PM Mudra Yojana: 10 Glorious Years That Changed the Micro and Small Business Landscape in India! Check How It Gave Wings to Millions

PM Mudra Yojana: Ten years ago, micro and small businesses in India were facing tough times. Entrepreneurs had big dreams but little financial support. Banks were not easily accessible and opportunities were limited. In this challenging landscape, the launch of the PM Mudra Yojana in 2015 brought a ray of hope.

Today, this government initiative is being celebrated as a gamechanger for micro and small businesses. It has not only supported lakhs of budding entrepreneurs but also transformed the way small businesses grow in India.

PM Mudra Yojana’s Massive Financial Boost

Launched on 8th April 2015, the PM Mudra Yojana (Pradhan Mantri Mudra Yojana) was designed to provide loans to non-corporate, non-farm small businesses. These loans, known as Mudra loans, are offered under three categories – Shishu, Kishore and Tarun, depending on the stage and size of the business.

Over the last ten years, loans worth ₹33 lakh crore have been sanctioned. This large financial push has changed the game for micro and small business owners across the country. From local shopkeepers to street vendors, many have used these loans to expand operations, buy equipment or start new ventures.

Entrepreneurs Now Dream Bigger, Thanks to PM Mudra Yojana

So far, over 52 crore loans have been distributed under this scheme. A majority of these have gone to first-time entrepreneurs, many from rural areas. What's more inspiring is that 70% of the beneficiaries are women entrepreneurs.

This shows how PM Mudra Yojana has become a strong launchpad for empowering women and marginalised communities like SC, ST, and OBC groups. With easier access to credit, many people have broken free from unemployment and dependency.

Micro and Small Business Growth: From ₹10 Lakh to ₹20 Lakh Loans

Seeing the increasing demand and success stories, the government has now raised the loan limit from ₹10 lakh to ₹20 lakh under this scheme. This bold move aims to offer greater flexibility and growth potential for small businesses.

With higher financial backing, micro-level businesses are no longer stuck at the ground level. They are growing faster and becoming more competitive in local and national markets.

Celebrating 10 Years of Transforming Lives

As the PM Mudra Yojana marks a successful decade, Prime Minister Narendra Modi has congratulated the people of India for turning this vision into reality. The scheme has truly uplifted the entrepreneurial spirit of the nation.

From empowering individuals to boosting local economies, the scheme continues to fuel dreams and build a stronger business foundation for India's future.