Modi's Mann ki Baat: 'Mudra Yojana hasn't grown as expected'

Prime Minister Narendra Modi yesterday said the pace of enrolment for the Pradhan Mantri MUDRA Yojana (PMMY) to help small entrepreneurs had not picked up the way he expected it to

New Delhi: Prime Minister Narendra Modi yesterday said the pace of enrolment for the Pradhan Mantri MUDRA Yojana (PMMY) to help small entrepreneurs had not picked up the way he expected it to.

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"Though the MUDRA (Micro Units Development and Refinance Agency) Yojana is in place to help small entrepreneurs, the speed at which I want to go with it has not been attained," Modi mentioned in his ‘Mann Ki Baat address’ on All India Radio. "But the beginning is good.

So far about 66 lakh people have benefited ... with Rs 42,000 crore spent. I am happy to announce that out of 66 lakh people, some 24 lakh are women." He added, "And the majority of these beneficiaries are from among the Scheduled Caste, Scheduled Tribes and Other Backward Class, people who stand up and themselves take responsibility to take care of their families. ...PMMY funds the unfunded and is thus focused on empowering people in the true sense." he said.

The PMMY, under the MUDRA Bank, has been created for the development and refinancing of micro units.

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