Key Takeaways
- The extension of PM Swanidhi will benefit 50 lakh new street vendors in Uttar Pradesh, providing facilities to about 1.15 crore beneficiaries.
- The loan amount for the first installment has been increased from Rs 10,000 to Rs 15,000, and the second installment from Rs 20,000 to Rs 25,000.
- Vendors will now get a UPI-linked RuPay credit card, and cashback of up to Rs 1,600 on wholesale and retail transactions.
Lucknow: Uttar Pradesh Deputy Chief Minister Keshav Prasad Maurya announced the extension of PM Swanidhi Yojana, a move that will benefit 1.15 crore beneficiaries of UP, including 50 lakh new street vendors. 50 lakh new street vendors will now be eligible for the scheme.
Expressing gratitude to the Prime Minister Narendra Modi for the extension of the scheme on his social media account X, the Deputy CM wrote, “Now this scheme will run till March 31, 2030 and a provision of Rs 7,332 crore has been made for it.”
“This extension will provide facilities to about 1.15 crore beneficiaries, which will also include 50 lakh new street vendors,” he added.
He said that this step was a big initiative towards making small traders self-reliant and bringing stability in their lives.
It may be noted that this time many changes have also been made in the scheme by the union Cabinet. In which the loan for the first installment has now been increased from Rs 10,000 to Rs 15,000.
The loan for the second installment has been increased from Rs 20,000 to Rs 25,000. The third installment will remain at Rs 50,000. Those who pay the second installment on time will now be given a UPI-linked RuPay credit card. This will give them instant money, whether to expand business or meet personal needs.
The government has also decided to promote digital transactions. Vendors will now get cashback of up to Rs 1,600 on wholesale and retail transactions.
PM Swanidhi is a central microcredit scheme launched by the Ministry of Housing and Urban Affairs on June 1, 2020. It aims to provide assistance to street vendors.
This includes street vendors/hawkers selling in urban areas on or before March 24, 2020, including vendors from nearby peri-urban and rural areas selling in urban areas.
