In a significant boost for street vendors, Prime Minister Narendra Modi’s PM SVANidhi scheme reached Shahdol district in Madhya Pradesh on Friday. During a nationwide launch from Thiruvananthapuram, Kerala, eligible beneficiaries across India received loan amounts and credit cards. Locally, at the Shahdol Municipal Council premises, a large gathering of vendors celebrated as they were handed these financial lifelines.
Divya Dwivedi, one of the beneficiaries, shared her success story. Learning about the scheme through the municipal corporation, she applied and kickstarted her tailoring business with the loan. ‘The gradual disbursements helped my business grow steadily,’ she said, expressing heartfelt gratitude to PM Modi for empowering women like her.
Gagan Burman, another vendor, credited Bank of India for informing him about PM SVANidhi. His initial Rs 10,000 loan revitalized his grocery shop, and subsequent tranches fueled further expansion. ‘This support has transformed my livelihood,’ Burman noted, thanking the Prime Minister.
Jaysinghnagar MLA Manisha Singh, present at the event, praised the scheme as a game-changer for small traders. ‘It’s proving to be a panacea, economically empowering vendors. The new credit card feature will offer even more conveniences,’ she told reporters.
Municipal Council Chairman Ghanshyam Jaiswal highlighted the enhanced loan limits: from Rs 10,000 to Rs 15,000 for the first tranche, Rs 20,000 to Rs 25,000 for the second, and up to Rs 50,000 for the third. ‘These upgrades are strengthening small businesses, and we thank the central government,’ he added.
The event underscores the government’s commitment to Atmanirbhar Bharat, ensuring street vendors rebound stronger post-pandemic. With digital credit cards now in play, vendors gain easier access to working capital, digital transactions, and interest subsidies, promising sustained growth for this vital sector.