September 17 (IANS) in Balrampur district of Balrampur, Chhattisgarh (IANS), Pradhan Mantra Mudra Yojana (PMMY) is changing life and is strengthening local entrepreneurs to increase new heights. On the occasion of Prime Minister Narendra Modi’s birthday, two small business owners, Vinesh Pal and Amit Kesar, on Wednesday shared stories of my inspirational success and expressed their heartfelt gratitude to start a plan, which re -defined their livelihood.
Pal, a footwear manufacturer from Ramanujganj, was making a small scale business and selling shoes and slippers. However, limited financial resources stopped their business from growing. He changed when he came beyond the PM Mudra Yojana. He applied for a loan in India of India and received Rs 5 lakh without any collateral.
With loan, he bought new machinery, quality raw materials, and expanded his inventory. Today, their business is taking place – not only in Ramanujganj but also in nearby cities and villages. He has also created employment for four local youth, who have become a source of inspiration for others in the community.
Thanking Prime Minister Modi, Pal said: “Mudra Yojana is a blessing for small businesses like me. It has given me the strength to dream and get financial freedom. I encourage other youth to find out such government schemes and build my future with courage and hard work. I want to wish PM Modi on my birthday.”
Similarly, Kesari, who had been repairing the bicycle for years, also converted his small shop into a rich business. Thanks to a loan of Rs 7 lakh under the same scheme, he bought new bicycles, spare parts and modern repair equipment, which led to a significant increase in both his services and income.
Kesari now appoints two full -time workers and is optimistic about expanding further.
“Earlier, I could only make basic repair due to lack of equipment and resources. But after receiving the currency loan, I upgraded my entire setup. Now, customers from other villages are also coming to my shop,” he said.
Wishing PM Modi on his 75th birthday, Kesari said: “Under the leadership of PM Modi ji, the owners of small businesses like me are no longer struggling. We are moving forward with confidence. I thank him from under my heart for this occasion.”
PMmy was launched by Prime Minister Modi on 8 April 2015, celebrating 10 spectacular years of empowering small and micro entrepreneurs across India. For the purpose of promoting financial inclusion, it provides easy collateral-free loans up to Rs 10 lakh for non-corporate and non-agricultural income-generating activities. To strengthen support for aspiring entrepreneurs, Finance Minister Nirmala Sitarman announced an increase of Rs 20 lakh in the loan limit on July 23, 2024 during the Union Budget 2024-25. The new border came into effect on October 24, 2024. These loans have been increased through banks, NBFCs, MFIS and other financial institutions.
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