New Delhi, April 8: The Prime Minister Mudra Yojana, launched to boost employment opportunities through the establishment of micro-enterprises in both rural and urban areas, has completed 11 successful years. On this occasion, Prime Minister Narendra Modi emphasized that the scheme’s success illustrates how individuals can become self-reliant and contribute to national progress when given the right opportunities.
In a post on the social media platform ‘X’, Prime Minister Modi stated, “Over the past 11 years, the PM Mudra Yojana has instilled confidence in small entrepreneurs, women, and skilled workers by providing collateral-free loans. Today, this scheme has become synonymous with small businesses, new opportunities, and a stronger India. Launched exactly 11 years ago, the PM Mudra Yojana has significantly aided youth in self-employment. Its success shows that with the right opportunities, individuals can not only become self-reliant but also contribute to the nation’s development.”
He also shared a Sanskrit verse, writing, “Atmajnanam samaramhastikshah dharmanityata. Yamartha naapakarsanti sa vai pandit uchyate.” This verse conveys that a person who is well aware of their capabilities, eager to engage in welfare activities, patiently endures adverse circumstances, and consistently adheres to moral principles, is truly considered wise.
Additionally, Union Home Minister Amit Shah posted on ‘X’, stating, “Through the Mudra scheme, the Modi government has empowered small traders and startups by providing them with collateral-free loans, giving new strength to self-employment and small industries. In these 11 years, over 58 crore loans amounting to more than 40 lakh crores have been distributed under this welfare scheme, benefiting 12 crore youth and energizing the journey towards a self-reliant India. The fact that two out of every three Mudra loans have gone to women is a historic achievement for women’s empowerment.”
It is noteworthy that Prime Minister Modi launched the Mudra Yojana (PMMY) on April 8, 2015. The scheme aims to promote financial inclusion by providing loans of up to 10 lakh rupees without collateral for non-corporate and non-agricultural income-generating activities. Finance Minister Nirmala Sitharaman announced an increase in the loan limit to 20 lakh rupees in the Union Budget 2024-25 on July 23, 2024, which came into effect on October 24, 2024. These loans are provided through banks, non-banking financial companies (NBFCs), microfinance institutions (MFIs), and other financial entities.
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