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Home » PM SVANidhi Yojana: Micro loan facility of Rs 3,000 to Rs 5,000 to street vendors

PM SVANidhi Yojana: Micro loan facility of Rs 3,000 to Rs 5,000 to street vendors

PM SVANidhi Yojana Micro loan facility of Rs 3,000 to Rs 5,000 to street vendors

PM Svanidhi Yojana: Union IT and Telecom Minister Ashwini Vaishnav has said at the Digital India Awards ceremony that in the year 2023, with the help of digital technologies, the government will lay special emphasis on providing micro loan facility of Rs 3,000 to 5,000 to street vendors. This is a good news for small businessmen like street vendors. This will help small traders like street vendors to some extent and they will be able to focus more on their business.

Ashwini Vaishnav said that Prime Minister Narendra Modi has allocated around Rs 52,000 crore to provide 4G and 5G telecommunication services to all parts of the country to digitally connect every citizen. He further said that the country will see the implementation of indigenously developed 4G and 5G technologies this year. At present, the trial of 5G is going on in 5 cities like Mumbai, Bengaluru.

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He said that according to the vision of Prime Minister Modi to make India self-reliant in the technology sector, an electronic chip manufacturing plant will be established very soon in the country. He has shared information about many other fin-tech projects.

Government will emphasize on providing micro credit facility to street vendors in 2023 Ashwini Vaishnav said, In 2023, special attention will be given to providing micro credit facility in a simple way to meet the needs of small loans of Rs 3,000 to 5,000 for street vendors will be given.

PM Svanidhi Yojana:

The PM Street Vendors Self-Reliant Fund was launched in June 2020. Pradhan Mantri Street Vendors Atmanirbhar Nidhi (SVANidhi) scheme was launched in June 2020 as a micro credit facility. The objective of this scheme is to compensate the loss caused to the street vendors due to the Kovid-19 pandemic and to empower them. The government has a target of giving benefits under this scheme to 42 lakh street vendors by December 2024.

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