Prime Minister Narendra Modi marked the 10th anniversary of the Pradhan Mantri Mudra Yojana (PMMY) by hosting a group of beneficiaries at his residence in New Delhi. The scheme, launched on April 8, 2015, has played a transformative role in empowering millions of entrepreneurs across the country by providing collateral-free loans. The Prime Minister took this occasion to interact with the beneficiaries, acknowledging their stories and highlighting the tremendous success of the program.

One of the standout moments of the event was a light-hearted exchange between PM Modi and a Kerala-based entrepreneur, Gopi Kishan. Gopi shared how the Mudra Yojana had significantly boosted his business, allowing him to quit his job in the UAE and start a rooftop solar panel installation business back home. During their conversation, PM Modi playfully asked Gopi about his monthly earnings, to which Gopi revealed he now earns around Rs 2.5 lakh a month. In response, PM Modi joked, saying, "Daro mat, income tax waala nahi aaayega" (Do not worry, the Income Tax department will not come after you). This light moment added a personal touch to the celebrations.

The event also highlighted the broader impact of the Mudra Yojana, which has provided collateral-free loans to over 52.37 crore beneficiaries, totaling Rs 33.65 lakh crore. These loans have been crucial in supporting small businesses, including entrepreneurs like Gopi Kishan, and providing financial backing to emerging startups and farmers.

Mudra Yojana: A Transformational Tool for Entrepreneurs The Pradhan Mantri Mudra Yojana was designed to offer easy access to credit for micro, small, and medium enterprises (MSMEs). The scheme facilitates three types of loans based on the scale of the business:

1. Shishu (up to Rs 50,000) for early-stage entrepreneurs,

2. Kishore (Rs 50,000 to Rs 5 lakh) for expanding businesses,

3. Tarun (Rs 5 lakh to Rs 20 lakh) for established businesses with greater funding requirements.

The scheme was launched with the vision of nurturing a more inclusive economy by providing financial services to underserved groups. Over the past decade, it has helped countless entrepreneurs set up their businesses, generate jobs, and contribute to India’s economic growth.

Success Stories: Entrepreneurs Take Centre Stage Gopi Kishan's success story is just one example of how Mudra Yojana has changed lives. The program has empowered individuals to pursue their entrepreneurial dreams and has been especially beneficial for people who lacked access to traditional banking services. As Gopi Kishan shared, the Mudra Yojana played a pivotal role in transitioning him from an expatriate worker to a successful business owner in India.

PM Modi acknowledged the hard work and resilience of the beneficiaries, emphasizing the importance of the entrepreneurial spirit and the role of government schemes in helping people achieve their dreams. His interactions underscored the deep impact Mudra Yojana has had on thousands of families and businesses across the nation.

PM Modi’s Continued Support for Small Businesses During the event, Prime Minister Modi expressed his continued commitment to small businesses and entrepreneurs. He reiterated that the government would continue to provide support through schemes like Mudra Yojana, Startup India, and other initiatives aimed at boosting financial inclusion and entrepreneurial development.

Key Milestones of Pradhan Mantri Mudra Yojana:

• Launched in 2015 with the goal of providing easy access to credit for small businesses.

• Over 52.37 crore loans sanctioned amounting to Rs 33.65 lakh crore.

• Loans have empowered new entrepreneurs, especially in the manufacturing, services, and agriculture sectors.

• The scheme has been especially successful in providing financial support to underserved communities, including women, rural entrepreneurs, and people from marginalized groups.

Looking Ahead: Future of Mudra Yojana

As the scheme marks its 10th anniversary, the future of Mudra Yojana looks promising, with more emphasis on digitizing loan processes, expanding the scope of eligible activities, and improving the access to credit for even more aspiring entrepreneurs. The government's focus on empowering small businesses will continue to drive economic growth, create jobs, and pave the way for an inclusive and prosperous India.

In conclusion, the 10-year journey of Mudra Yojana has been transformative for the Indian economy, particularly for micro-entrepreneurs, and the success stories of individuals like Gopi Kishan reflect the immense potential of the scheme to bring about lasting change. The government's commitment to supporting small businesses and entrepreneurs remains a cornerstone of its economic vision for India.

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