NEW DELHI : Prime Minister Narendra Modi on Wednesday marked the 11th anniversary of the Pradhan Mantri Mudra Yojana (PMMY), describing the initiative as a cornerstone for fostering self-employment and youth empowerment across India.
In a statement shared on the social media platform X, the Prime Minister noted that since its inception exactly 11 years ago, the scheme has proven instrumental in providing the necessary resources for individuals to achieve self-reliance while contributing to the nation’s broader development.
Launched in 2015, the Mudra Yojana was designed to provide collateral-free loans to micro and small enterprises. The program specifically targets first-time entrepreneurs and small business owners, aiming to bridge the credit gap for those often excluded from traditional banking services.
Over the past decade, the initiative has emerged as a primary driver of financial inclusion. Government data indicates that the scheme has been particularly effective in empowering women and marginalized communities, enabling a transition from informal lending to formal credit structures.
Highlighting the personal qualities required for entrepreneurial success, Prime Minister Modi also shared a Sanskrit verse emphasizing the importance of self-awareness, initiative, and patience. He remarked that a person who remains committed to righteousness and is not easily swayed from their objectives embodies true wisdom.
Government officials and supporters of the program credit the Mudra Yojana with stimulating grassroots economic activity. By facilitating access to formal credit, the scheme has helped millions of small-scale entrepreneurs reduce their dependence on high-interest informal lenders.
The Prime Minister’s observations come at a time when the administration continues to prioritize entrepreneurship and self-reliance as the primary engines of India’s economic growth story.
