Prime Minister Narendra Modi on Wednesday said the PM Mudra Yojana has strengthened the spirit of enterprise across India by removing barriers and trusting the aspirations of the people.
On 11 years of the PM Mudra Yojana, Modi said the scheme has redefined access to credit by empowering millions with the confidence to dream and the means to fulfil it.
“By removing barriers and trusting the aspirations of our people, it has strengthened the spirit of enterprise across India,” the prime minister said on X.
PM Mudra Yojana reflects an economic ethos where opportunities are accessible, initiatives are encouraged and every dream is given the support to grow, Modi said.
“A glimpse of Mudra Yojana’s transformative potential and how it has positively impacted our Yuva Shakti and Nari Shakti,” Modi said and tagged a post by the citizen engagement platform of the government — ‘MyGovIndia’ on the PM Mudra Yojana.
“Real economic transformation doesn’t always begin in boardrooms. Sometimes, it starts with a small loan, a local idea, and the courage to begin. Mudra Yojana is quietly reshaping the foundation of India’s economy. By enabling collateral-free credit, it has reduced dependence on informal lending, expanded financial inclusion, and strengthened credit discipline at the grassroots,” the ‘MyGovIndia’ said in a post on X.
It also shared a thread to see how first-time entrepreneurs, especially women and underserved communities, are stepping forward.
“Micro businesses are scaling, local jobs are emerging, and informal enterprises are steadily becoming part of India’s formal economic fabric,” the government platform said.
For 11 years, the Pradhan Mantri Mudra Yojana has acted as an ‘Anjali Mudra’, a dedicated offering to the country’s entrepreneurial energy, the ‘MyGovIndia’ said.
“By bridging the gap between ambition and credit, it has transformed over 52 crore job seekers into business owners,” it said.
The Pradhan Mantri Mudra Yojana launched in 2015 aims at providing credit of up to Rs 10 lakh to small entrepreneurs and act as a regulator for micro-finance institutions. Mudra targets young educated or skilled workers and entrepreneurs including women entrepreneurs.