Empowerment and New Identities for Women Through Mudra Yojana in Jharkhand's Latehar
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Synopsis
The Mudra Yojana is empowering women in Latehar, Jharkhand, helping them break barriers and achieve financial independence through entrepreneurial ventures.
Key Takeaways
- Women empowerment through entrepreneurship.
- Financial independence achieved via Mudra loans.
- Success stories from Latehar's female entrepreneurs.
- Impact of the Mudra Yojana on local communities.
- Government initiatives reshaping societal roles.
Latehar (Jharkhand), April 12 (NationPress) The Pradhan Mantri Mudra Yojana (PMMY), which recently celebrated its 10th anniversary, continues to uplift millions across India. In Jharkhand’s Latehar district, once recognized for its Naxal challenges, the initiative is not only transforming lives but also redefining the identity and role of women within the community.
Initiated in 2015 by Prime Minister Narendra Modi, the PMMY offers collateral-free loans to small and micro-entrepreneurs, empowering them to establish or grow their businesses.
In the Balumath region of Latehar district, numerous women have successfully obtained loans under the Mudra Yojana, allowing them to operate flourishing enterprises such as oil mills, flour mills, RO water facilities, and puffed rice (murhi) processing units. These ventures not only empower the women but also create job opportunities for others within the community.
IANS spoke to several women beneficiaries who expressed profound gratitude to Prime Minister Modi and the government for launching schemes that have enabled them to break traditional barriers and achieve financial independence.
“I want to extend my heartfelt thanks to Modi ji,” stated one woman entrepreneur.
“Previously, we were merely housewives without recognition. Today, we own businesses, we are being interviewed, and people are acknowledging our efforts. This transformation is due to the opportunities provided by the government.”
Another beneficiary, Meena Devi, shared her personal experience.
“I joined a self-help group and secured a Mudra loan. I used to be a housewife, but now I contribute financially to my family. It has revolutionized our lives.”
Maya, another local woman, took a modest loan of Rs 5,000 to initiate mushroom farming. With her profits, she expanded her business and even purchased tractors to enhance her farming operations.
“Acquiring the loan was straightforward, and I never envisioned achieving so much. I’m thankful for this opportunity,” she remarked.
Nitu, another participant, mentioned, “The initiatives introduced by Prime Minister Modi have genuinely given us an identity and sense of purpose. We are no longer dependent on anyone and can support our families.”
Not only women have benefitted from this scheme. Rajendra Sao, a migrant worker who returned home, recounted how the Mudra Yojana assisted him in restarting his life post-pandemic.
“During the lockdown, I returned to my village without savings. Thanks to the Mudra Yojana, I secured a loan and launched my own small enterprise. I no longer need to borrow from others. It’s a relief and a source of pride.”
Sanjeev Kumar, Lead District Manager of Latehar, informed IANS that the scheme has played a pivotal role in fostering entrepreneurship in the area.
“Under the PM Mudra Yojana, loans are being dispensed without collateral, and women, in particular, are effectively utilizing these funds. Many have achieved self-reliance and inspire others to embark on similar journeys,” he said.
The transformation observed in Latehar stands as a testament to how government-supported financial inclusion initiatives can catalyze social change, especially in remote and previously neglected areas.
Where fear and insurgency once confined women to their homes, today, entrepreneurship and empowerment have unlocked new possibilities. These narratives from Latehar represent a broader movement throughout India, where access to credit and government backing is enabling individuals to realize their potential and forge a brighter future for their families and communities.
As the Mudra Yojana embarks on its second decade, the voices from Latehar convey a powerful message: when equipped with the right tools and opportunities, even the most marginalized communities can rise, flourish, and lead.
