PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme

The PM SVANidhi Scheme was recently introduced by the Ministry of Housing and Urban Affairs on 1st June 2020, in response to the financial plight of the street vendors and hawkers, who has been adversely affected by the COVID 19 pandemic as well as the lockdown.


Street vendors and hawkers in urban areas and its surrounding peri-urban and rural areas who :

(i) possess a Certificate of Vending /Identity Card issued by Urban Local Bodies(ULB)

(ii) have been identified by the survey. Provisional Certificate of Vending will be issued.

(iii) are in the urban areas and surrounding peri-urban and rural areas possessing Letter Of Recommendation by ULB or Town Vending Committee(TVC) 

Details of the Scheme

This has been designed to provide an initial working capital loan of up to Rs.10,000/- for 1 year with a subsidized rate of interest, to the beneficiaries to start their businesses after the lockdown, with the option of renewal of the loan, the maximum amount going up to Rs.20,000/- the next year, considering factors like timely and early repayment of the same. It also aims at providing certain incentives like ‘cashback’ for using digital transaction methods. Also, the vendors would be able to avail a 7% interest subsidy. The implementation of the scheme would be operational till March 2022.

Application Method

To avail the scheme the beneficiaries have to fill out an online form on the government portal and also submit relevant documents. One may avail the help of a Banking Correspondent /Agent of the Micro Finance Institution (MFI) in their area.

Scheme as a boon

In times of uncertainty due to the COVID 19 pandemic and lockdown where businesses have been stalled suddenly, the worst sufferers amongst them are the vendors or hawkers who usually have very little capital amount to sustain their business and livelihoods. It is but natural to assume that their finances must have run dry due to the long stretch of lockdown period. Hence this scheme comes as a boon to such vendors to start afresh with help and motivation from the Central Government.

Similar Yojanas

Prime minister-launched schemes in India

Over the years of Indian Politics, many prime ministers have implemented schemes and welfare initiatives. These schemes are mainly funded by the central government of India and also by the state governments. Atal Bihari Vajpayee, Manmohan Singh, Rajiv Gandhi, and Narendra Modi have worked for the betterment of society.

One unique aspect of the schemes is their catchy names, such as Swachh Bharat Mission and Smart Cities Mission. The names have much more attention from masses. The government of India under the influence of prime ministers has doubled many of its flagship schemes and programs. Recently, on May 31, 2019, the government declared to extend PM Kisan Samman Nidhi. The scheme was originally available to only some categories of farmers; it has now been made available to all farmers in the country. Under this scheme, farmers are annually paid Rs. 6,000 in three installments. Over 145 million people would be benefitted from this. Launched by September 2018, PM Jan Arogya Yojana would be targeting 107 million people. New Jal Shakti Ministry has been announced with the aim of availing piped water to all Indian families by 2024. Schemes have also been launched for better skill-training activities and entrepreneurship, such as Skill India Mission and Make in India Mission. The National Rural Employment Guarantee Act was launched in 2005 for social security purposes, promising livelihood and employment to rural areas.

There are many pension-related schemes for our country’s farmers, traders, and entrepreneurs. Startup India is one of the flagship initiatives launched for strengthening startup culture and professional ecosystem. While prime ministers-launched schemes have done the best to fix agricultural crisis, employment and investment are expected to be next on the government’s agenda.