PM SVANidhi launched in June 2020, was designed to support street vendors affected from pandemic led losses, but over time, it has transformed in a potential instrument of economic inclusion and formal recognition. With the decision of Union Government approving its restructured version and extending it till March 31, 2030. The Scheme currently has an outlay of ₹7,332 crore and aims to benefit 1.15 crore vendors, including 50 lakh new beneficiaries. Increases the loan limits, issuance of UPI RuPay Credit Cards, digital casback rewards, and vendors access to credit and digital payments. Through the SAVNidhi se Samriddhi initiative, millions of people have also been brought under the ambit of welfare programs, which has helped enhance social security too. PM SVANidhi has directly aided the accomplishment of SDG 2030 goals No Poverty, Decent Work, Innovation, and Reduced Inequalities, enabling India to move towards a more resilient and inclusive 2030 Ka Bharat.
Source: Pib