India, April 14 -- Pradhan Mantri MUDRA Yojana (PMMY) is seeding an ecosystem of empowered and economically active women in India, according to an expert.

In a media report, Aditya Sinha, OSD, Research at Economic Advisory Council to the Prime Minister, stated how the PMMY is empowering women-led growth in the country.

The scheme enables access to collateral-free credit for micro and nano enterprises.

"More than a financing scheme, PMMY reconfigures the social contract between the state and the citizen by recognising the poor, especially women, as latent entrepreneurs rather than passive welfare subjects," Sinha said.

A combination of institutional, cultural, and informational asymmetries has previously stunted the long-run growth p...