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Taking a step forward towards an 'Atmanirbhar Bharat' (Self-Reliant India), the Modi government has decided to extend the Pradhan Mantri Street Vendors' Atmanirbhar Nidhi (PM SVANidhi) scheme until March 2030. It is worth noting that the government launched this scheme during the COVID-19 pandemic specifically for small entrepreneurs—such as street vendors and hawkers—to enable them to sustain their self-employment through financial assistance provided by the government. Let us explore the details of the Pradhan Mantri Street Vendors' Atmanirbhar Nidhi scheme in depth.

**Over 7.55 Million Vendors Have Benefited**
According to government statistics, more than 7.55 million street vendors across the country have availed themselves of the benefits of this scheme so far. Over 11.2 million loans have been sanctioned for them. Under the scheme, a total amount exceeding ₹17,800 crore has been disbursed. Additionally, beneficiaries have received approximately ₹800 crore in the form of interest subsidies and incentives for digital transactions.

**Loans Available Without Collateral**
Under the PM SVANidhi scheme, street vendors are provided with loans in a phased manner, without the requirement of any collateral or guarantee. Loans of up to ₹15,000 are made available for the first instance, up to ₹25,000 for the second, and up to ₹50,000 for the third instance. Beneficiaries who repay their loans on time also receive an annual interest subsidy of 7 percent. Furthermore, they are accorded the facility to avail themselves of higher loan amounts in the future.

**Boost to Digital Payments**
Through this scheme, street vendors are also being encouraged to adopt digital transactions. A cashback of up to ₹1,600 is provided for conducting digital payments. To date, over 5.5 million vendors have executed more than 841 crore digital transactions, with a cumulative value of approximately ₹8.96 lakh crore. Eligible beneficiaries are also being provided with a UPI-linked RuPay Credit Card with a limit of up to ₹30,000.

**Special Focus on Women and Vulnerable Sections**
Approximately 46 percent of the scheme's beneficiaries are women, while about 70 percent belong to deprived and vulnerable sections of society. Under the government's "Svanidhi se Samriddhi" initiative, more than 5 million families have been linked to various welfare schemes. According to independent studies, the scheme has recorded an average annual increase of 20 percent in the income of beneficiaries. Furthermore, approximately 95 percent of beneficiaries obtained a loan from a formal banking institution for the first time, thereby giving fresh impetus to financial inclusion.

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