Mudra Yojna has opened new avenues for youth, women: PM

RSTV Bureau
PM Narendra Modi (File Photo)

PM Narendra Modi (File Photo)

Prime Minister Narendra Modi on Tuesday interacted with the beneficiaries of PM Mudra Yojana through NaMo App. The interaction was held at 9:30 AM where several beneficiaries too participated. Pradhan Mantri MUDRA Yojana is a scheme launched on April 8, 2015 for providing loans upto 10 lakh Rs to the non-corporate, non-farm small/micro enterprises.

“Mudra Yojana has opened up new avenues for youth, women and those who wanted to start or expand their businesses. Not only this, Mudra Yojana is also acting as a job multiplier,” he said.

The loans under this scheme are given by commercial banks, RRBs, small finance banks, cooperative banks, MFIs and NBFCs. Loans worth Rs 6 lakh crore have been given to 12 crore beneficiaries under the Mudra scheme, Modi said as he took a swipe at the previous governments of tokenism and not enough for small businesses.

Saying that out of 12 crore beneficiaries, 55% belonged to the youth and women from SC, ST and OBCs. “Out of the 12 crore beneficiaries, 28 per cent or 3.25 crore are first-time entrepreneurs,” he said in his interaction with beneficiaries of this scheme.

“We have immense faith on our small entrepreneurs and we have provided them all possible help under this scheme. Mudra Yojana is not just a self employment scheme but it acts as job multiplier as it has created jobs as several new ventures got started,” Modi said.

Mudra Yojna will help in a long way to hone and upgrade the skills of the small entrepreneurs, he said.

“The NDA government did not organise any loan melas or gave space to intermediaries. It trusted the country’s youth and women to get loans directly from the banks and start their own small business,” the Prime Minister said.

On Monday, he held similar interaction with the women beneficiaries of Pradhan Mantri Ujjwala Yojana. Interacting through Narendra Modi App, he said that out of four crore free LPG connections given to poor women, 45%beneficiaries have been Dalits and tribals.

The beneficiaries also shared their experiences with the Prime Minister.