New Delhi, April 08: As the Pradhan Mantri Mudra Yojana (PMMY) completed 11 years on April 8, Prime Minister Narendra Modi said the initiative has played a pivotal role in promoting self-employment and entrepreneurship across the country.
In a post on X, the Prime Minister noted that the scheme has empowered individuals, particularly youth, to become self-reliant while contributing to national development. He emphasised that access to the right opportunities enables people to create livelihoods and drive economic progress.
Launched in 2015, PMMY aims to provide collateral-free loans of up to ₹20 lakh through a network of financial institutions, including banks, non-banking financial companies, and microfinance institutions. The scheme supports income-generating activities in manufacturing, trading, services, and agriculture-allied sectors.
Loans under the scheme are categorised into four segments—Shishu (up to ₹50,000), Kishor (₹50,000 to ₹5 lakh), Tarun (₹5 lakh to ₹10 lakh), and Tarun Plus (₹10 lakh to ₹20 lakh)—catering to businesses at different stages of growth.
Over the years, the scheme has significantly boosted small businesses, traditional enterprises, handicrafts, and rural livelihoods. It has also emerged as a key enabler for women entrepreneurs by improving access to formal credit without the requirement of collateral or extensive credit history.
To further support growth-oriented entrepreneurs, the government introduced the Tarun Plus category in 2024–25, offering higher loan limits to borrowers with a successful repayment track record under earlier categories.
Additionally, initiatives such as the Jan Samarth Portal have streamlined the application process, enabling faster access to credit through an integrated and user-friendly platform.
The continued expansion of PMMY underscores the government’s focus on fostering entrepreneurship, enhancing financial inclusion, and supporting grassroots economic development.
