Mudra Yojana has become a job multiplier: PM Modi
Mudra Yojana has helped in relieving the entrepreneurs from the vicious cycle of moneylenders and middlemen: PM Modi
Mudra Yojana has opened up new opportunities for youth, women and those who wanted to start or expand their businesses: PM Modi
Mudra Yojana has transformed the lives of the poor: PM Modi
By aiding small and micro businesses, Mudra Yojana has helped to strengthen people economically, socially and has given people a platform to succeed: PM Modi

Brothers and sisters,

It’s my good luck that today I got the opportunity to speak tothe people who are actively involved with a scheme that is very dear to my heart, the enterprising youth and the sisters who came out leaving behind tradition. You are such people who built your path instead of following the traditional way and you built path with courage and will power. You contributed in a big way to the country’s prosperity and happiness.

Today, the whole country has joined me in listening to the story of your courage, of the decisions taken by you, of your initiativein this journey through this video conference. Only last month, I had the opportunity to spend some time with the beneficiaries of the Mudra scheme at the Prime Minister’s residence. Their experiences, their struggle and the stories of their progress gave satisfactionand also filled my heart with pride. I had decided that day itself that if I get a chance, I would talk to the Mudra beneficiaries, I would chitchat with them. And, today, both your time and my time are being saved because of technology. I can hear your experiences,realise your feelings directly and no intermediaryis required between us.

The contribution made by the entrepreneurs like you is very important for the country’s economy. You are aware that loan fairs were organised 25-30 years ago for political benefit. And the people who were politically affiliated, their minions, contractorsand those doing vote bank politics, all such people used to get money from banks. A lot of news items were also published that how much bank loan has been given. No one cared to ask what happened thereafter. We neither organised loan fairs nor did we provide space to any broker. The youth of the country, the mothers and sisters of the country those who wanted to do something on their own, those who wanted to talk to bank officials directly, for them we prepared a product – Mudra Yojana – which became a very big opportunity for those countrymen who wanted to do something. We trusted our small entrepreneurs, we trusted their business skills; we gave them loans under the Mudra Yojanaso that they can start their own business and expand it. Mudra Yojana not only created opportunities for self- employment but also has been acting as a job multiplier.

Since independence licence regime remained in place in our country. Those who knew someone only they were able to get loans; the work of only those people was done who had references. In some way or other, this system kept the poor people out of the system because they neither had a big name nor any approach. It was one of the big reasons because of which thousands of small entrepreneurs could neither start their business nor expand them as per their abilities. For financial assistance, they remained trapped under the grip of money lenders.

There was a time in this country when the Finance minister himself used to make phone calls for arranging loans for big industrialists. On the other hand a small entrepreneur used to be trapped in paying 30-40% interest to money lenders in such a way that he could not get out of it in his entire life. This vicious cycle was destined to be broken someday, it was to be broken by someone. We have made efforts in this direction and we have succeeded. We have been breaking apart this vicious cycle.

With trust and confidence; with the government’s faith in poor people, faith in their dreams and hard work of poor people…

Had the youth of the country got a scheme like Mudra Yojanadecades ago I am sure the problem of migration towards cities would not have been so acute. Young people would do business on their own staying back in their cities or villages if they were able to avail bank loans without guarantee, had they got the bank loans on low interest rates. Today, the poorest of the poor is getting bank loan without a collateral. Today, even a common man, without any special name or reference can become an entrepreneur with the help of Mudra loan. And, today, it is not necessary to have a friend or relative in the government. Today, there is no dearth of talent in the country. Everybody has some skill in one field or another, the need is to recognise that skill and to encourage him. Mudra Scheme has been providing strength to these skills of the people, particularly of the youth.

When skills are encouraged then they blossom further and a change is brought about in the life. Suppose, someone has a skill in making embroidery on cloths; he or she started a business of making embroidery on cloths by borrowing money under the Mudra Yojana. Gradually, he or she would start a business of designer clothes. Someone got the help in starting his handloom business. In a way, Mudra Yojana has done the job of polishing the skills of the common man. It has done the job of getting recognition of those skills and has done the job of empowering people. Under the Mudra Yojana, an amount of Rs. 5.75 lakh crore has been disbursed among 12 crore beneficiaries.

At times it happens that the government has funds for schemes but it cannot be fully utilised. But you will be surprised to know that Mudra is such a scheme where the loan amount has exceeded the target.

Under this scheme, 28 per cent, or nearly Rs. 3.25 lakh crore have been given to those people who have for the first time started their business. In a way, these are those people who became employed after a long spell of unemployment.

The most satisfactory thing in this scheme is that 74% beneficiaries of the scheme are women, it means about 9 crore beneficiariesare women. When a woman makes progress, when she becomes the centre of economic activity then the confidence of the entire family goes up and entire thinking changes and society becomes empowered. Similarly, 55 per cent of the total loan amount under the Mudra Yojana have been given to members of backward communities. It means out of total 12 crore beneficiaries 55 per cent of loan money have been given to the entrepreneurs of SC/ST and OBC communities. We have been hearing slogans for decades in the name of poverty, we have heard the talk about the upliftment of poor but Mudra Yojana is such a scheme which has been doing the work of giving financial and social power to the backward communities without any discrimination, it has been doing the work of empowering them.

Meanwhile, several institutions have joined the bandwagon. Today, not only 110 banks, but 72 Micro Financial Institutions and 9 Non-Banking Financial Companies (NBFCs) have also been giving Mudra Loans. Banks have simplified the process of granting Mudra loan. Paperwork has been made simple andcollecting documents is no longer a matter of tension. Today, it is a matter of pride to be self-employed and you people are a source of inspiration for that.

സേവനത്തിന്റെയും സമർപ്പണത്തിന്റെയും 20 വർഷങ്ങൾ നിർവ്വചിക്കുന്ന 20 ചിത്രങ്ങൾ
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നടന്നു പോയിക്കോളും എന്ന മനോഭാവം മാറ്റാനുള്ള സമയമാണിത്, മാറ്റം വരുത്താനാവും എന്ന് ചിന്തിക്കുക: പ്രധാനമന്ത്രി മോദി

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നടന്നു പോയിക്കോളും എന്ന മനോഭാവം മാറ്റാനുള്ള സമയമാണിത്, മാറ്റം വരുത്താനാവും എന്ന് ചിന്തിക്കുക: പ്രധാനമന്ത്രി മോദി
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PM chairs high level meeting to review preparedness to deal with Cyclone Jawad
December 02, 2021
PM directs officials to take all necessary measures to ensure safe evacuation of people
Ensure maintenance of all essential services and their quick restoration in case of disruption: PM
All concerned Ministries and Agencies working in synergy to proactively counter the impact of the cyclone
NDRF has pre-positioned 29 teams equipped with boats, tree-cutters, telecom equipments etc; 33 teams on standby
Indian Coast Guard and Navy have deployed ships and helicopters for relief, search and rescue operations
Air Force and Engineer task force units of Army on standby for deployment
Disaster Relief teams and Medical Teams on standby along the eastern coast

Prime Minister Shri Narendra Modi chaired a high level meeting today to review the preparedness of States and Central Ministries & concerned agencies to deal with the situation arising out of the likely formation of Cyclone Jawad.

Prime Minister directed officials to take every possible measure to ensure that people are safely evacuated and to ensure maintenance of all essential services such as Power, Telecommunications, health, drinking water etc. and that they are restored immediately in the event of any disruption. He further directed them to ensure adequate storage of essential medicines & supplies and to plan for unhindered movement. He also directed for 24*7 functioning of control rooms.

India Meteorological Department (IMD) informed that low pressure region in the Bay of Bengal is expected to intensify into Cyclone Jawad and is expected to reach coast of North Andhra Pradesh – Odisha around morning of Saturday 4th December 2021, with the wind speed ranging upto 100 kmph. It is likely to cause heavy rainfall in the coastal districts of Andhra Pradesh, Odisha & W.Bengal. IMD has been issuing regular bulletins with the latest forecast to all the concerned States.

Cabinet Secretary has reviewed the situation and preparedness with Chief Secretaries of all the Coastal States and Central Ministries/ Agencies concerned.

Ministry of Home Affairs is reviewing the situation 24*7 and is in touch with the State Governments/ UTs and the Central Agencies concerned. MHA has already released the first instalment of SDRF in advance to all States. NDRF has pre-positioned 29 teams which are equipped with boats, tree-cutters, telecom equipments etc. in the States and has kept 33 teams on standby.

Indian Coast Guard and the Navy have deployed ships and helicopters for relief, search and rescue operations. Air Force and Engineer task force units of Army, with boats and rescue equipment, are on standby for deployment. Surveillance aircraft and helicopters are carrying out serial surveillance along the coast. Disaster Relief teams and Medical Teams are standby at locations along the eastern coast.

Ministry of Power has activated emergency response systems and is keeping in readiness transformers, DG sets and equipments etc. for immediate restoration of electricity. Ministry of Communications is keeping all the telecom towers and exchanges under constant watch and is fully geared to restore telecom network. Ministry of Health & Family Welfare has issued an advisory to the States/ UTs, likely to be affected, for health sector preparedness and response to COVID in affected areas.

Ministry of Port, Shipping and Waterways has taken measures to secure all shipping vessels and has deployed emergency vessels. The states have also been asked to alert the industrial establishments such as Chemical & Petrochemical units near the coast.

NDRF is assisting the State agencies in their preparedness for evacuating people from the vulnerable locations and is also continuously holding community awareness campaigns on how to deal with the cyclonic situation.

The meeting was attended by Principal Secretary to PM, Cabinet Secretary, Home Secretary, DG NDRF and DG IMD.