Mudra Yojana: Catalyzing India's Entrepreneurial Revolution

Prime Minister Narendra Modi hailed the Mudra Yojana as an 'eye-opener' while interacting with beneficiaries. The scheme has disbursed Rs 33 lakh crore without collateral, fostering grassroots entrepreneurship, especially among women. Celebrating its 10th anniversary, the PM emphasized its role in empowering India's youth and transforming lives.

Prime Minister Narendra Modi commended the Mudra Yojana for its transformative impact on India's entrepreneurial landscape in a recent gathering at his residence, highlighting it as a revealing initiative for any government. The Prime Minister warmly welcomed beneficiaries of the scheme, likening their presence to that of revered guests who bring purity to a home.

During the interaction, PM Modi underscored the unprecedented distribution of Rs 33 lakh crore to citizens without the need for guarantees, challenging perceptions that the government only benefits the wealthy. Through the Mudra Yojana, many citizens, notably women, have accessed much-needed financial support, enabling them to harness their entrepreneurial skills and contribute significantly to the economy.

Marking ten years since its inception, the program has sanctioned over 52 crore loans, amounting to Rs 32.61 lakh crore, and has been pivotal in promoting grassroots entrepreneurship by simplifying processes and eliminating the collateral barrier. PM Modi acknowledged the inspirational stories shared by beneficiaries and reiterated the scheme's role in empowering youth and fostering economic growth in India.

(With inputs from agencies.)