PM SVANidhi scheme uplifts street vendors in Chamoli, boosts livelihood post-Covid

Chamoli (Uttarakhand), Aug 18 (IANS) The Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme has emerged as a game-changer for street vendors and small traders across India, including the remote border district of Chamoli in Uttarakhand.

Designed to offer collateral-free, low-interest loans to urban street vendors, the scheme has significantly improved the economic condition of those who sell goods on roadside stalls, carts, and pavements.

Under the scheme, over 600 beneficiaries in Chamoli district have received financial assistance to support and revive their livelihoods — particularly hit hard during the Covid-19 pandemic.

Vendors in the region, who once struggled to make ends meet, are now witnessing a steady improvement in income and financial independence.

“This scheme is very good and is providing significant benefits to the poor,” said one of the beneficiaries Parmanand Tiwari while expressing gratitude to the Central government.

Beneficiaries such as Rishi and Harish credit the local municipal bodies for identifying eligible individuals and facilitating access to the loan scheme efficiently.

They reported that after receiving the loan amount, they were able to re-establish their small businesses, purchase goods, expand their inventory, and ensure a stable source of income for their families.

Prime Minister Narendra Modi, through the SVANidhi initiative, has aimed to empower millions of street vendors across the country, recognising their integral role in the urban economy.

The scheme not only provides financial support but also promotes digital transactions, formal registration of vendors, and linkage to mainstream banking services.

In Chamoli, where geographical challenges often restrict economic opportunities, the success of the scheme has been particularly encouraging. Many vendors who had nearly lost hope after the pandemic are now back on their feet and optimistic about the future.

“We thank the Central government for understanding the pain of the poor and offering a solution that helps us stand on our own feet,” said another beneficiary Rishi.

--IANS

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