Prime Minister Narendra Modi will interact with beneficiaries of the Pradhan Mantri Mudra Yojana (PMMY) at 9 AM today, as the government celebrates a decade of the flagship financial inclusion scheme aimed at empowering small entrepreneurs and micro-enterprises.
Launched in 2015, the Mudra Yojana has sanctioned over 50 crore loan accounts, amounting to a total disbursal of ₹33 lakh crore in the last 10 years, according to M Nagaraju, Secretary of the Department of Financial Services.
“This business scheme was launched by the Prime Minister for those seeking collateral-free loans. Of the total beneficiaries, 68% are women, and 50% belong to Scheduled Castes, Scheduled Tribes, and Other Backward Classes,” Nagaraju told ANI.
In an official statement, the Ministry of Finance described the scheme as a transformative initiative that enabled grassroots entrepreneurship by removing the burden of collateral and simplifying access to institutional credit. It said the MUDRA scheme laid the foundation for a new era of inclusive economic growth, especially among non-corporate, non-farm micro and small businesses.
From home-based tailoring and broom-making units to tea stalls, salons, mechanic workshops, and mobile repair shops, crores of small entrepreneurs have benefitted from the Mudra loans. For example, Kamlesh, a tailor in Delhi, expanded her home business and hired three other women. Another beneficiary, Bindu, scaled up her broom-making business tenfold.
“These are not isolated cases,” the Ministry noted, “but part of a larger shift powered by a system that believed in the potential of the people.”
At its heart, the Mudra Yojana is a story of trust—trust in aspirations, in the entrepreneurial spirit of citizens, and in the belief that even the smallest dream deserves a platform to grow.
