How is the PM SVANidhi Scheme Transforming the Lives of Street Vendors in Chamoli?
Click to start listening
Synopsis
Discover how the PM SVANidhi scheme is transforming the lives of street vendors in Chamoli, Uttarakhand. This initiative is not only providing essential financial support but also empowering vendors to rebuild their businesses post-Covid. Join us in exploring the inspiring stories of resilience from the heart of this remote district.
Key Takeaways
- Over 600 beneficiaries in Chamoli have received financial aid through the PM SVANidhi scheme.
- The scheme provides collateral-free loans to urban street vendors.
- It promotes financial independence and stability for vendors.
- The initiative supports digital transactions and formal vendor registration.
- Success stories from Chamoli highlight the scheme's positive impact post-Covid.
Chamoli (Uttarakhand), Aug 18 (NationPress) The Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme has proven to be a revolutionary initiative for street vendors and small traders throughout India, particularly in the secluded border district of Chamoli, Uttarakhand.
This program is structured to provide collateral-free, low-interest loans to urban street vendors, significantly enhancing the financial well-being of those who operate roadside stalls, carts, and pavements.
Thanks to this initiative, more than 600 beneficiaries in Chamoli have received vital financial aid to help restore and revitalize their livelihoods—especially after the severe impact of the Covid-19 pandemic.
Vendors in this area who previously faced financial difficulties are now experiencing a notable rise in income and greater financial autonomy.
“This scheme is exceptionally beneficial and is making a profound impact on the impoverished,” expressed Parmanand Tiwari, one of the recipients, while showing appreciation for the Central government.
Beneficiaries like Rishi and Harish commend local municipal authorities for efficiently identifying eligible individuals and facilitating access to the loan program.
After obtaining their loans, they reported being able to restart their small enterprises, acquire goods, expand their product range, and secure a reliable income stream for their families.
Through the SVANidhi initiative, Prime Minister Narendra Modi aims to empower millions of street vendors nationwide, acknowledging their vital role in the urban economy.
The scheme not only offers financial backing but also encourages digital transactions, the formal registration of vendors, and connections to mainstream banking services.
In Chamoli, where geographic challenges frequently limit economic opportunities, the scheme's success has been particularly uplifting. Many vendors who had nearly lost all hope post-pandemic are now regaining their footing and feeling optimistic about the future.
“We are grateful to the Central government for recognizing the struggles of the poor and providing a solution that enables us to regain our independence,” said another beneficiary, Rishi.
Point of View
A crucial segment of the urban economy. By providing financial assistance and promoting digital transactions, it empowers these vendors to rebuild their livelihoods post-pandemic. As we observe its success in regions like Chamoli, it becomes evident that sustained efforts are necessary to foster economic growth and resilience among vulnerable populations.
NationPress
07/10/2025
Frequently Asked Questions
What is the PM SVANidhi scheme?
The PM SVANidhi scheme is an initiative designed to provide collateral-free, low-interest loans to urban street vendors to support their businesses and improve their livelihoods.
How has the scheme impacted street vendors in Chamoli?
In Chamoli, over 600 beneficiaries have received financial assistance, allowing them to revive their businesses and achieve greater financial independence post-Covid.
What are the benefits of the PM SVANidhi scheme?
The scheme not only provides financial support but also promotes digital transactions, formal registration for vendors, and links them to mainstream banking services.
Who are the beneficiaries of this scheme?
Beneficiaries include street vendors and small traders who have faced significant challenges, especially during the Covid-19 pandemic, and now have the opportunity to rebuild their livelihoods.
How can street vendors apply for assistance under this scheme?
Street vendors can apply for assistance through their local municipal bodies, which identify eligible individuals and facilitate access to the loan scheme.
