MUDRA Yojana success stories bust the myths sold by naysayers and critics

MUDRA scheme of the Modi government has been one of the most successful schemes which have created positive change in lives of common people. The Finance Minister had mentioned the importance of MUDRA yojana in his budget speech. He had set up a target of rupees 3 lakh crore for the 2018-19 financial year. He had said :

MUDRA Yojana launched in April 2015 has led to sanction of loans of rupees 4.6 lakh crores of credit to some 10.38 crore MUDRA loans. 76% of loan accounts are of women and more than 50% of them belong to SC, ST and OBCs. It is proposed to set up a target of rupees 3 lakh crore for lending in 2018-19.

The ground level success stories of this scheme are largely unknown. The twitter user Hari (@Harisaraswat_) tweeted some of these stories. These stories are cited from the website mudra.org.in.  The thread speaks of many individuals who set up provision stores (Kirana stores) or retails stores with microfinance obtained from MUDRA yojana.

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One of the success stories tweeted by Hari was that of Ratna Deb. A resident of Assam, Deb opened a bakery to supplement her family income with assistance from the MUDRA scheme. Ratna Deb now earns a profit of about 15,000 from her new venture after paying her bank dues.

A carpenter praised the MUDRA yojana on CNBC TV and called it an easy loan scheme. He was a daily wage earner but now employs three other persons. He praised the Prime Minister for launching this scheme for small businessmen.

A vegetable seller from Kolkata also expressed gratitude for the benefits accrued from MUDRA scheme. She said her income rose from 6,000/ 7,000 to 10,000/ 12,000 per month. She also said that she could help her husband to open a tea stall after securing the MUDRA loan.

Another tailor Daya Rani from Dolatabad expressed joy about the MUDRA scheme. The tailor said that when she did not have enough funds to run her business. After securing a MUDRA loan, she said that she got necessary funds. Daya Rani said that now she felt she is not alone and the government stands with her.

These stories a tight slap to all wine sipping dolt economists who are relying on their ‘past experience’ and hatred for Narendra Modi to write off the MUDRA yojana as a failure.

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