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Scheme announced for loans as working capital to street venders

By Our Staff Reporter
Dehradun, 25 Jul: Chief Minister Trivendra Singh Rawat has instructed all the District Collectors to extend the benefits of PM Street Vendor Atmanibir Nidhi Scheme to the eligible persons. In the video conferencing held at the Secretariat, Secretary, Shailesh Bagoli, made a presentation in respect of PM Street Vender Atmanirbhar Nidhi Scheme. This scheme is aimed to provide funds to street venders to become self reliant in the Corona time. Bagoli pointed out that the scheme was fully funded by the Centre.
Under the scheme, a loan of Rs 10,000 is to be provided as working capital to the street venders. The loan is subsidised. Seven percent of the loan amount is provided as subsidy or grant by the Centre and an additional 2 percent of the loan amount is provided by the state as grant or subsidy.  The subsidy on interest due on loan will be given every quarter to the street venders. Interest subsidy will be given quarterly. Interest subsidy is available in this scheme from 1 July 2020 to 31 March 2022. This scheme has a loan facility of Rs 10 thousand as working capital. Digital transactions are being promoted, Bagoli has informed.
Secretary Shailesh Bagoli said that an implementation and monitoring committee is being formed at the local body level for the implementation of this scheme. He said that the local bodies in which the committee has not been formed, ought to constitute the committee soon. District Magistrates would have to coordinate with bankers to provide loan facility to the street venders.