Support to Street Vendors, Empowers Millions of Families
New Delhi: Union Minister for Housing and Urban Affairs, Manohar Lal, said that the PM SVANidhi Scheme has emerged as an effective instrument of financial inclusion and social security for street vendors across the country. Under the scheme, millions of vendors have benefited from collateral-free loans, digital payment facilities, and access to various social welfare programmes.
The Minister stated that more than 5.5 million vendors have been integrated into the digital economy so far, while over 5 million families have been linked with different government welfare schemes. The scheme has led to an average 20 percent increase in beneficiaries’ income, and nearly 95 percent of the vendors received formal institutional credit for the first time.
Highlighting the inclusive nature of the initiative, he noted that women account for nearly 46 percent of the total beneficiaries. Encouraged by the positive impact of the programme, the Central Government has decided to extend the PM SVANidhi Scheme until March 2030.
Expressing confidence in the scheme’s future role, the Minister said that PM SVANidhi will continue to strengthen the livelihoods of millions of street vendors and contribute significantly to the vision of a developed India in the years ahead.
