Govt Supported Eight Crore Youth For Self-Employment: PM

Prime Minister Narendra Modi on Tuesday said that the government has helped eight crore youth to establish their own business by granting 20 lakh crore under Pradhan Mantri Mudra Yojana.

Addressing from the ramparts of Red Fort on the 77th Independence Day, Prime Minister Narendra Modi said, “INR 20 lakh crore have been given to the youth for self-employment for their occupation. Eight crore people have started new business and not only that, every businessman has given employment to one or two people. Therefore, 8 crore citizens benefitting from the (Pradhan Mantri) Mudra Yojana have the ability to provide employment to 8-10 crore new people.”

He also attributed the rise of India from 10th to 5th  largest economy in the world to the efforts of 140 crore people of India. He said this has happened because this government stopped leakages, created a strong economy, and spent maximum money for the welfare of the poor.

“Today I want to tell the people that when the country becomes economically prosperous, it does not fill the treasury; it increases capacity of the nation and its peoples. Results will automatically come if the government pledges to spend every penny towards the welfare of its citizens. 10 years ago, the government of India used to send INR 30 lakh crore to the states. In the last nine years, this figure has reached INR 100 lakh crore. Seeing these numbers, you will feel that such big transformation has happened with big increase in capacity,” he said.

Referring to COVID-19 Pandemic, Modi said, “MSMEs were not allowed to go bankrupt with the help of loans worth INR 3.5 lakh crore in the crisis of Corona virus. They were not allowed to die, they were given strength.”

Additionally, the Prime Minister said, “When the (exemption) limit of income tax is increased from INR 2 lakh to INR 7 lakh, then the biggest benefit is to the salaried class, especially to the middle class.”

Referring to the recent problems faced by the world collectively, he said, “The world has not yet emerged from COVID-19 pandemic, and the war created a new problem. Today, the world is facing the crisis of inflation.”

Talking about fighting inflation, he said, “India has tried its best to control inflation. We cannot think that our things are better than the world, I have to take more steps in this direction to minimise the burden of inflation on my countrymen. My efforts will continue to tame inflation.”