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Updated: May 25, 2025 07:20
As India marks a decade of the Pradhan Mantri Mudra Yojana (PMMY), the scheme's effects on small shopkeepers and micro-entrepreneurs are nothing but a grassroots revolution. Brought out in 2015 with the aim to "fund the unfunded," PMMY has dismantled barriers for countless small business owners, changing lives and communities nationwide.
Key Highlights:
Over 52 crore loans worth ₹33 lakh crore have been sanctioned under PMMY, reaching the most remote villages and small towns of India and empowering first-generation entrepreneurs in small towns and villages.
The scheme offers collateral-free loans up to ₹20 lakh, facilitating credit access for tea vendors, beauty parlour owners, tailors, mobile phone repairers, and millions of other small shopkeepers who were not able to avail bank loans earlier.
Women have benefited most—over 68% of Mudra loans have gone to women, leading to a new age of women entrepreneurship and economic empowerment.
The scheme has been a game-changer for backward classes, with an equal number of beneficiaries belonging to SC, ST, and OBC communities, leading to social and financial inclusion.
Success stories are many: Bihar's Dinesh Agarwal started a thriving plastic products business with a ₹10 lakh Mudra loan; Megha Rani salvaged her family's fortunes by starting a surgical shop, now providing employment to others in her area.
Tailoring businesses by shopkeepers like Kamlesh in Delhi generated more employment for women and improved the living standard of their families, while others diversified from modest beginnings to robust businesses.
The scheme has altered perceptions—shopkeepers are no longer just employment seekers but employment generators, infusing local economies and giving jobs.
PM Modi termed the scheme a "silent revolution," citing its capability to endow every beneficiary with dignity, self-respect, and opportunity, and reaffirming the government's commitment to creating a strong, caring entrepreneurial ecosystem.
From dusty bazaars to big cities, Mudra Yojana is penning a new story of India's growth—one tiny shopkeeper at a time.
Source: DD News
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