Key Points

"I inherited my father’s workshop, but we lacked the necessary tools to work efficiently. I had to borrow equipment from others, which delayed my projects and affected my income," said Khan, who now operates a fully equipped shop in Khandwa city.

“When I learnt about the PM SVANidhi scheme through the Khandwa Municipal Corporation, I applied and received a loan of Rs 10,000. With that, I bought essential tools and restarted my business. Now I’m handling more clients and earning well. My family is secure again. I truly thank Prime Minister Narendra Modi for this opportunity,” he added.

Launched in June 2020 by the Ministry of Housing and Urban Affairs, the Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme aims to provide collateral-free working capital loans to street vendors and small traders affected by the COVID-19 pandemic.

The scheme enables vendors to avail a loan of ₹10,000 in the first year, followed by ₹20,000 in the second year and ₹50,000 in the third, based on timely repayments. Recently, additional benefits of ₹5,000 have been included, increasing the initial disbursement to ₹15,000.

Speaking about the scheme’s local impact, Mohammad Saeed Shah, City Mission Manager of Khandwa Municipal Corporation, said: “This scheme is nothing short of a blessing for street vendors. In Khandwa, many beneficiaries like Wasim Khan have successfully restarted and expanded their businesses. We are now offering ₹15,000 in the first year and ₹25,000 in the second, and I urge more vendors to come forward and avail these benefits.”

On PM Modi’s birthday, beneficiaries like Wasim Khan say they are not just celebrating a leader but also the life-changing opportunities that his government’s schemes have brought into their lives. For many small traders across India, PM SVANidhi is not just financial support, it is dignity restored.

- IANS