New Delhi: Prime Minister Narendra Modi said on Friday that the Pradhan Mantri Mudra Yojana has given innumerable Indians the opportunity to demonstrate their entrepreneurial abilities. In a tweet, PM Modi said, "Guided by the philosophy of Funding The Unfunded, Mudra Yojana has given an opportunity to innumerable Indians to demonstrate their entrepreneurial skills and become job creators."
"As we commemorate 7 years of PMMY, here's how it's been a game-changer in terms of dignity and prosperity," he continued. The government sets annual targets for the amount to be sanctioned by more than 150 Member Lending Institutions under the Pradhan Mantri Mudra Yojana (MLIs). The MLIs, in turn, set their state-wise targets based on the area's potential, their presence, and other relevant characteristics.
MLIs give institutional credit up to Rs 10 lakh to micro/small business units for income-generating activities in the manufacturing, trading, and services sectors, as well as activities related to agriculture, under the plan.
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