PM SVANidhi Scheme Disbursed Rs 9,790 Cr Loans to Street Vendors
The PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme, launched during the COVID-19 outbreak, has emerged as a crucial initiative in supporting urban street vendors. The scheme, designed as a micro-credit program, has disbursed an impressive total of Rs 9,790 crore in loans to beneficiaries, as disclosed by the government in the Rajya Sabha on Monday.
As of December 5, 2023, the government has disbursed loans in a phased manner. The fiscal year-wise breakdown reveals the following:
| Fiscal Year | Loan Disbursement (in Rs crore) |
|---|---|
| 2020-21 | 2,039 |
| 2021-22 | 1,248 |
| 2022-23 | 1,866 |
| 2023-24 (up to Dec 5) | 4,637 |
These figures cumulatively amount to Rs 9,790 crore, indicating the significant impact of the PM SVANidhi scheme.
The number of street vendor beneficiaries has seen a steady increase, reaching 56,58,744 as of December 5, 2023. Union Minister Hardeep Singh Puri noted that this number is continually rising, reflecting the scheme’s ongoing success in reaching and supporting a growing number of urban street vendors.
The PM SVANidhi Scheme employs various criteria to identify eligible vendors. This ensures that the benefits are extended to those who need them the most, contributing to the overall success and impact of the initiative.
Q: What is the primary objective of the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme?
Answer: The scheme aims to provide collateral-free working capital loans to urban street vendors during the COVID-19 outbreak.
Q: What is the eligibility criterion for street vendors under the PM SVANidhi Scheme?
Answer: All street vendors in urban areas are eligible for benefits, regardless of the date on which they started vending.
Q. Who is responsible for overseeing the PM SVANidhi scheme?
Answer: Union Housing and Urban Affairs Minister Hardeep Singh Puri is responsible for the scheme.
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