Prime Minister

31 March 2015

My Dear Small Business Brothers and Sisters

Vegetable sellers, milkmen, grocers, washermen, newspaperwallahs, weavers, artisans, flower-sellers and so on- you all are the backbone of our nation. The strength you give to the economy is one of its most overlooked secrets. While many think that large companies dominate, in reality, it is over five and a half crore small units like yours, which drive our economy through small manufacturing, trading and service businesses. Furthermore, you provide employment to 11-12 crore people, the majority of whom are SCs, STs, OBCs and minorities. India thus depends on you for its growth, jobs and prosperity.

budget for small businessmen taxguruIf your hands are strengthened, I am confident you will take the nation to even greater heights. You should be able to run your business easily – not be harassed by officials, get loans for your day-to-day activities, material for your operations and markets for your products. You should be protected from any financial crisis and feel secure about your future. If this is done, you will be strong enough to lift the nation up.

With this in mind, my government has come up with a number of initiatives to help you. Several schemes have been rolled out over the past year, while many more have been announced in this years’ budget.

Business Related
I am aware of how difficult it is for you to get loans, and the high interest rates you have to pay for the same.l can feel your distress when the existing banking system is not of much help. We are thus setting up the MUDRA (Micro Units Development Refinance Agency) Bank to ensure that you get loans at an affordable rate, with minimal paperwork. It will run a Pradhan Mantri Mudra Yojana, which will give priority to SC/ST enterprises. Moreover, all of you will have gotten bank accounts through the Pradhan Mantri Jan Dhan Yojana.You will now also be able to get loans up to Rs 5,000 from these accounts for your business needs.

Irregular and costly power hits you the worst in running your business. We are helping State governments separate rural agricultural supply through the Deen Dayal Upadhyaya GramJyoti Yojana,to ensure you get 24×7 power.

I know that the times are changing. As your children grow up, their thoughts and aspirations are very different from yours. They want to take more risks, be more innovative. They want to use newer technologies. This can be a risky matter. For them, we are setting up the SETU (Self-Employment and Talent Utilisation) mechanism to support all aspects of a start-up business, from credit to incubation. AIM (Atal lnnovation Mission) has also been established, to promote a network of world-class innovation hubs for those wanting to get into cutting-edge R&D.

India’s family structure is such that people worry more about their family than themselves. We have thus set up mechanisms to assist those of you who wish to secure your family’s well-being, in case anything happens to you. The Pradhan Mantri Suraksha Bima Yojana provides you an accident insurance of Rs 2 lakhs at a mere Rs 1 per month premium.The Pradhan Mantri Jeevan Jyoti Bima Yojana a life insurance of Rs 21akhs at Rs 1 per day premium

Having always heard about government servants getting pension after retirement, we would have often worried about our own old age. Who would look after us? How would we manage financially? For this we have come up with the Atal Pension Yojana, which will give you a pension of Rs 5,000 per month after you are 60, by saving just Rs 250 per month from a young age. In addition, your children will inherit up to Rs 8.5 lakhs when you are no more.

All the above schemes and programs announced in the budget, will be rolled out in the near future. I urge you to take full advantage ofthe same. On the whole, we Indians are a proud, self-made people. We live with dignity and self-respect, and stand on our own feet even in the worst of times. lf we are given wings, we will fly. I am thus committed to empowering you to do so and I am confident you can, and you will!

I wish you the very best!

Jai Hind!

Narendra Modi  (Source-

Also Read-

PM Letter to Senior Citizens on Budget 2015

PM Letter to Industrial Workers on Budget 2015

PM Letter to youth of the country on Budget 2015

PM Letter to Farmers on Budget 2015

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  1. advocate jasbir singh says:

    sir this is greatest social security schemes ie Pardhan Mandtri Suraksha Bima Jojana and Jeewan Bima Jojna. sir Indian people needs these schemes , modi ji you have taken great step towards this , in my opinion big fund will be raised by people themself to secure themself

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