TIL Desk/National/New Delhi/ Prime Minister Narendra Modi on Tuesday interacting with the beneficiaries of the Pradhan Mantri Mudra Yojana (PMMY) said the scheme has broken the “vicious cycle” of moneylenders and middlemen who used to control an entrepreneur’s dream.
“Mudra yojana has protected the interests of entrepreneurs by relieving them from the vicious cycle of ‘sahukars’ and middlemen,” Modi said while interacting with the beneficiaries of the Mudra scheme through video conferencing on the Narendra Modi App.
“This vicious cycle had to be broken and someone had to do that. We did it, we broke it,” he added. The Prime Minister said the scheme was started to promote youngsters, women, business minded people. It was never planned by his predecessors as they stressed on “vote bank politics”, he added.
“We prepared a product for those who wanted to do something,” Modi said.The Prime Minister said earlier people without connections were unable to get loans and were either forced to wait or migrate to big cities in search of jobs. “Mudra Yojana has opened up new avenues for youth, women and those who want to start or expand their businesses. Not only this, Mudra Yojana is also acting as a job multiplier,” he added.
