Vadodara, September 30 (IANS) Vadodara Municipal Corporation on Tuesday resumed the PM Savidhi Yojana 2.0 for road vendors as part of the Urban Development Year celebrations. More than 3,000 street vendors were registered during the two -day program held at Pandit Desayal Upadhyay Auditorium in Vadodara. The Municipal Corporation has set a target to register more than 50,000 vendors within the next six months.
The Public Welfare Fair attracted a large number of beneficiaries, who praised Prime Minister Narendra Modi’s plan, for a positive impact on his livelihood.
The loan amount has increased under the PM Sanvidhi Yojana 2.0, with Rs 15,000, Rs 25,000 and Rs 50,000. Vendors of diverse communities, including the Banana community, have obtained loan checks from banks and expressed their happiness and praise for the government’s efforts.
Arun Mahesh Babu, Municipal Commissioner of Vadodara Municipal Corporation, said, “On the occasion of PM Modi’s birthday, we have launched PM Sanvidhi Yojana 2.0. We are receiving very good feedback. Government representatives have also participated in this program. The scheme will benefit and will increase business opportunities.”
Many beneficiaries shared their experiences with IANS.
Mehul Wagela said, “I got a message that I would get Rs 50,000 as a loan. It is really good and will help me expand my business. I want to thank PM Modi for this scheme.”
Similarly, the beneficiary Yohan AD said, “We are very happy with this scheme. I got money and will be invested in my business. It is a great help in increasing my enterprise.”
The Union Cabinet had approved the reorganization and expansion of the PM Sankidhi Yojana by 31 March 2030. The extended scheme aims to benefit 1.15 crore road vendors, including 5 million new beneficiaries.
Launched in 2020 by Housing and Urban Affairs (Mohua), the scheme supports road vendors who were influenced by the Covid-19 epidemic by providing working capital loans to help their businesses resume. It also promotes financial inclusion and encourages the adoption of digital transactions among road vendors.
The PM Sawidhi is a micro-credit scheme of a central region launched on 1 June 2020, offering handholding support to street vendors. The scheme initially facilitates a collateral-free working capital loan of Rs 10,000, with 7 percent interest subsidy with a loan of Rs 20,000 and post-Rs 50,000. To encourage digital transactions, street vendors receive cashback of up to Rs 100 per month.
The objective of the scheme is to formalize the road seller area and open new avenues for economic progress. Street vendors create an important component of urban informal economy, ensuring the availability of goods and services at the city’s residents directly cheaper prices.
Known by various names such as vendors, hawkers, thalvala, Rehriva, and thaliifadwala, they supply a wide range of vegetables including vegetables, fruits, ready-to-Eat street food, T, Pakoda, Bread, Eggs, Clothing, Clothing, Apparel, Apparel, Shoes, Artison products and stationery.
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JK/Red