PM Modi interacts with Mudra Yojana beneficiaries: ' Scheme protected entrepreneurs from the vicious cycle of 'sahukars' and middlemen' - watsupptoday.com
PM Modi interacts with Mudra Yojana beneficiaries: ' Scheme protected entrepreneurs from the vicious cycle of 'sahukars' and middlemen'
Posted 29 May 2018 12:11 PM

Agencies
Prime Minister Narendra Modi interacted with crores of beneficiaries of Mudra Yojana, government's scheme of funding the unfunded, via teleconferencing on Tuesday.

Prime Minister Narendra Modi said that banks and financial institutions have given Rs 6 lakh crore to 12 crore beneficiaries, while adding that the Mudra Yojana has broken the "vicious cycle" of moneylenders and middlemen who used to control an entrepreneur's dream.
"Out of the 12 crore beneficiaries, 28 per cent or 3.25 crore are first-time entrepreneurs," he said. The PM also said that 74 per cent, or 9 crore, borrowers are women and 55 per cent belong to the SC/ST and OBC category.

"Mudra yojana has protected the interests of entrepreneurs by relieving them from the vicious cycle of 'sahukars' and middlemen," PM Modi said.

"This vicious cycle had to be broken and someone had to do that. We did it, we broke it," he said and added that such schemes were never planned by the previous governments as they only focussed on 'vote bank' politics.

PM Modi said the scheme was started to promote youngsters, women, business-minded people. "We prepared a product for those who wanted to do something," Modi said.

Leave a comment: (Your email will not be published)