How is PMMY Changing Lives in Chhattisgarh?
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Synopsis
In an inspiring tale from Chhattisgarh, the Pradhan Mantri Mudra Yojana is revolutionizing the lives of local entrepreneurs. As Prime Minister Narendra Modi celebrates his birthday, we share the success stories of two business owners who credit their achievements to this transformative scheme.
Key Takeaways
- The PMMY empowers local entrepreneurs by providing collateral-free loans.
- Success stories like those of Vinesh Pal and Amit Kesari showcase the positive impact of government initiatives.
- The scheme has contributed to job creation and economic growth in local communities.
- Financial inclusion has become more accessible for small and micro-entrepreneurs.
- The loan limit increase reflects the government's commitment to support aspiring entrepreneurs.
Balrampur, Sep 17 (NationPress) In Chhattisgarh’s Balrampur district, the Pradhan Mantri Mudra Yojana (PMMY) is significantly transforming lives and empowering local entrepreneurs to achieve remarkable success. On the special occasion of Prime Minister Narendra Modi’s birthday, two small business owners, Vinesh Pal and Amit Kesari, shared their inspiring success stories and expressed deep gratitude for a scheme that has radically changed their livelihoods.
Pal, a footwear producer from Ramanujganj, had been operating a small-scale business creating and selling shoes and slippers. However, his business was hindered by limited financial resources. Everything changed when he discovered the PM Mudra Yojana. He applied for a loan at the Central Bank of India and received Rs 5 lakh without needing any collateral.
With this loan, he acquired new machinery, high-quality raw materials, and expanded his inventory. Today, his business flourishes not just in Ramanujganj but also in surrounding towns and villages. He has also created jobs for four local youth, inspiring others in the community.
Expressing his thanks to Prime Minister Modi, Pal stated: "The Mudra Yojana is a gift for small businesses like mine. It has empowered me to dream bigger and achieve financial independence. I encourage other young individuals to take advantage of such government initiatives and build their futures with determination and hard work. I extend my birthday wishes to PM Modi."
Similarly, Kesari, who had been repairing bicycles for years, turned his small shop into a booming business. With a Rs 7 lakh loan from the same scheme, he purchased new bicycles, spare parts, and modern repair tools, greatly enhancing both his services and income.
Kesari now employs two full-time workers and is optimistic about further expansion.
"Previously, I could only perform basic repairs due to a lack of tools and resources. However, after receiving the Mudra loan, I upgraded my entire setup. Now, customers from other villages are visiting my shop," he remarked.
Wishing PM Modi a happy 75th birthday, Kesari added: "Under PM Modi ji’s leadership, small business owners like me are no longer struggling. We are progressing with confidence. I am sincerely thankful for this opportunity."
The PMMY, launched on April 8, 2015, by Prime Minister Modi, marks a decade of empowering small and micro-entrepreneurs across India. Aimed at promoting financial inclusion, it offers easy, collateral-free loans of up to Rs 10 lakh for non-corporate and non-farm income-generating activities. To bolster support for aspiring entrepreneurs, Finance Minister Nirmala Sitharaman announced an increase in the loan limit to Rs 20 lakh during the Union Budget 2024-25 on July 23, 2024. This new limit will take effect from October 24, 2024. Loans are provided through banks, NBFCs, MFIs, and other financial institutions.
Point of View
The Pradhan Mantri Mudra Yojana stands as a testament to the government's commitment to supporting small and micro-entrepreneurs. The stories from Balrampur highlight the positive changes that targeted financial initiatives can bring to local economies. Empowering individuals to achieve self-sufficiency fosters a culture of entrepreneurship that is vital for national growth.
NationPress
21/09/2025
Frequently Asked Questions
What is the Pradhan Mantri Mudra Yojana?
The Pradhan Mantri Mudra Yojana (PMMY) is a government initiative aimed at providing collateral-free loans to small and micro-entrepreneurs in India, facilitating financial inclusion and entrepreneurship.
How much loan can one avail under PMMY?
Under PMMY, individuals can avail of loans up to Rs 10 lakh for non-corporate and non-farm income-generating activities, with the limit increased to Rs 20 lakh as per recent announcements.
Who can apply for PMMY?
Any individual, partnership, or business entity engaged in non-corporate and non-farm income-generating activities can apply for loans under PMMY.
What are the benefits of PMMY?
PMMY provides easy access to financial support without collateral, which helps small business owners start or expand their ventures, contributing to economic growth and job creation.
When was PMMY launched?
The Pradhan Mantri Mudra Yojana was launched on April 8, 2015, by Prime Minister Narendra Modi.
