Centre extends PM SVANidhi scheme till December 2024

New Delhi: The Centre has extended the PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) scheme beyond till December 2024.

The government has also introduced third loan of upto Rs 50,000 in addition to first and second loans of Rs 10,000 and Rs 20,000, respectively.

It has the provision to extend the 'SVANidhi Se Samriddhi' component for all beneficiaries of the scheme across the country.

As on November 30, 31.73 lakh street vendors have availed the benefits of the first Rs 10,000 loan. Out of these, 5.81 lakh have availed the benefits of the second Rs 20,000 loan.

Meanwhile, 6,926 street vendors have availed the benefit of third loan of Rs 50,000.

The Union Ministry of Housing and Urban Affairs (MoHUA) on Thursday said in a written reply to the Lok Sabha that the subject matter relating to creation of vending zone falls under the ambit of Street Vendors (Protection of Livelihood and Regulation of Street Vending) Act, 2014, which is being implemented through respective State/UT.

As reported by the States/UTs, a total of 13,403 vending zones have been identified so far.

The Ministry informed that 42 lakh street vendors will be provided benefits under PM SVANidhi Scheme by December 2024.

The MoHUA the PM SVANidhi scheme on June 1, 2020 to facilitate collateral free working capital loan, to street vendors to restart their businesses adversely impacted due to Covid-19 pandemic.

The first loan is upto Rs10,000 followed by second loan of upto Rs 20,000 and third loan of upto Rs 50,000, on repayment of the earlier loans.