U’khand achieves 100 percent target in PM Swanidhi Yojana
By Our Staff Reporter
Dehradun, 15 Nov: Under the PM Swanidhi Yojana, street vendors are provided loans without the need for a guarantee to start or expand their businesses. The Pradhan Mantri Street Vendors Atmanirbhar Nidhi (PM Swanidhi) scheme has proven to be a boon for thousands of small entrepreneurs who earn their livelihoods through roadside vending. Under this initiative, Uttarakhand has extended financial assistance to over 40,000 small traders, successfully achieving its 100 percent target.
The PM Swanidhi scheme was launched to support small businesses adversely affected during the Covid period, helping them regain self-employment opportunities. In Uttarakhand, the Urban Development Department serves as the nodal agency for the scheme.
Under the programme, small entrepreneurs receive loans in three phases. They receive an amount of Rs 10,000 as working capital in the first phase, Rs 20,000 in the second phase and Rs 50,000 in the third phase.
These loans are provided with flexible repayment terms and without any guarantee. Beneficiaries can progress to the next loan phase only after repaying the previous loan within the stipulated timeframe. This systematic approach has empowered street vendors, enabling them to achieve financial stability and expand their businesses.
Commenting on the scheme, Chief Minister Pushkar Singh Dhami stated that inspired by Prime Minister Narendra Modi, the Central and State Governments regularly make policies keeping Antyodaya in mind. Similarly, the PM Swanidhi Yojana has been introduced to help small businessmen. It has produced great results in the state. The officials and staff of the Urban Development Department and the municipal bodies deserve congratulations for benefiting more people than the target allocated for the scheme.
