Agartala, August 29, 2023: The Pradhan Mantri Mudra Yojana (PMMY), a flagship program designed to foster self-reliant entrepreneurs among the youth, has injected new life into India’s micro-credit landscape during its eight years of operation. In a remarkable display of ambition, a staggering 1,37,83,400 residents across eight northeastern states have harnessed the program’s benefits, receiving loans totaling an impressive Rs 74,812 crore between April 2015 and June 2023.
Former Chief Minister of Tripura and current Rajya Sabha MP, Biplab Kumar Deb, proudly announced these developments during a press conference on Tuesday. He revealed that Tripura now stands as the second-largest beneficiary state in the northeastern region after Assam, in terms of the number of beneficiaries and the loan amount disbursed under PMMY during the aforementioned period.
Deb provided a detailed breakdown of the program’s impact across the northeastern states: Assam emerged as the frontrunner, with loans amounting to Rs 50,778 crore disbursed among 1,00,13,161 beneficiaries. Tripura followed closely, boasting 2,630,679 beneficiaries who received loans worth Rs 13,517 crore. Manipur recorded Rs 2,662 crore disbursed among 4,42,002 beneficiaries. Meghalaya witnessed loans of Rs 2,153 crore benefiting 2,39,027 individuals. Mizoram experienced loans totaling Rs 1,798 crore reaching 1,15,733 beneficiaries. Nagaland reported loans amounting to Rs 1,559 crore benefiting 1,15,749 individuals. Arunachal Pradesh received Rs 1,077 crore in loans, distributed among 90,262 beneficiaries.
Collectively, these numbers reveal the substantial impact of PMMY on the northeastern states, driving economic empowerment and self-reliance among the region’s residents.
Biplab Kumar Deb also shared nationwide statistics, highlighting the far-reaching success of the PMMY program. Across the country, a grand total of Rs 24,34,764 crore was disbursed among 42,20,18,879 beneficiaries under PMMY since April 2015 to June 2023. This information was officially presented in the Rajya Sabha on July 25th, based on data uploaded by member lending institutions (MLIs) on the Mudra portal.
The Pradhan Mantri Mudra Yojana continues to be a driving force behind the growth of India’s micro-credit ecosystem, particularly in the northeastern states, fostering entrepreneurship and financial independence among the region’s youth.