NEW DELHI, April 8: Prime Minister Narendra Modi on Tueasday congratulated beneficiaries of the Pradhan Mantri Mudra Yojana (PMMY) during an interaction at his residence, marking the tenth anniversary of the flagship financial inclusion scheme launched in April 2015.
Addressing the gathering, the Prime Minister highlighted the transformative impact of the Mudra Yojana, stating that it has turned dreams into reality for millions across the country. He emphasized that the initiative has empowered those who were previously overlooked, asserting that “for the people of India, nothing is impossible.”
PM Modi reiterated that the scheme was introduced to provide financial support to countless individuals, enabling them to demonstrate their entrepreneurial abilities. He said that PMMY aims to empower the youth, encouraging them to become self-reliant and confident, with the potential to become job creators rather than merely job seekers.
One of the key highlights shared by the Prime Minister was the inclusive nature of the scheme. He noted that over 70 percent of Mudra loan beneficiaries are women, and nearly half belong to Scheduled Castes (SC), Scheduled Tribes (ST), and Other Backward Classes (OBC). Describing each Mudra loan as a symbol of “dignity, self-respect, and opportunity,” he underlined the government’s commitment to expanding financial access at the grassroots level.
PM Modi also stressed that the government will continue to strengthen the credit ecosystem, ensuring that every aspiring entrepreneur has the opportunity to grow and succeed. He said the scheme has played a vital role not only in financial inclusion but also in driving social and economic empowerment.
During the interaction, beneficiaries shared their experiences and success stories with the Prime Minister. A woman from Rae Bareli said that the scheme had completely transformed her life, while another entrepreneur from Bhopal shared how the Mudra Yojana gave him the confidence to leave his job and start a business of his own.
The Pradhan Mantri Mudra Yojana provides collateral-free loans of up to ₹20 lakh to micro and small enterprises. In the past ten years, the scheme has sanctioned more than 52 crore loans worth over ₹32.6 lakh crore.
Among Indian states, Tamil Nadu has reported the highest disbursal under the scheme, followed by Uttar Pradesh and Karnataka. Jammu and Kashmir lead among the Union Territories in terms of Mudra loan distribution.
The scheme has also gained international recognition, with the International Monetary Fund (IMF) acknowledging its significant role in promoting inclusive entrepreneurship in India.
