Under the PM SVANidhi (Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi) scheme, people earning their livelihood by running street carts and roadside stalls in cities are being provided loans at affordable rates. This scheme has provided financial support to small traders. The scheme has proved beneficial for those who support their families by selling goods along roadsides in urban areas.
This ambitious scheme of Prime Minister Narendra Modi has given millions of street vendors and hawkers an opportunity to become self-reliant. Under the scheme, small traders and vendors are provided loans without the need for any major collateral, enabling them to start or expand their businesses.
In Uttarakhand’s border district of Chamoli as well, the PM SVANidhi Scheme has led to a positive impact. In this remote district, more than 600 people have been able to earn their livelihoods by availing benefits under the scheme.
After the COVID-19 pandemic, when employment opportunities became limited, the scheme emerged as a new ray of hope for street vendors. Beneficiaries say that they were identified by the municipal body and given access to the scheme, which not only improved their financial condition but also helped them earn better income than before.
Beneficiaries from Chamoli district told IANS that the PM SVANidhi Scheme has brought a major change in their lives. With the help of the municipal body, they received information about the scheme and completed the application process. They were then provided loans on time, helping them stand on their feet again.
Expressing gratitude to the central government, the beneficiaries said that the government understood the pain of the poor and needy and launched this scheme to empower them financially. Today, they are not only happy but are also earning a livelihood with dignity.
Beneficiary Birendra Singh Rana, while speaking to IANS, said that he received information about the loan under the PM SVANidhi Scheme from the municipal body. After that, he applied at the municipal office, submitted the required documents, and his loan was approved. He said that with the help of this loan, he started a tea shop, which now provides him with a regular income.
Birendra Singh Rana added that the scheme is extremely beneficial for unemployed youth, as it allows them to easily take a loan and start a small business. He thanked the central government for the scheme and described it as very useful for common people.
Another beneficiary, Anil Singh Rana, also praised the PM SVANidhi Scheme, calling it a major step toward making youth self-reliant.
