“Mudra Yojana Brought Silent Revolution in Entrepreneurship,” says PM Modi

New Delhi: Prime Minister Narendra Modi on Tuesday interacted with beneficiaries of the Pradhan Mantri MUDRA Yojana at his residence, marking the 10th anniversary of the flagship scheme. Calling it a “silent revolution,” the Prime Minister said the initiative has fundamentally changed societal attitudes towards entrepreneurship and financial self-reliance.

Addressing participants at 7, Lok Kalyan Marg, PM Modi said the Mudra Yojana is not confined to any particular group, but is a powerful tool aimed at empowering India’s youth to stand on their own feet. “This scheme has instilled confidence, nurtured risk-taking abilities and unlocked the entrepreneurial spirit of crores of Indians,” he remarked.

He underlined that 52 crore loans have been sanctioned under the Mudra Yojana, calling it a “monumental achievement unparalleled globally.” He also noted that a record ₹33 lakh crore has been disbursed without the need for collateral, adding that the government’s trust in the common citizen far exceeds any financial support given to the wealthy.

Women Entrepreneurs Leading the Way
The Prime Minister emphasized the critical role of women, stating they are among the top beneficiaries of the Mudra scheme. “Women are leading not only in loan uptake but also in timely repayments and business success,” he added.

During the event, PM Modi engaged in heartfelt conversations with entrepreneurs from various states, who shared stories of transformation made possible by Mudra loans.

One such story came from Kerala’s Gopi Krishna, who left his job in Dubai to launch a renewable energy venture. With support from Mudra and the PM Surya Ghar initiative, he now installs solar systems for households and earns over ₹2.5 lakh a month.

Another entrepreneur, the 23-year-old founder of House of Puchka from Raipur, Chhattisgarh, spoke about her journey from home cooking to café ownership. She stressed the need for more awareness among the youth about government schemes that offer collateral-free support.

From Baramulla, Kashmir, bakery owner Mudassir Naqshbandi shared how he transitioned from being a job seeker to an employer of 42 individuals. He revealed that 90% of his transactions are now conducted through UPI, reflecting the digital shift in small businesses.

Ripple Effects of Entrepreneurship
The Prime Minister highlighted the ripple effect of such stories, referring to Suresh from Silvassa, who left his job in 2022 and now inspires friends to start their own ventures.

He also listened to Lavkush Mehra from Bhopal, who started a pharma business with a ₹5 lakh Mudra loan in 2021, expanded it to ₹50 lakh in turnover, and recently bought a house worth ₹34 lakh. “His story showcases how ordinary youth are becoming extraordinary entrepreneurs,” Modi said.

The session also featured narratives from women in Manali, Raebareli, Andhra Pradesh, and Bihar, who spoke about expanding businesses ranging from jute products to bakeries with Mudra loan support. Several of them now employ multiple people, underlining the scheme’s contribution to grassroots employment.

A Decade of Empowerment
Reflecting on the decade-long journey of the scheme, the Prime Minister said, “This government doesn’t just roll out schemes and forget. We consult beneficiaries even after 10 years to ensure their success and future improvements.”

He noted that the Mudra loan limit has now been increased from ₹5 lakh to ₹20 lakh, showcasing the government’s growing confidence in citizens’ entrepreneurial potential.

Recalling his tenure in Gujarat, Modi shared anecdotes about street plays used to inspire people to break the cycle of poverty. “Some even surrendered their welfare benefits after becoming self-reliant—this is true empowerment,” he said.

Concluding the interaction, the Prime Minister urged beneficiaries to inspire at least five to ten others to leverage the scheme, thus building a chain of confidence and economic empowerment across the country.

Union Minister of State for Finance Pankaj Chaudhary was also present during the interaction.