Madhavi Gaur
September 29, 2023 03:51
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PM SVANidhi, which stands for Prime Minister Street Vendor’s AtmaNirbhar Nidhi, is a central sector scheme launched in June 2020.
The Ministry of Housing and Urban Affairs (MoHUA) has launched the Pradhan Mantri Street Vendor’s Atma Nirbhar Nidhi (PM SVANidhi) to provide affordable loans to street vendors. Originally announced as part of Economic Stimulus-II under the Atmanirbhar Bharat Abhiyan, the scheme aims to benefit vendors, hawkers, thelewale, and those involved in textiles, apparel, artisan products, barbershops, laundry services, etc., across various areas.
PM SVANidhi, which stands for Prime Minister Street Vendor’s AtmaNirbhar Nidhi, is a central sector scheme launched in June 2020. It was introduced to provide micro-credit facilities to street vendors who were adversely affected by the COVID-19 pandemic. This scheme, falling under the Ministry of Housing and Urban Affairs (MoHUA), targets street vendors in urban, peri-urban, and rural areas who were active on or before 24th March 2020.
The full form of PM SVANidhi is “Prime Minister Street Vendor’s AtmaNirbhar Nidhi.”
| Details | Information |
|---|---|
| Launch Date | 1st June 2020 |
| Mandatory Documents | Aadhar Card, Voter Identity Card |
| Ministry | Ministry of Housing and Urban Affairs (MoHUA) |
| Full-Form of PM SVANidhi | Prime Minister Street Vendor’s Atmanirbhar Nidhi |
| Target Beneficiary | Street Vendors or hawkers in urban areas, peri-urban areas, and rural areas (Those street vendors as on/before 24th March 2020) |
| Tenure of the Scheme | June 2020 – March 2022 |
| Website | https://pmsvanidhi.mohua.gov.in/ |
The COVID-19 pandemic and subsequent lockdowns significantly impacted the livelihoods of street vendors, who often work with a small capital base. The scheme aims to provide credit for working capital to help street vendors resume their livelihoods.
The PM SVANidhi scheme is accessible to all street vendors actively engaged in vending in urban areas on or before March 24, 2020. The eligible vendors are identified based on the following criteria:
The scheme is available for beneficiaries in States/UTs that have notified rules and schemes under the Street Vendors (Protection of Livelihood and Regulation of Street Vending) Act, 2014. Meghalaya, which has its own State Street Vendors Act, is also eligible.
The Small Industries Development Bank of India (SIDBI) serves as the implementation partner for the Ministry of Housing and Urban Affairs for scheme administration. SIDBI leverages the network of lending institutions, including SCBs, RRBs, SFBs, Cooperative Banks, NBFCs, and MFIs for scheme implementation.
The scheme’s loans aim to revive income for vendors impacted by Covid-19 and lockdown. Implementation gaps, awareness issues, and accessibility concerns should be promptly addressed. Additionally, providing benefits like maternity allowances, accident relief, education support, and pensions during crises is essential for the well-being of street vendors.
The Pradhan Mantri Street Vendor’s Atma Nirbhar Nidhi (PM SVANidhi) is a crucial government scheme designed to offer micro-credit facilities specifically to street vendors who have been adversely impacted by the COVID-19 pandemic. Launched on June 1, 2020, this central sector scheme falls under the Ministry of Housing and Urban Affairs (MoHUA). Its primary objective is to provide collateral-free working capital loans to street vendors, facilitating the restart of their businesses amid the economic challenges posed by the pandemic.
For candidates preparing for the UPSC 2023 examination, understanding the key aspects of the PM SVANidhi scheme is essential, as questions related to government schemes are commonly featured in the exam.
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