Bhopal/New Delhi, Oct 24 (IANS) Madhya Pradesh Urban Development and Housing Minister, Kailash Vijayvargiya, on Friday shared that the state government has so far provided loans worth Rs 2,078 crore to 9 lakh street vendors under the ‘PM SVANidhi’ scheme in urban areas.
Additionally, the state government has distributed more than Rs 80 crore to beneficiaries as an interest subsidy, he said, adding that Madhya Pradesh is committed to providing easy loans to as many eligible street vendors as possible under the ‘PM SVANidhi’ scheme.
Vijayavargiya shared this information during a meeting chaired by the Union Ministry of Housing and Urban Affairs, Manohar Lal Khattar, in New Delhi on Friday. Vijayvargiya, along with senior officials from the urban department, participated in the meeting virtually.
In the meeting, Khattar held a detailed discussion with ministers from various states regarding the restructuring of the PM SVANidhi Scheme and its implementation on the ground.
Presenting the Madhya Pradesh government’s report in the meeting, Vijayvargiya stated that the state government is committed to providing easy loans to as many eligible street vendors as possible under the PM SVANidhi Scheme in urban areas.
Vijayvargiya shared that necessary directions have been issued to all urban bodies in this regard, and regular monitoring is being done. He also shared that Madhya Pradesh ranks first in the country in providing benefits of the scheme to street vendors.
“So far, about 9 lakh beneficiaries in the state’s urban areas have been provided loans worth Rs 2,078 crore to help them start and strengthen their small businesses. Additionally, Rs 80 crore has been distributed to beneficiaries as an interest subsidy,” he stated.
The PM SVANidhi scheme is a central government initiative for street vendors, which provides collateral-free working capital loans of up to Rs 10,000 for the first tranche, with subsequent loans of Rs 20,000 and Rs 50,000.
Under the new provisions, the lending period has been extended until March 2030. The total outlay for the scheme is Rs 7,332 crore, and it aims to benefit 1.15 crore beneficiaries, including 50 lakh new beneficiaries.
Madhya Pradesh has been recognised for its successful implementation, with cities like Ujjain and Khargone noted for providing substantial benefits to vendors.
Commissioner of Urban Development of Madhya Pradesh, Sanket Bhondwe, who also joined the meeting, informed that urban bodies are conducting capacity-building training to help street vendors run their businesses successfully.
He shared that the state government is organising training camps for financial and digital literacy, e-commerce, packaging, food safety and hygiene. To bring street vendors and their families under the ambit of social security, they are being linked to various welfare schemes.
–IANS
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