How has PM SVANidhi Empowered Small Traders?
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Synopsis
The PM SVANidhi scheme has become a beacon of hope for small traders, demonstrating the government's unwavering commitment to uplift the underprivileged. Union Minister Sarbananda Sonowal highlights its transformative impact during a recent public event in Dibrugarh, emphasizing the importance of self-reliance and financial empowerment.
Key Takeaways
- PM SVANidhi scheme empowers small traders and street vendors.
- The initiative promotes self-reliance and dignity for beneficiaries.
- Financial assistance is provided in three phases with interest subsidies.
- It addresses challenges faced during the Covid-19 pandemic.
- Government commitment ensures aid reaches intended recipients.
New Delhi, Aug 31 (NationPress) Union Minister of Ports, Shipping and Waterways (MoPSW) Sarbananda Sonowal expressed that Prime Minister Narendra Modi has demonstrated through the effective execution of the PM SVANidhi scheme that he is dedicated to uplifting the underprivileged.
Minister Sonowal, representing the Dibrugarh Lok Sabha constituency, participated in a public event focused on the Prime Minister’s Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme at the Auniati Satra branch on Mankota Road, Dibrugarh.
This gathering was collaboratively organized by the Dibrugarh District administration and the Dibrugarh Municipal Corporation. During the event, the Union Minister engaged with numerous beneficiaries of the scheme, as stated by the Ministry of Ports, Shipping and Waterways on Sunday.
“The fundamental aim of the PM SVANidhi scheme is achieving self-sufficiency. This initiative allows individuals to support their families with pride. Prime Minister Modi conceived this strength and established the scheme to financially empower the impoverished and marginalized,” Sarbananda Sonowal articulated during his speech.
Reflecting on the challenges encountered during the Covid-19 pandemic, Sonowal remarked: “As small businesses and street vendors faced crippling restrictions, Prime Minister Modi introduced this scheme to offer relief. It mandated banks to provide loans to vendors in three phases — beginning with ₹10,000, followed by ₹20,000 and ₹50,000 for timely repayments. Furthermore, successful borrowers received a 7% interest subsidy.”
Sonowal emphasized that the repayment structure was pivotal in aiding many small traders to thrive.
In a critique of the Congress party, Sonowal stated that it failed to ensure welfare during its 55 years in office. “Shri Rajiv Gandhi acknowledged that out of every rupee sent by the government, 84 paise was lost to middlemen. However, Prime Minister Modi has made certain that every rupee reaches those in need. His policies are rooted in the principles of ‘Sabka Saath, Sabka Vikas, Sabka Vishwas, Sabka Prayas,’” the Union Minister remarked.
Later that day, Sonowal inaugurated a Pradhan Mantri Bharatiya Janaushadhi Kendra at Milan Nagar in Dibrugarh, aimed at making affordable generic medicines accessible to the public, as per the statement.
Point of View
It is crucial to recognize the transformative impact of the PM SVANidhi scheme on small traders. The commitment shown by the government under PM Modi's leadership reflects a significant shift towards empowering marginalized communities. Ensuring that financial aid reaches the intended beneficiaries is vital for fostering economic growth and social equity across the nation.
NationPress
31/08/2025
Frequently Asked Questions
What is the PM SVANidhi scheme?
The PM SVANidhi scheme is a government initiative aimed at providing financial support to street vendors to enhance their earning capacity and promote self-reliance.
Who benefits from the PM SVANidhi initiative?
The scheme primarily benefits small traders and street vendors who faced significant challenges during the Covid-19 pandemic.
How does the loan repayment mechanism work?
The repayment structure allows vendors to access loans in three phases: ₹10,000, ₹20,000, and ₹50,000, with a 7% interest subsidy for timely repayments.
Why is this scheme important?
PM SVANidhi is crucial as it helps empower financially marginalized individuals, offering them dignity and a means to support their families.
What did Sarbananda Sonowal say about the scheme?
Sarbananda Sonowal highlighted that the PM SVANidhi scheme is a testament to Prime Minister Modi's commitment to uplift the poor and marginalized, ensuring every rupee reaches those in need.
