How Are Vendors in Uttarakhand's Chamoli Benefiting from the PM SVANidhi Scheme?
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Synopsis
Street vendors in Uttarakhand's Chamoli district are thriving, thanks to the PM SVANidhi scheme initiated by PM Modi. This program has not only provided financial support but has also transformed their lives, enabling them to rebuild their businesses post-COVID-19. Discover how this initiative is empowering local vendors.
Key Takeaways
- PM SVANidhi scheme supports street vendors financially.
- Over 600 beneficiaries in Chamoli have benefited.
- Loans up to Rs 50,000 are available for vendors.
- The scheme aims for collateral-free loans.
- It fosters a sense of identity for street vendors.
Dehradun, Dec 29 (NationPress) Street vendors in Chamoli district of Uttarakhand are experiencing remarkable success, thanks to the financial support extended by the Central government through the PM Street Vendors AtmaNirbhar Nidhi (PM SVANidhi scheme), which launched five years ago.
Many individuals benefiting from the scheme have expressed their gratitude to Prime Minister Narendra Modi for initiating a program tailored specifically for vendors, leading to a transformative change in their lives.
As per official data, over 600 beneficiaries in Chamoli have reaped the advantages of the PM SVANidhi scheme to date.
Numerous beneficiaries have shared that they saw significant improvements following the COVID-19 pandemic. They were recognized by the municipality, which enabled them to access the benefits of this initiative.
This has led to improvements in their financial conditions, allowing them to earn a decent income.
One of the beneficiaries, Pushkar Singh, stated to IANS, "I received the PM SVANidhi assistance from the municipal authorities. It was timely, and I received proper guidance, significantly enhancing my livelihood..."
He further remarked, "The government-funded scheme is excellent. Everyone should take advantage of it. It has allowed us to operate our businesses effectively."
Initiated in June 2020, the PM SVANidhi scheme was designed to help street vendors recover from the financial challenges and restart their lost businesses due to the pandemic.
However, the scheme has proven to be more than just financial aid; it has provided vendors with a sense of identity and formal acknowledgment of their contributions to the economy.
The main objective of this initiative is to provide collateral-free working capital loans to street vendors to help them revive their businesses, which faced challenges during the COVID-19 pandemic.
A working capital loan of up to Rs 10,000 was introduced, with provisions for a second loan of up to Rs 20,000 and a third loan of up to Rs 50,000 for those needing increased support.
Point of View
It’s essential to acknowledge the profound impact of the PM SVANidhi scheme on street vendors in Uttarakhand. This initiative not only provides financial assistance but also fosters a sense of identity and recognition for vendors who contribute significantly to the economy. Such programs are vital for reviving local businesses and supporting the livelihoods of countless individuals.
NationPress
31/12/2025
Frequently Asked Questions
What is the PM SVANidhi scheme?
The PM SVANidhi scheme is a government initiative designed to provide financial support to street vendors to help them restart their businesses after the adverse effects of the COVID-19 pandemic.
How much can vendors borrow under the PM SVANidhi scheme?
Vendors can initially borrow up to Rs 10,000, with options for subsequent loans of Rs 20,000 and Rs 50,000 based on their business needs.
Who is eligible for the PM SVANidhi scheme?
Street vendors who were adversely affected by the pandemic and are registered with municipal authorities are eligible for the scheme.
How has the PM SVANidhi scheme impacted vendors?
The scheme has significantly improved the financial situations of many vendors, allowing them to sustain and grow their businesses.
When was the PM SVANidhi scheme launched?
The PM SVANidhi scheme was launched in June 2020.
