• The Ministry of Housing and Urban Affairs recently released data related to the PM SVANidhi scheme, which aims to provide micro-credit support to street vendors to alleviate the pandemic-induced economic stress.
  • The data reveals that out of 42.7 lakh loans disbursed under the scheme, amounting to ₹5,152.37 crore, only 9.3% were given to street vendors from minority communities.
  • Additionally, the share of loans given to minority street vendors has declined steadily from 10.23% in 2020-21 to an all-time low of 7.76% in 2022-23.
  • The disbursal of loans across states appears to be aligned with the population of each state, with Uttar Pradesh disbursing the highest number of loans and Sikkim disbursing only one loan. Uttar Pradesh also gave the highest number of loans to minority street vendors at 95,032.

About PM SVANidhi Scheme

  • The scheme was announced as a part of the Economic Stimulus-II under the Atmanirbhar Bharat Abhiyan.
  • It has been implemented since 1st June 2020, for providing affordable working capital loans to street vendors to resume their livelihoods that have been adversely affected due to Covid-19 lockdowns.
  • A total of 13,403 vending zones have been identified so far.
  • 42 lakh street vendors are to be provided benefits under PM SVANidhi Scheme by December, 2024.
  • It is a Central Sector Schemee., fully funded by Ministry of Housing and Urban Affairs with the following objectives:
    • To facilitate working capital loan;
    • To incentivize regular repayment; and
    • To reward digital transactions
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