Union Textiles Minister Giriraj Singh on Monday, June 1, 2026, shared a report highlighting the reach of the PM SVANidhi scheme, stating that the Modi government's micro-credit programme has brought about a change in the lives of more than 75 lakh street vendors across the country.

Context

Posting via the NaMo App, Singh shared a link to a report with the caption: 'मोदी सरकार की PM SVANidhi योजना बनी सहारा, 75 लाख से अधिक स्ट्रीट वेंडर्स के जीवन में आया बदलाव' — translated as 'PM SVANidhi scheme of the Modi government becomes a support, change comes in the lives of more than 75 lakh street vendors.' The post amplifies a narrative around the scheme's social impact ahead of what the government has positioned as a landmark in urban poverty alleviation.

The PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) scheme was launched in June 2020 under the Atmanirbhar Bharat stimulus package to provide collateral-free working capital loans of up to Rs 10,000 to urban street vendors who had lost livelihoods during the COVID-19 lockdowns. The scheme is administered by the Ministry of Housing and Urban Affairs through urban local bodies and partner lending institutions.

Policy Backdrop

PM SVANidhi was subsequently integrated with the broader PM Mudra Yojana framework and expanded in 2021-22 to include higher loan tranches and capacity-building modules for beneficiaries. The scheme also incorporated digital on-boarding components, linking vendors to formal banking and payment infrastructure for the first time.

The intervention sits within a wider policy arc — stretching back to the Jan Dhan Yojana and Mudra loans — aimed at bringing India's large informal-sector workforce into the formal credit system. Convergence with state municipal bodies and fintech partners has been central to the scheme's rapid roll-out across urban centres. India's urban street vendor population is estimated at over one crore, making them a significant constituency for last-mile financial inclusion efforts.

Stakeholders and Impact

Street vendors — selling vegetables, fruits, prepared food, and daily-use goods from pushcarts and fixed stalls — form the core beneficiary group. Access to collateral-free credit has allowed many to restock inventory, avoid predatory moneylenders, and begin building a formal credit history. Urban local bodies across states have served as the primary on-boarding and certification agencies under the scheme.

The scheme's digital dimension has also drawn attention: vendors who repay on time and adopt digital payments are eligible for enhanced loan tranches in subsequent cycles, creating an incentive structure designed to deepen financial inclusion over multiple years. The figure of 75 lakh-plus beneficiaries, as cited in the post, reflects the scale at which the programme has reportedly been implemented, though updated official data is expected in the next quarterly review by the Ministry of Housing and Urban Affairs.

What's Next

The government's focus on SVANidhi is expected to intensify as the Ministry of Housing and Urban Affairs prepares its next quarterly beneficiary and repayment data review. State-level expansion announcements during upcoming budget sessions could further widen the scheme's footprint.

As a senior BJP leader and Lok Sabha MP from Begusarai, Bihar, Singh's amplification of welfare scheme milestones signals the party's continued emphasis on urban informal-sector outreach as a political and policy priority ahead of future electoral cycles.