New Delhi, Ap 8: Prime Minister Narendra Modi on Wednesday highlighted the impact of the Pradhan Mantri Mudra Yojana (PMMY) on its 11th anniversary, praising the scheme for fostering self-employment and enabling the nation’s youth to become self-reliant.
In a post on X, PM Modi said the scheme has shown that with the right opportunities, individuals can not only become self-reliant but also contribute to national progress. He added, “Self-knowledge is the beginning, forbearance is the constancy of dharma. He who is not distressed by adversities is truly called a wise man.”
Union Home Minister Amit Shah noted that over 58 crore collateral-free loans worth more than Rs 40 lakh crore have been disbursed under PMMY over 11 years, benefiting 12 crore youth and empowering small traders, startups, and women entrepreneurs. He highlighted that 2 out of every 3 Mudra loans go to women, marking a historic milestone in women’s empowerment.
Launched on April 8, 2015, PMMY aims to strengthen grassroots entrepreneurship by providing easy collateral-free loans of up to Rs 20 lakh for non-corporate, non-farm income-generating activities. Loans are categorized into:
· Shishu – up to Rs 50,000
· Kishor – Rs 50,001 to Rs 5 lakh
· Tarun – Rs 5 lakh to Rs 10 lakh
· Tarun Plus – Rs 10 lakh to Rs 20 lakh
The scheme operates on three pillars: “Banking the Unbanked,” “Securing the Unsecured,” and “Funding the Unfunded”, covering manufacturing, trading, services, and allied agricultural activities like dairy, poultry, and beekeeping.
