Bhubaneswar: The Central government has highlighted the transformative impact of the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme, describing it as a major initiative that has helped street vendors transition from survival to self-reliance through access to formal credit and financial inclusion.
According to the government, the scheme has significantly strengthened business sustainability and improved earnings for street vendors across the country. Nearly 95 per cent of beneficiaries reportedly accessed formal institutional credit for the first time through PM SVANidhi, enabling them to expand and stabilise their businesses.
The scheme, launched to support urban street vendors, has played a key role in integrating informal workers into the formal financial system by providing collateral-free working capital loans and encouraging regular repayment through incentives.
Officials said the economic gains generated under the programme have also contributed to notable improvements in household welfare. Beneficiary families have reported greater housing stability, improved access to nutritious food and enhanced spending on healthcare and education.
The government noted that beyond providing financial assistance, PM SVANidhi has helped strengthen financial literacy, promote digital transactions and create pathways for long-term economic resilience among street vendors.
The scheme is considered one of the flagship initiatives aimed at supporting micro-entrepreneurs and promoting inclusive urban economic growth across India.
