Daijiworld Media Network- Tumkur

Tumkur, Apr 10: In a heartening example of grassroots empowerment, street vendors in Karnataka’s Tumkur district are witnessing a positive transformation in their livelihoods, thanks to the Central government’s Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme.

Among the many success stories is that of Srinivas, a vegetable vendor who shared how the scheme brought stability and growth to his once-struggling business. Initially availing a loan of Rs 10,000 under the PM SVANidhi scheme, Srinivas repaid the amount through regular monthly installments. Encouraged by his progress, he later received a second loan of Rs 20,000 and subsequently a third loan of Rs 50,000.

“My business has grown steadily, and today I feel financially secure, thanks to the government’s support,” he shared.

Before enrolling in the scheme, Srinivas was dependent on local moneylenders who charged exorbitant interest rates. However, things took a positive turn after officials from the municipality approached him, verified his credentials, and helped him access the scheme’s benefits. As per the scheme’s guidelines, Srinivas also installed a signboard outside his shop acknowledging his participation in PM SVANidhi.

Launched in June 2020 by the ministry of housing and urban affairs, the PM SVANidhi scheme is aimed at uplifting street vendors across urban India by offering collateral-free loans with easy repayment options and interest subsidies. The initiative is designed to support vendors in three progressive loan cycles—Rs 10,000 in the first phase, followed by Rs 20,000 and Rs 50,000 in subsequent phases.

The scheme, which is open until March 2028, also extends eligibility to vendors without a vending certificate. They can be granted provisional certificates following local verification.

The government’s ambitious target is to empower around 50 lac street vendors nationwide, including those involved in selling fruits, vegetables, food items, or offering essential services such as barbershops and laundry.

Thanks to this visionary scheme, vendors like Srinivas are not only becoming self-reliant but also contributing actively to the local economy with renewed confidence and dignity.