In a spirited address to a public gathering in Mumbai, Prime Minister Narendra Modi reiterated his government’s commitment to ensuring a dignified life for street vendors and pavement dwellers across the nation. Speaking passionately about the success of the PM SVANidhi scheme, the Prime Minister highlighted its pivotal role in transforming the lives of millions.
PM Modi revealed that a staggering 9 million loans have been sanctioned under the PM SVANidhi scheme thus far, marking a significant milestone in the initiative aimed at empowering street vendors economically. Maharashtra, in particular, has seen approximately 1.3 million beneficiaries, underscoring the scheme’s widespread impact in the state.
In Mumbai alone, the financial aid provided under PM SVANidhi has reached 150,000 street vendors, injecting fresh momentum into their businesses and livelihoods. Emphasizing the role of financial institutions in this success story, PM Modi praised the banks for their crucial support in strengthening the entrepreneurial ventures of street vendors across the city.
The PM SVANidhi (Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi) scheme was launched with the aim to provide affordable working capital loans to street vendors to resume their livelihoods post the COVID-19 pandemic disruptions. It has not only provided financial assistance but also fostered a sense of self-reliance and hope among street vendors, enabling them to recover and rebuild their businesses.
Prime Minister Modi’s speech in Mumbai resonated deeply with the audience, reflecting the transformative impact of the government’s initiatives on the ground. As the PM SVANidhi scheme continues to gather momentum nationwide, its success in Maharashtra stands as a testament to the government’s commitment to inclusive growth and economic empowerment at the grassroots level.
The Prime Minister’s address concluded with a renewed pledge to expand the reach of PM SVANidhi, ensuring that every street vendor and pavement dweller in the country has the opportunity to lead a life of dignity and prosperity.
