Madhya Pradesh Chief Minister Mohan Yadav on Monday highlighted the impact of the Pradhan Mantri Mudra Yojana (PMMY), marking 11 years of its implementation. He stated that the scheme has played a crucial role in empowering entrepreneurs, small traders, and artisans across the country. The initiative has significantly contributed to financial inclusion.
Mohan Yadav: Over 58 crore loans sanctioned under PMMY
According to the Chief Minister, nearly 58 crore Mudra loans have been sanctioned under the scheme so far. The total disbursement has crossed ₹40 lakh crore, reflecting the scale of the programme.
The scheme provides collateral-free loans to non-corporate and non-farm small businesses. It aims to promote entrepreneurship at the grassroots level.
Boost to small businesses and self-employment
The Mudra Yojana has helped millions of individuals start or expand their businesses. Small entrepreneurs, vendors, and artisans have benefited from easier access to credit.
Experts believe that such schemes are vital for job creation. They also support the growth of the informal sector.
Driving financial inclusion at grassroots level
The scheme is considered one of the largest micro-financing initiatives globally. It has expanded banking access to previously underserved sections of society.
Officials noted that financial support at the grassroots level strengthens economic resilience. It also promotes inclusive growth.
Credit to Prime Minister Narendra Modi’s leadership
Mohan Yadav credited the leadership of Narendra Modi for the success of the scheme. He described it as a visionary initiative aimed at economic self-reliance.
The programme aligns with the broader vision of building an “Atmanirbhar Bharat.” It focuses on empowering individuals economically.
Empowering entrepreneurs and artisans
The scheme has opened new opportunities for small-scale entrepreneurs. It enables them to access funds without heavy documentation or collateral requirements.
Such support is crucial for sustaining livelihoods. It also encourages innovation and local enterprise.
