Pradhan Mantri Mudra Yojana Created Entrepreneurial Opportunities For Several Indians: PM Modi

Under the scheme, MLIs can give institutional credits of up to Rs 10 lakh to micro/small business units

Prime Minister Narendra Modi (ANI Image)

New Delhi: Entrepreneurial chances in India have been on an upward swing since Prime Minister Narendra Modi came to power and gave the call "vocal for local". On Friday, PM Modi spoke about how the 'Pradhan Mantri Mudra Yojana' has created opportunities for countless of Indians.

Taking to Twitter, the Prime Minister said, "Guided by the principle of Funding The Unfunded, Mudra Yojana has given an opportunity to countless Indians to showcase their entrepreneurial skills and become job creators."

"As we mark 7 Years Of PMMY here is how it's been a game-changer and enhanced dignity as well as prosperity," the PM added further.

Guided by the principle of #FundingTheUnfunded, Mudra Yojana has given an opportunity to countless Indians to showcase their entrepreneurial skills and become job creators. As we mark #7YearsOfPMMY here is how it’s been a game changer and enhanced dignity as well as prosperity. https://t.co/h21i8kaknf

— Narendra Modi (@narendramodi) April 8, 2022

In order to help entrepreneurs, the government under the Pradhan Mantri Mudra Yojana fixes an annual amount to be sanctioned by more than 150 Member Lending Institutions (MLIs). The MLIs then set their respective state-wise target, depending upon the potential of the area.

Under the scheme, MLIs can give institutional credits of up to Rs 10 lakh to micro/small business units to help them generate income from activities like manufacturing, trade and agriculture.

Earlier today, PM Modi announced the completion of 3 crore 'pucca' houses under the Pradhan Mantri Awas Yojana for the poor and called it the "symbol of women empowerment".