Gujarat: Mudra Yojana beneficiaries share their journey of success, thank govt

IANS April 10, 2025 125 views

The Pradhan Mantri Mudra Yojana has revolutionized small business financing across India over the past decade. Entrepreneurs, especially in Gujarat, are experiencing unprecedented growth through easy, collateral-free loans. Prime Minister Narendra Modi's initiative has specifically targeted middle and lower-middle-class business owners who traditionally struggled to access banking support. The scheme has not only facilitated individual business expansion but also contributed to broader economic empowerment and job creation.

"Small businessmen like us lack capital. PM Modi started the PM Mudra Yojana keeping people like us in mind." - Unnamed Beneficiary, Rajkot
Rajkot, April 10: As the Pradhan Mantri Mudra Yojana (PMMY) completed a decade since its launch on April 8, 2015, there are umpteen stories of success pertaining to the middle class, who not just conceived an enterprise of their own and also executed them with monetary assistance from the government.

Key Points

1

Mudra Yojana provides collateral-free loans up to Rs 10 lakh

2

Scheme supports non-corporate income-generating activities

3

Beneficiaries report significant business expansion

4

Program creates additional employment opportunities

The beneficiaries of Mudra Yojana, pan-India, particularly the middle and lower middle class, are today grateful to the government for facilitating funding for their enterprises and new ventures.

In Gujarat's Rajkot, several beneficiaries spoke to IANS and gave insights on how the Mudra Yojana proved instrumental in bringing a turnaround in their lives.

A beneficiary said, "I am grateful to Prime Minister Narendra Modi. The help we have received under the Mudra scheme has made it easier for us to run our business."

He said that the sole purpose of the scheme is to help small businessmen like him to assist in running the enterprise.

"Small businessmen like us lack capital. PM Modi started the PM Mudra Yojana keeping people like us in mind. It's because of his policies that we are getting loans easily from the bank," he said.

The beneficiary runs his business in Gokul Nagar, located on the ring road of Rajkot. In 2018, he planned to start a startup, but he did not have enough money. He got information about the PM Mudra Yojana and contacted the bank. After this, he got a loan and expanded his business.

Notably, the PMMY provides easy collateral-free loans up to Rs 10 lakh for non-corporate and non-farm income-generating activities. These loans are extended to aspiring entrepreneurs through Banks, Non-Banking Financial Companies and other financial institutions.

Lakhs of small businessmen across the country have taken loans under the scheme and expanded their businesses, thereby creating employment opportunities for others.

Reader Comments

P
Priya S.
This is such an inspiring story! My cousin in Ahmedabad also benefited from Mudra Yojana to start her tailoring business. Government schemes like these truly empower people at grassroots level. 👏
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Rahul K.
While I appreciate the success stories, I wish the article had more details about repayment rates and how sustainable these businesses are long-term. The scheme is good but needs proper monitoring.
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Meena P.
My husband got a loan under this scheme to expand our small grocery store in Surat. The process was surprisingly smooth and the interest rates were reasonable. More people should know about this!
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Amit D.
Great initiative but banks need to simplify the documentation process further. Many small entrepreneurs get discouraged by the paperwork involved.
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Sunita R.
Stories like these warm my heart! When women get access to such schemes, entire families benefit. Hope more women entrepreneurs come forward to use Mudra loans. 💪
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Vikas M.
Used Mudra loan to buy equipment for my auto repair shop in Vadodara. 3 years later, I've repaid the loan and now employ 2 mechanics. Life-changing scheme for people like us!

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Tags:
Mudra Yojana Narendra Modi Small Business Loans Gujarat Entrepreneurs Financial Inclusion PMMY
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