PM SVANidhi Scheme: Madhya Pradesh Chief Minister Mohan Yadav has highlighted the impact of the Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme, stating that it has become a strong support system for small vendors and street hawkers across the state.
PM SVANidhi Scheme Benefits Over 9 Lakh Street Vendors
Marking six years of the scheme, Yadav said that under the leadership of Prime Minister Narendra Modi, PM SVANidhi has helped lakhs of street vendors across the country gain access to financial assistance, improve their livelihoods, and achieve greater economic stability.
According to the Chief Minister, more than nine lakh street vendors in Madhya Pradesh have benefited from the scheme. He noted that access to collateral-free working capital loans has enabled vendors to expand their businesses, strengthen their incomes, and improve their standard of living.
The PM SVANidhi scheme was launched to support street vendors by providing affordable credit
The PM SVANidhi scheme was launched to support street vendors by providing affordable credit and encouraging their integration into the formal financial system. Beneficiaries are also eligible for incentives such as interest subsidies and rewards for digital transactions.
Yadav said the initiative has not only provided financial assistance but has also enhanced the dignity and confidence of small entrepreneurs who play an important role in the local economy. He added that the scheme has contributed to strengthening self-employment opportunities and supporting grassroots economic activity.
The state government described PM SVANidhi as an important step towards financial inclusion and economic empowerment, helping thousands of small traders and vendors build sustainable livelihoods while contributing to urban economic growth.
