Khordha, Apr 8: The Pradhan Mantri Mudra Yojana (PMMY), launched ten years ago, has gone a long way in funding micro and small enterprises and making them an ‘unbreakable’ part of India's growth story.

Over the years, the PMMY has transformed lives by enabling young entrepreneurs to live with dignity and purpose.

Those entrepreneurs, who once struggled due to lack of funds, have now found a path to success as well as self-reliance through the flagship initiative of the Modi government.

A couple of Mudra Yojana beneficiaries from Odisha’s Khordha district spoke to IANS and shared their story of transformation after receiving loans under the scheme.

Nalini Kant Panda, a Khordha resident said that he used to run a small medicine shop but always dreamt of expanding his business. Today, he has become a distributor for various pharmaceutical companies.

“Thanks to Mudra Yojana, I got a loan of Rs 10 lakh without the need for collateral or lengthy paperwork. This scheme has changed my life. I started with a small shop, and now I have expanded my operations. I am grateful to Prime Minister Narendra Modi for this visionary initiative that has given people like me a new direction,” said Panda.

Shib Kumar Muni, another beneficiary who availed a loan under the Mudra Yojana, five years ago, has seen remarkable growth in enterprise and for this he can’t thank the Modi government enough.

“Earlier, my business was small. But with support from the Mudra Yojana, I received a loan without paying any collateral. This opportunity helped me expand and run my business smoothly,” he said, expressing gratitude to PM Modi.

A couple of other beneficiaries said that the scheme was not just supporting individuals as well as grassroots firms but also driving the nation towards inclusive economic growth.

As the Mudra Yojana exempted the need for collateral and simplified the process for availing a loan, this paved a new era of grassroots entrepreneurship.

Since its launch in April 2015, the PMMY has sanctioned over 52 crore loans worth ₹32.61 lakh crore, fueling a nationwide entrepreneurial revolution.

(IANS)

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