In its eight years of operation, the Pradhan Mantri Mudra Yojana (PMMY), a program aimed to empower young entrepreneurs in India, has significantly revitalized micro-credit initiatives.
Across eight northeastern states, an astonishing 1,37,83,400 residents have leveraged the program, securing loans totaling Rs 74,812 crore from April 2015 to June 2023.
Former Chief Minister of Tripura and current Rajya Sabha MP, Biplab Kumar Deb, proudly highlighted these achievements in a recent press conference.
Tripura now ranks as the second-largest beneficiary state in the northeastern region, following Assam, both in terms of the number of beneficiaries and the loan amount disbursed under PMMY during the mentioned period.
Deb provided a detailed overview of the PMMY’s impact in the northeastern states. He said, “Assam received loans totaling Rs 50,778 crore, which was distributed to 1,00,13,161 beneficiaries.
Tripura received loans around Rs 13,517 crore and distributed to 2,630,679 beneficiaries. Manipur received Rs 2,662 crore in loans and distributed among 4,42,002 beneficiaries. 2,39,027 individuals in Meghalaya received loans of Rs 2,153 crore. Mizoram received loans totaling Rs 1,798 crore and distributed to 1,15,733 beneficiaries. Nagaland received loans of Rs 1,559 crore, which benefited 1,15,749 individuals.”
The statistics underscore the significant impact of the PMMY in the northeastern states, which fostered financial independence and self-reliance or entrepreneurship among the region’s youth.
Further, Biplab Kumar Deb shared national statistics, which revealed the widespread success of PMMY. He said, “Nationally, a remarkable total of Rs 24,34,764 crore was distributed among 42,20,18,879 beneficiaries from April 2015 to June 2023. These statistics were officially presented in the Rajya Sabha on July 25th, based on data reported by member lending institutions (MLIs) on the Mudra portal.”