On the 10th anniversary of the Pradhan Mantri Mudra Yojana (PMMY), Prime Minister Narendra Modi hosted beneficiaries at his residence and hailed the scheme as a transformative initiative that has empowered grassroots entrepreneurs across the nation.
Addressing the gathering on Tuesday, PM Modi emphasized the far-reaching impact of the scheme, calling it an “eye-opener for any government.”
“Rs 33 lakh crore has been given to the people of the country without any guarantee. Even if you add up all the loans to the rich, they wouldn’t total this amount,” the Prime Minister said. “This money has gone to the common man — to the youth with entrepreneurial dreams, and to women who have emerged as leading borrowers and fastest loan repayers.”
Highlighting that the Mudra Yojana is not about seeking praise but about enabling self-reliance, Modi said, “This scheme is not for Modi’s praises. It’s to give courage to the youth to stand on their own feet.”
He noted that many beneficiaries have not only become self-sufficient but are also generating employment for others, with some creating jobs for 1-2 people and others for as many as 40-50.
Women, in particular, have been central to the scheme’s success. “Women have applied for the most loans, received the most loans, and are repaying them the fastest. This shows their commitment and strength,” he added.
During the interaction, several beneficiaries shared their personal journeys. One entrepreneur from Kerala, who had previously worked in the UAE, shared how the scheme helped him become a successful business owner after returning to India. PM Modi, engaging in a light-hearted moment, asked if his mother was initially upset about his return — to which the man replied that “everything turned out well.”
Taking to social media platform X, the Prime Minister said, “The Mudra Yojana has given countless people the opportunity to showcase their entrepreneurial skills. Interacted with some of the beneficiaries of the scheme. Their journey is inspiring.”
Launched in April 2015, the Pradhan Mantri Mudra Yojana aims to provide funding to micro-enterprises and small businesses without the burden of collateral. Over the last decade, the scheme has sanctioned more than 52 crore loans, amounting to Rs 32.61 lakh crore — driving a nationwide wave of self-employment and economic empowerment.
