Rs 13,422 Crore Disbursed to Street Vendors Under PM SVANidhi Scheme, Says Housing Ministry

The Union Ministry of Housing and Urban Affairs has disbursed a total of Rs 13,422 crore through 94.3 lakh loans to street vendors under the Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme, as of December 8, 2024. This information was shared by the Minister of State for Housing and Urban Affairs, Tokhan Sahu, in a written response to a question in the Rajya Sabha on Monday.

Launched in 2020 amidst the challenges posed by the COVID-19 pandemic, the PM SVANidhi scheme aims to provide financial support to urban street vendors, offering collateral-free loans of up to Rs 50,000. The scheme was designed to help these vendors revive their businesses, many of which were severely impacted by the pandemic’s economic disruptions. As of now, beneficiaries have repaid Rs 40.3 lakh of these loans.

Minister Tokhan Sahu also reassured that no fraud-related complaints have been received concerning any agencies or companies involved in the disbursement process, highlighting the transparency of the initiative.

The scheme’s performance is assessed based on different categories, such as large states, hilly and northeastern states, and small states/Union territories. Each state is assigned specific disbursement targets, and their progress is evaluated accordingly.

In a significant achievement, Madhya Pradesh was recognized as the ‘Best Performing State’ for its exemplary execution of the scheme. Assam, too, received accolades, ranking second in the ‘Best Performing State – Innovation and Best Practices Award’ category for its exceptional efforts in implementing PM SVANidhi.

The scheme continues to be a crucial tool for empowering urban street vendors, helping them sustain and expand their businesses while contributing to the broader goal of economic recovery and growth in the wake of the pandemic.