakh crore in collateral-free loans, fostering a culture of entrepreneurship across India.
Empowering Entrepreneurs Across India
Launched in 2015, PMMY aims to provide financial support to micro and small businesses, enabling individuals to become job creators. The scheme has seen remarkable participation, with 68% of beneficiaries being women and 50% belonging to Scheduled Castes, Scheduled Tribes, and Other Backward Classes. These statistics underscore the program’s role in promoting inclusive economic growth.
Success Stories: Transforming Lives
During the interaction, beneficiaries shared inspiring stories of their entrepreneurial journeys:
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Lavkush Mehra from Bhopal: Starting his business in 2021 with a ₹5 lakh loan, Lavkush now manages a turnover exceeding ₹50 lakh. He recounted his transition from working for others to becoming a successful business owner, attributing his success to the support received through PMMY.
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Poonam Kumari: Coming from a humble farming background, Poonam and her husband utilized an ₹8 lakh loan to launch a seed business, generating a monthly income of ₹60,000. She expressed her gratitude, stating, “Today I am self-reliant — and it’s because of your scheme, sir.”
A Decade of Transformative Growth
Reflecting on the scheme’s impact, PM Modi stated that PMMY has “turned several dreams into reality,” empowering individuals who were previously overlooked. He emphasized that the initiative illustrates that for the people of India, nothing is impossible. The Prime Minister also highlighted the government’s commitment to strengthening the credit ecosystem, ensuring that every aspiring entrepreneur has access to growth opportunities.
Looking Ahead: Sustaining Momentum
As PMMY enters its second decade, the focus remains on sustaining momentum by providing financial support and fostering an environment conducive to entrepreneurial growth. The government’s continued emphasis on financial inclusion aims to build a robust ecosystem where every aspiring entrepreneur has access to credit, boosting confidence and fostering economic development.
