New Delhi
The Pradhan Mantri Mudra Yojana (PMMY) has completed 10 years since its launch on April 8, 2015. In this time, over 52 crore loans worth Rs 32.61 lakh crore have been given to small entrepreneurs across India, mostly in small towns and villages.
The scheme offers collateral-free loans to help people start or grow small businesses. It has especially helped first-time entrepreneurs and created job opportunities at the local level. An official report says it has added 2.52 crore jobs every year on average since 2014.
According to the SKOCH report on “Outcomes of ModiNomics 2014–24,” the scheme has also empowered women. Around 70% of Mudra loans have been taken by women. The average loan amount to women has grown steadily, showing their rising confidence in doing business.
In Jammu and Kashmir alone, over 20 lakh Mudra loans have been given. Across India, the scheme has supported more than 2.8 million women-led small businesses, according to the IMF. The IMF also praised the scheme for helping promote self-employment and formal business setups.
An SBI report shows a major jump in loan categories like Kishor (Rs 50,000–Rs 5 lakh) and Tarun (Rs 5 lakh–Rs 10 lakh), showing that many businesses are now growing. MSME loans grew from Rs 8.51 lakh crore in 2014 to Rs 27.25 lakh crore in 2024, and are expected to cross Rs 30 lakh crore in 2025.
Today, MSMEs account for nearly 20% of all bank credit in India. PMMY continues to support grassroots growth and financial independence.
