Centre’s svanidhi se samriddhi program expanded to cover 126 more cities
What Is The News :
- Ministry of Housing and Urban Affairs (MoHUA) today launched ‘SVANidhi se Samriddhi’ program in additional 126 cities across 14 States/ UTs, in the presence of senior officials of States/UTs and various Central Ministries.
- Union Minister of Housing and Urban Affairs – Hardeep singh puri.
- Minister of state for Housing and Urban Affairs – Kaushal Kishore
Background :
- ‘SVANidhi se Samriddhi’, an additional program of PMSVANidhi was launched on 4thJanuary 2021 in 125 cities in Phase 1, covering approximately 35 Lakh Street vendors and their families.
- 5 lakh scheme sanctionshave been extended to them including 16 lakh insurance benefits under Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeeban Jyoti Yojana and 2.7 Lakh pension benefits under Pradhan Mantri Shram Yogi Maandhan Yojana, amongst other such benefits.Â
- Considering the success of Phase I, MoHUA launched the program expansion to additional 126 cities with an aim to cover 28 Lakh Street vendors and their families, with a total target of 20 Lakh scheme sanctions for FY 2022-23. The remaining cities would be gradually added to the program.
Key points :
- MoHUA has been implementing Prime Minister Street Vendors AtmaNirbhar Nidhi (PM SVANidhi), a Central Sector Scheme since 1st June 2020.
- The scheme aims to provide an affordable working capital loan to Street Vendors and has successfully crossed the 30 Lakh mark. As envisioned by the Honourable Prime Minister, the scheme aims to not only extend loans to street vendors, but also aims for their holistic development and economic upliftment.
- Keeping this in mind, ‘‘SVANidhi se Samriddhi’ program was started to provide social security benefits to street vendors for their holistic development and socio-economic upliftment.
- Secretary, MoHUA in his address today stated that in one year of its implementation, despite the challenges posed due to COVID-19 pandemicin the year 2020-21, the program was successful in providing social security benefits to the street vendor families and thereby protecting them from any risks and vulnerabilities of life and livelihoods.
- Shri Sanjay Kumar, Additional Secretary, MoHUA mentioned that the program has two-fold achievements: one, a central database of Street vendors and their families is created on various socio-economic indicators. Second, a first of its kind inter-ministerial convergence platform is established between various Central Ministries to extend safety net of welfare schemes to street vendor households.
Objectives of programme:
- The programme would map the socioeconomic profile of the PM SVANidhi beneficiaries and their families, assess their potential eligibility for various Central welfare schemes and facilitate the linkages to these schemes.
- The socio-economic profiling will also help States, if they deem fit, to extend their State-specific welfare schemes & benefits, to the eligible PM SVANidhi beneficiaries and their families.
PM- SVANIDHI (PM Street Vendor’s AtmaNirbhar Nidhi)
- This is a Central Sector Scheme to facilitate street vendors to access affordable working capital loan for resuming their livelihoods activities, after easing of lockdown.
- The urban street vendors can avail of a Working Capital (WC) loan of up to 10,000 with a tenure of 1 year repaid in monthly instalments.
- No collateral is required to avail of this loan.
- The scheme is under the ministry of housing and urban affairs
- Current minister of housing and urban affairs –Hardeep Singh Puri.
- The PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme was launched on June 01,2020.
Objectives of PM svanidhi :
- To provide working capital loan up to `10,000 at subsidized rate of interest;
- To incentivize regular repayment of loan; and
- To reward digital transactions.
Target group PM Svanidhi :
- The scheme aims to benefit over 50 lakh street vendors, who had been vending on or before 24 March, 2020 in urban areas.
- As beneficiaries, the street vendors belonging to the surrounding peri-urban or rural areas are also included under the urban livelihoods programme for the first time.
Eligibility PM Svanidhi :
The eligible vendors are identified as per following criteria:
- Street vendors in possession of Certificate of Vending/Identity Card issued by Urban Local Bodies (ULBs)
- The vendors, who have been identified in the survey but have not been issued Certificate of Vending/Identity Card; Provisional Certificate of Vending would be generated for such vendors through an IT based Platform. ULBs are encouraged to issue such vendors the permanent Certificate of Vending and Identification Card immediately and positively within a period of one month
- Street Vendors, left out of the ULB led identification survey or who have started vending after completion of the survey and have been issued Letter of Recommendation (LoR) to that effect by the ULB/Town Vending Committee (TVC)
- The vendors of surrounding development/peri-urban/rural areas vending in the geographical limits of the ULBs and have been issued Letter of Recommendation (LoR) to that effect by the ULB/TVC.
Benefits of PM Svanidhi :
- Initial working capital of up to `10,000/-
- Interest subsidy on timely/ early repayment @ 7%
- Monthly cash-back incentive on digital transactions
- Higher loan eligibility on timely repayment of the first loan.
- The vendors, availing loan under the scheme, are eligible to get an interest subsidy at 7%. The interest subsidy amount will be credited into the borrower’s account
About street vendors :
- They are known as vendors, hawkers, thelewala, rehriwala, theliphadwala etc. in different areas/ contexts.
- The goods supplied by them include vegetables, fruits, ready-to-eat street food, tea, pakodas, breads, eggs, textile, apparel, footwear, artisan products, books/ stationary etc.
- The services include barber shops, cobblers, pan shops, laundry services etc. The COVID-19 pandemic and consequent lockdowns have adversely impacted the livelihoods of street vendors.
- They usually work with a small capital base and might have consumed the same during the lockdown.
Implementation PM Svanidhi:
- SIDBI implementents the PM SVANidhi Scheme under the guidance of ministry of housing and urbam affairs.
SIDBI (Small industries development bank of india)
Headquarter – Lucknow, chairman – S. raman
- It will also manage the credit guarantee to the lending institutions through Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).
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