{"id":34231,"date":"2023-04-04T11:41:41","date_gmt":"2023-04-04T06:11:41","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=34231"},"modified":"2025-04-20T10:11:34","modified_gmt":"2025-04-20T04:41:34","slug":"pradhan-mantri-street-vendors-atmanirbhar-nidhi-pm-svanidhi-scheme","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/pradhan-mantri-street-vendors-atmanirbhar-nidhi-pm-svanidhi-scheme\/","title":{"rendered":"Pradhan Mantri Street Vendor\u2019s AtmaNirbhar Nidhi (PM SVANidhi) Scheme"},"content":{"rendered":"<h3><strong>What\u2019s in today\u2019s article?<\/strong><\/h3>\n<ul>\n<li><strong>Why in News?<\/strong><\/li>\n<li><strong>About PM Street Vendor\u2019s AtmaNirbhar Nidhi (PM SVANidhi) Scheme<\/strong><\/li>\n<li><strong>Need for the PM SVANidhi Scheme<\/strong><\/li>\n<li><strong>Eligibility for PM SVANidhi Scheme<\/strong><\/li>\n<li><strong>Benefits of PM SVANidhi Scheme<\/strong><\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><\/p>\n<h2><strong>Why in News?<\/strong><\/h2>\n<ul>\n<li>A total of 42.7 lakh loans amounting to approximately <strong>Rs. 5100 crore<\/strong> had been disbursed to street vendors under the PM SVANidhi scheme.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><strong>About PM Street Vendor\u2019s AtmaNirbhar Nidhi (PM SVANidhi) Scheme<\/strong><\/h2>\n<ul>\n<li>The PM SVANidhi scheme was launched by the Government of India in <strong>June, 2020<\/strong>.<\/li>\n<li><strong>Objective \u2013<\/strong>\n<ul>\n<li>To empower Street Vendors by not only extending loans to them, but also for their holistic development and economic upliftment.<\/li>\n<\/ul>\n<\/li>\n<li>The scheme intends to facilitate <i><strong><u>collateral free working capital loans of up to Rs.10,000\/- of one-year tenure, to approximately 50 lakh street vendors<\/u><\/strong><\/i>.<\/li>\n<li><strong>Nodal Ministry<\/strong> \u2013 Ministry of Housing and Urban Affairs<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><strong>Need for the PM SVANidhi Scheme<\/strong><\/h2>\n<ul>\n<li>The <strong>Covid-19 pandemic<\/strong> and the nationwide <strong>lockdown<\/strong> left daily wage workers and street vendors out of work.<\/li>\n<li>The scheme aims at <i><strong>aiding the vendors at getting back on their feet financially<\/strong><\/i>.<\/li>\n<li>In the long term, it aims at establishing a credit score for the vendors as well as creating a digital record of their socio-economic status, so that they can avail the Central government schemes later.<\/li>\n<li>The scheme also <i><strong>attempts to formalise the informal sector of the economy and provide them safety nets and a means of availing loans in the future<\/strong><\/i>.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><strong>Eligibility for PM SVANidhi Scheme<\/strong><\/h2>\n<ul>\n<li><i><strong>The Scheme is available to all street vendors engaged in vending in urban areas.<\/strong><\/i><\/li>\n<li>As per the <strong><u>Street Vendors Act, 2014<\/u><\/strong>, the Town Vending Committees (which comprises the local authorities and vendors from an area) issue a certificate of vending after a survey has been conducted of all the vendors.<\/li>\n<li>But since many states and cities have not conducted the survey yet, the urban local bodies \u2013 in this case, the municipalities \u2013 shall provide a <strong>Letter of Recommendation<\/strong> for every vendor who wishes to avail the loan.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><strong>Benefits of PM SVANidhi Scheme<\/strong><\/h2>\n<ul>\n<li>The PM SVANidhi scheme offers incentives in the form of \u2013\n<ul>\n<li><i><strong>Interest subsidy at 7% per annum<\/strong><\/i> on regular repayment of loan;<\/li>\n<li><i><strong>Cashback up to Rs.1200\/- per annum<\/strong><\/i> on undertaking prescribed digital transactions;<\/li>\n<li>Eligibility for enhanced next tranche of loans.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<hr \/>\n<h3><strong>Q1) Is PM SVANidhi centrally sponsored scheme?<\/strong><\/h3>\n<p>It is a central sector scheme launched in June 2020. It aims to provide micro-credit facilities to street vendors affected due to Covid-19 pandemic.<\/p>\n<h3>\u00a0<\/h3>\n<h3><strong>Q2)<\/strong> <strong>What is the objective of HRIDAY: Heritage City Development &amp; Augmentation Yojana?<\/strong><\/h3>\n<p>The main objective of HRIDAY is to preserve character of the soul of heritage city and facilitate inclusive heritage linked urban development by exploring various avenues including involving private sector.<\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><strong>Source:\u00a0<\/strong><a href=\"https:\/\/www.thehindu.com\/news\/national\/only-93-of-loans-under-scheme-for-street-vendors-given-to-those-from-minority-communities-govt-data\/article66695306.ece\" target=\"_blank\" rel=\"nofollow noopener\"><u>Pradhan Mantri Street Vendor\u2019s AtmaNirbhar Nidhi (PM SVANidhi) Scheme<\/u><\/a>\u00a0|\u00a0<a href=\"https:\/\/pmsvanidhi.mohua.gov.in\/\" target=\"_blank\" rel=\"nofollow noopener\"><u>pmsvanidhi.mohua.gov.in<\/u><\/a> \u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PM SVANidhi Scheme aims at getting the street vendors back on their feet financially.<\/p>\n","protected":false},"author":5,"featured_media":34232,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18],"tags":[],"class_list":{"0":"post-34231","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-mains-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/34231","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=34231"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/34231\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/34232"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=34231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=34231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=34231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}