MSME got substantial impetus from Mudra Yoja: Modi

New Delhi, April 8: Prime Minister rendra Modi on Sunday hailed the union government scheme of Mudra Yoja for giving substantial impetus to the Micro, Small and Medium Enterprises (MSME) sector and said it is crucial for the country’s transformation.

Launched in 2015, the Pradhan Mantri Mudra Yoja (PMMY) was introduced to cater to entrepreneurs who were either in their early stage or require lesser funds in order to get their business running.

As the scheme completed three years of its launch on Sunday, Modi tweeted and said that his government was undertaking a series of steps and reforms to facilitate further growth in the sector.

“Through Mudra Yoja, the MSME sector is receiving a substantial impetus. MSME is a sector that is crucial for India’s transformation and our government is undertaking a series of steps and reforms to facilitate further growth in the sector,” Modi said.

He said the Mudra Yoja was furthering a spirit of enterprise and self-reliance among youth and women. The scheme was launched for providing loans upto Rs 10 lakh to the non-corporate, non-farm small and micro enterprises.

“A substantial number of Mudra beneficiaries are women and youngsters from the Scheduled Caste, Scheduled Tribes and Other Backward Class communities, which is extremely heartening,” he said.

He said the PMMY was launched to give wings to the aspirations of citizens and harness the entrepreneurial energy among youth.

“...I am delighted to see how Mudra Yoja has brought prosperity in the lives of many.”

The Prime Minister also took the opportunity to invite the beneficiaries of the scheme to share their success stories and said he would meet some of them at his official residence on April 11. (IANS)