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Key Points

Union Minister Sarbananda Sonowal has announced a target of reaching 1.15 crore beneficiaries under the PM SVANidhi scheme. He praised Prime Minister Narendra Modi for implementing this program to support street vendors and small traders. The scheme provides phased loans starting from Rs 10,000 with interest subsidies for timely repayments. It was specifically launched to help vendors recover from hardships faced during the COVID-19 pandemic.

Key Points: Sarbananda Sonowal Announces PM SVANidhi Target 1.15 Crore Beneficiaries

  • Scheme provides loans in three phases up to Rs 50,000 for vendors
  • Offers 7 per cent interest subsidy for timely repayments
  • Aims to empower poor and marginalized financially
  • Designed to support small businesses post-COVID restrictions
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Target of 1.15 crore beneficiaries set: Sarbananda Sonowal on implementation of PM SVANidhi

Union Minister Sarbananda Sonowal praises PM Modi's PM SVANidhi scheme, announcing a target of 1.15 crore beneficiaries for empowering street vendors with financial support.

"The primary goal of the PM SVANidhi scheme is self-reliance. Through this, an individual can support their family with dignity. - Sarbananda Sonowal"

Dibrugarh, August 31

Union Ports, Shipping & Waterways Minister Sarbananda Sonowal on Sunday lauded the successful implementation of the PM SVANidhi scheme, informing that the target to reach 1.15 crore beneficiaries under the scheme has been set.

Dibrugarh (Assam) [India], August 31 (ANI): Union Ports, Shipping & Waterways Minister Sarbananda Sonowal on Sunday lauded the successful implementation of the PM SVANidhi scheme, informing that the target to reach 1.15 crore beneficiaries under the scheme has been set.

"This program was implemented successfully. The beneficiaries enthusiastically expressed their views. This is a huge program for the poor. The steps taken by the Prime Minister to give them justice are commendable. I thank him on behalf of the people of the country. The target of 1.15 crore beneficiaries has been set," Sonowal told reporters here.

Sonowal said that Prime Minister Narendra Modi has proved through the successful implementation of the PM SVANidhi scheme that he will never let down the poor.

Sonowal, who is the Member of Parliament from Dibrugarh LSC, attended a public programme on the Prime Minister's Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) scheme at the Auniati Satra branch in Mankota Road, Dibrugarh. The event was organised jointly by the Dibrugarh District administration and Dibrugarh Municipal Corporation (DMC).

During the program, the Union Minister interacted with several beneficiaries of the scheme.

"The primary goal of the PM SVANidhi scheme is self-reliance. Through this, an individual can support their family with dignity. Prime Minister Narendra Modi envisioned this strength and created the scheme to empower the poor and marginalised financially," Sonowal said in his address.

Recalling the hardships faced during the COVID-19 pandemic, Sarbananda Sonowal said, "When restrictions crippled small businesses and street vendors, Prime Minister Modi launched this scheme to provide relief. Under it, banks were instructed to extend loans to vendors in three phases--starting with Rs 10,000, followed by Rs 20,000 and Rs 50,000 for those who repaid on time. Additionally, successful borrowers were given a 7 per cent interest subsidy."

Sonowal added that the design of the repayment mechanism helped many small traders succeed.

The Union Minister today inaugurated a Pradhan Mantri Bharatiya Janaushadhi Kendra at Milan Nagar in Dibrugarh, aimed at providing affordable generic medicines to the public.

- ANI

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Reader Comments

P
Priya S
Good to see the government focusing on street vendors who are the backbone of our local economy. Hope the implementation is smooth across all states without too much paperwork.
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Aman W
While the scheme is good, the ground reality is different in many places. Banks still ask for bribes to process these loans. Government should monitor this properly.
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Sarah B
The interest subsidy and phased loan approach is really smart policy making. Helps vendors grow gradually while maintaining financial discipline. 👍
Vikram M
PM SVANidhi + Janaushadhi Kendra - both are pro-poor schemes that actually make difference in common man's life. Hope they reach every corner of India including remote areas.
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Nisha Z
My mother is a street vendor in Mumbai and this scheme helped her so much during COVID. She could pay back her debts and now has regular customers again. Thank you for this initiative! ❤️

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