Street vending is a vital economic activity in urban India. One can say that it is the largest informal sector that caters to the livelihood of the urban poor.
The Government of India is providing “Support to Urban Street Vendors (SUSV)” as a component of Deendayal Antyodaya Yojana- National Urban Livelihood Mission (DAY-NULM), a Centrally Sponsored Scheme.
The scheme aims to address the livelihood concerns of the urban street vendors by facilitating access to suitable spaces, institutional credit, social security, etc.
Street Vendors Atma Nirbhar Nidhi
Further, the Ministry of Housing and Urban Affairs has launched Prime Minister Street Vendors Atma Nirbhar Nidhi, better known as PM SVANidhi, a Central Sector Scheme, on 1st June 2020.
The scheme was launched with the objective of providing an affordable working capital loan up to ₹10,000/- to the Street Vendors to resume their businesses, adversely impacted due to COVID-19 Pandemic.
Subsequently, for the socio-economic upliftment of Street Vendors, the Ministry has initiated ‘SVANidhi se Samriddhi’ in 125 Urban Local Bodies, selected for saturation in the first phase on 4th January 2021.
Programmes linked with PM SVANidhi Scheme
This Programme aims to link PM SVANidhi Scheme beneficiaries and their family members to select central Government welfare Schemes namely Pradhan Mantri Jeevan Jyoti Bima Yojana, PM Suraksha Bima Yojana, Pradhan Mantri Jan Dhan Yojana, Registration under Building and Other Constructions Workers (Regulation of Employment and Conditions of Service) Act (BOCW), Pradhan Mantri Shram Yogi Maandhan Yojana, National Food Security Act (NFSA) portability benefit – One Nation One Ration Card (ONORC), Janani Suraksha Yojana and Pradhan Mantri Matru Vandana Yojana (PMMVY).
Huge improvement in the Socio-economic Profile of urban street vendors
As of July 30, 2021, under the ‘SVANidhi se Smariddhi’ Programme, the socio-economic profile of 5.3 lakh PM SVANidhi beneficiaries along with their family members has been completed.
Since June 01, 2020, the Ministry has also been implementing Pradhan Mantri Street Vendors’ Atma Nirbhar Nidhi (PM SVANidhi) Scheme under the Aatma Nirbhar Bharat Abhiyan package.
Under this, the govt. is facilitating the working capital loan of up to ₹10,000/- for 1-year tenure to Street Vendors, vending in urban areas.
In fact, on timely and early repayment, they are eligible for an enhanced working capital loan up to ₹20,000/- and ₹50,000/- in the second and third tranches respectively. The Scheme provides for incentives in the form of interest subsidy at the rate of 7% per annum on regular repayment of loan and cash-back up to ₹1,200/- on undertaking a prescribed number of digital transactions.
As of July 30, 2021, 43.3 lakh loan applications have been received. Out of these 25.3 lakh loans have been sanctioned and 22.8 lakh loans have been disbursed.
As the PM SVANidhi scheme brings in financial mainstreaming of street vendors through loans and digital payments, the government wants to formalise its understanding of this sector, and, based on that understanding, bring them under various schemes.
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