New Delhi – Marking a decade of the Pradhan Mantri Mudra Yojana (PMMY), Prime Minister Narendra Modi on Tuesday interacted with several beneficiaries of the scheme that has empowered micro and small business owners across India with collateral-free loans. Since its inception, over ₹33 lakh crore worth of loans have been sanctioned, transforming ordinary individuals into self-reliant entrepreneurs.
During a heartfelt session at his official residence, PM Modi welcomed the beneficiaries warmly, comparing their visit to a sacred occasion. “Our scriptures say when guests arrive, the home becomes pure. I thank you for being here,” he said.
The Prime Minister underscored the scheme’s success in nurturing grassroots entrepreneurship by removing financial barriers for small business owners and first-time borrowers. He particularly acknowledged women’s role, noting that they form the majority of the 52 crore beneficiaries and are among the most disciplined in loan repayments.
Among the inspiring stories shared was that of Lavkush Mehra from Bhopal, who once worked as a domestic help. After receiving a ₹5 lakh Mudra loan in 2021, he launched his business, eventually increasing his turnover from ₹12 lakh in the first year to over ₹50 lakh today. His current loan limit stands at ₹9.5 lakh. “You took our guarantee, and today we are business owners,” he told the PM, who responded, “This scheme was never about praising Modi — it’s about giving India’s youth the strength to rise.”
Poonam Kumari, another beneficiary, moved many with her emotional account. Coming from a farming background and having struggled with poverty, she described how an ₹8 lakh Mudra loan in 2024 allowed her and her husband to launch a seed business. “We used to survive on one meal a day. Now, we earn ₹60,000 a month. I am independent today because of this scheme,” she said.
Ahead of the interaction, PM Modi also took to social media to celebrate the milestone. In a post on X, he wrote,
“As we mark #10YearsOfMUDRA, I congratulate all those whose lives have changed through this scheme. It has made dreams come true and turned aspirations into achievements.”
He further pointed out that the scheme has had a deep social impact, with over 70% of beneficiaries being women and half belonging to SC, ST, or OBC communities. “Every Mudra loan comes with dignity, opportunity, and the spirit of inclusion — not just financial but social,” he said.
Looking ahead, PM Modi reiterated the government’s commitment to expanding access to credit and nurturing a robust ecosystem that supports budding entrepreneurs at every level.
Backing these remarks, Department of Financial Services Secretary M. Nagaraju said the program was designed to “fund the unfunded” and has succeeded in fostering a strong culture of entrepreneurship nationwide.
