Street vendors in Uttarakhand’s Chamoli district are experiencing success due to the financial aid from the Central government through the PM Street Vendors AtmaNirbhar Nidhi (PM SVANidhi scheme). Beneficiaries are expressing gratitude to Prime Minister Narendra Modi for introducing this scheme, which has positively impacted their lives.
More than 600 beneficiaries in Chamoli have already benefitted from the PM SVANidhi scheme. Many vendors have shared how the scheme helped them, especially during the challenges posed by the COVID-19 pandemic. They credit the municipality for identifying them and facilitating the scheme’s benefits, leading to improved financial stability and increased earnings.
Pushkar Singh, a scheme beneficiary, praised the timely assistance provided by the municipal authorities under PM SVANidhi. He emphasized the scheme’s effectiveness in enhancing his livelihood and urged others to make use of this government initiative. Launched in June 2020, the PM SVANidhi scheme aims to support street vendors in reviving their businesses post the pandemic-induced financial setbacks.
The scheme offers collateral-free working capital loans to street vendors, with an initial loan of up to Rs 10,000. Recognizing the need for more substantial support, second and third loans of up to Rs 20,000 and Rs 50,000, respectively, have also been introduced to aid vendors in restarting and sustaining their businesses.
