Latest Current Affairs: PM SVANidhi Scheme Empowered Street Vendors

Why in latest Current Affairs: Minister of Housing and Urban Affairs, Hardeep Singh Puri, shared that the PM SVANidhi Scheme has positively impacted over 57 lakh street vendors nationwide. He mentioned that 45 percent of those benefiting from the scheme are women, and 72 percent belong to marginalized sections. Mr. Puri made these remarks during the inauguration ceremony of the National Street Food Festival 2023 in New Delhi. He informed that more than 80 lakh loans have been approved, with 76 lakh 22 thousand loans amounting to 10 thousand 58 crores rupees disbursed under the scheme.

Mr. Puri highlighted that the scheme, launched during the pandemic, has not only provided financial assistance but has also opened up new opportunities by facilitating digital transactions and collaboration with food delivery platforms. Mr. Puri expressed that the scheme has been a source of hope and support for many street vendors.

The National Association of Street Vendors of India (NASVI) is organizing the three-day National Street Food Festival 2023 at Jawaharlal Nehru Stadium in New Delhi until the end of the month. The festival aims to recognize the significance of street foods and vendors. With over 80 stalls offering a variety of dishes from different parts of the country, visitors can attend the festival from 12 noon to 10 PM by purchasing a ticket for 130 rupees.

What is PM SVANidhi Scheme


The primary objective of the PM SVANidhi Scheme is to provide financial assistance and support to street vendors in India, promoting their economic self-reliance.

Financial Assistance:

Street vendors can avail working capital loans to meet their operational needs, including purchasing stock, expanding their businesses, or restarting their activities.

Affordable Credit:

The scheme emphasizes providing affordable credit to street vendors, ensuring that they have access to financial resources at reasonable terms.

Digital Payment Facilities:

PM SVANidhi encourages the adoption of digital payment methods among street vendors, facilitating easier transactions and enhancing financial inclusion.

ID Cards:

The scheme includes the issuance of identification cards to street vendors, helping formalize their status and improving their recognition in the formal economy.

Integration into Formal Economy:

By promoting digital transactions, providing ID cards, and offering financial assistance, PM SVANidhi aims to integrate street vendors into the formal economic system.

Technology Adoption:

The scheme advocates the use of technology for better management and monitoring of street vending activities, enhancing efficiency and transparency.

Economic Empowerment:

PM SVANidhi contributes to the economic empowerment of street vendors, enabling them to overcome challenges associated with the informal nature of their businesses.


The scheme encourages proper documentation of street vending activities, ensuring transparency and facilitating easier access to financial support.

Resilience Building:

Through financial support and other initiatives, PM SVANidhi aims to build the economic resilience of street vendors, making them more capable of dealing with uncertainties and challenges.

These key points provide an overview of the PM SVANidhi Scheme’s focus on financial inclusion, digitalization, and overall empowerment of street vendors in India.

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