Bhopal, Oct 22 (IANS) The Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme, aimed at supporting the street vendors in urban as well as rural areas, has transformed the lives of hundreds of small shopkeepers and traders across the country.

In Madhya Pradesh’s Betul district, there are hundreds of marginalised families who have accrued the benefits of the PM SVANidhi scheme and are today expressing gratitude to the current dispensation for launching a farmer-friendly programme.

The owners and proprietors of small businesses attribute their success to the subsidised loan under the scheme.

Under the PM SVANidhi Yojana, these small businesses are entitled to receive a loan of Rs 10,000 for the first time, which they must deposit without interest. Then, they are given a loan of Rs 20,000, and after this, they become entitled to get a loan of Rs 50,000 to further their businesses.

More than a hundred people are running their businesses in the Betul district, under the scheme. A couple of beneficiaries thanked Prime Minister Narendra Modi for initiating such a scheme for the deprived and downtrodden section of people.

There are many retail traders in the city, ranging from cobblers working on chart pakora carts, tea sellers selling sugarcane juice, fruit juice sellers, and shopkeepers of shoes and readymade cloth, who took advantage of this scheme to start their business and are now taking it to new heights.

All these small business owners are grateful to the Prime Minister and are going overboard in praising him.

A beneficiary said, “I took a loan of Rs 10,000 under the PM SVANidhi scheme to start my business. After clearing it, I received a Rs 20,000 loan, and upon clearing that, I got a Rs 50,000 loan…”

Another beneficiary said, “I took a loan under the PM SVANidhi scheme… I thank the Prime Minister for this scheme.”

Notably, the flagship scheme was restructured recently to expand its coverage and reach the masses.

Under the new provisions, the lending period has been extended until March 2030. The total outlay for the scheme is Rs 7,332 crore, and it aims to benefit 1.15 crore beneficiaries, including 50 lakh new beneficiaries.

–IANS

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