A Decade of Mudra Yojana: Inspiring Financial Journeys in Odisha
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Synopsis
The Pradhan Mantri Mudra Yojana, launched ten years ago, has fundamentally transformed the landscape for micro and small enterprises in India. Beneficiaries from Odisha share how this unique initiative has empowered them financially and contributed to their personal success stories.
Key Takeaways
- Empowerment through financing opportunities.
- Elimination of collateral requirements.
- Support for grassroots entrepreneurship.
- Over 52 crore loans sanctioned.
- Impact on inclusive economic growth.
Khordha (Odisha), April 8 (NationPress) The Pradhan Mantri Mudra Yojana (PMMY), which was initiated a decade ago, has significantly contributed to financing micro and small enterprises, establishing them as an integral part of India's economic narrative.
Throughout the years, the PMMY has revolutionized lives by empowering young entrepreneurs to pursue their dreams with dignity and determination.
Entrepreneurs who once faced hurdles due to financial constraints have now discovered a route to success and self-sufficiency through this flagship initiative of the Modi administration.
A few beneficiaries of the Mudra Yojana from Khordha district in Odisha shared their transformative experiences after securing loans through the scheme in an interview with IANS.
Nalini Kant Panda, a resident of Khordha, expressed that he previously operated a modest medicine shop but always aspired to grow his business. Today, he is a distributor for numerous pharmaceutical firms.
“Thanks to Mudra Yojana, I obtained a loan of ₹10 lakh without the requirement for collateral or extensive documentation. This initiative has altered my life. I began with a small shop, and now I have broadened my operations. I am thankful to Prime Minister Narendra Modi for this visionary program that has provided individuals like me with a fresh direction,” Panda remarked.
Shib Kumar Muni, another beneficiary who took out a loan under the Mudra Yojana five years ago, has witnessed exceptional growth in his enterprise, for which he is incredibly grateful to the Modi government.
“Initially, my business was modest. However, with the assistance of the Mudra Yojana, I received a loan without having to provide any collateral. This opportunity allowed me to expand and operate my business effectively,” he expressed, showing appreciation to PM Modi.
Additional beneficiaries noted that the scheme not only supports individuals and grassroots businesses but also propels the nation toward inclusive economic growth.
By eliminating collateral requirements and streamlining the loan application process, the Mudra Yojana has ushered in a new era of grassroots entrepreneurship.
Since its inception in April 2015, the PMMY has approved over 52 crore loans, totaling ₹32.61 lakh crore, igniting a nationwide entrepreneurial movement.
