After six years, the Prime Minister’s Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) plan has become an important program for helping small businesses and street vendors in India become economically independent.
Among others who have benefited from the program are Vishnu Shankar Bhardwaj of Sarnath, Varanasi, and Babita of Ghaziabad, who both used the loans to grow their enterprises.
While selling religious things from a roadside kiosk, Babita stated she struggled financially during the Covid-19 pandemic. She now makes 2,000 to 3,000 rupees daily after taking out a loan of up to 50,000 rupees through PM SVANidhi, which allowed her to open a permanent shop.
Stone idols, garlands, and gift items vendor Bhardwaj said the plan facilitated small sellers’ access to bank credit. Beneficiaries’ financial stability, self-esteem, and social status have all been enhanced by the program, he said.
Both recipients lauded the openness of direct benefit transfers and other government assistance programs, such as the Prime Minister’s Housing Scheme.
The merchants have expressed their gratitude to Prime Minister Narendra Modi, saying that PM SVANidhi has helped bring about the vision of Atmanirbhar Bharat and improved the lives of millions of people.
Image: PIB
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