New Delhi, 08 April (H.S.):
Union Finance Minister Nirmala Sitharaman stated on Wednesday that the Pradhan Mantri Mudra Yojana (PMMY) will become an active partner in achieving 'Viksit Bharat' by 2047 by empowering micro-entrepreneurs. Launched on April 8, 2015, the scheme has disbursed over ₹40 lakh crore in loans over 11 years, enabling millions to become self-reliant.
In a statement on X marking PMMY's 11th anniversary, Sitharaman highlighted a silent revolution where crores of ordinary citizens have embraced entrepreneurship with new confidence.
PMMY focuses on funding the unfunded, with 78% loans under the 'Shishu' category aiding first-time entrepreneurs. It has reshaped credit access for MSMEs and individuals previously excluded from formal banking, truly democratizing entrepreneurship by removing loan barriers.
Cumulatively, over 57.79 crore loans worth ₹40.07 lakh crore have been sanctioned; two-thirds went to women entrepreneurs, and one-fifth (₹12 lakh crore via 12.15 crore loans) to newcomers. Sitharaman praised banks, financial institutions, and stakeholders for its success.
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Hindusthan Samachar / Jun Sarkar
