PMINDIA

Distributes loans to 1 lakh street vendors under the scheme

Lays foundation stone for two additional corridors of Delhi Metro’s Phase 4

“PM SVANidhi Yojna has proved to be a lifeline for street vendors”

“Even though the vending carts and shops of street vendors might be small, their dreams are huge”

“PM SVANidhi Yojana has become the support system for lakhs of street vendors families”

“Modi is relentlessly working to improve the lives of the poor and the middle classes. Modi’s thinking is ‘welfare of nation by the welfare of public’”

“Partnership of dreams of common citizens and Modi’s resolve is the guarantee of a bright future”

The Prime Minister, Shri Narendra Modi addressed the beneficiaries of PM SVANidhi scheme at JLN Stadium in Delhi today and distributed loans to 1 lakh street vendors (SVs) including 5,000 SVs from Delhi as part of the scheme. He handed over PM SVANidhi loan cheques to five beneficiaries. The Prime Minister also laid the foundation stone of two additional corridors of Delhi Metro’s Phase 4.

Addressing the gathering, the Prime Minister acknowledged the presence of lakhs of street vendors linked to the event through video conferencing from 100s of cities. Remembering the strength of street vendors during the pandemic, the Prime Minister underlined their importance in everyday life. The Prime Minister said that money has been transferred directly to the account of 1 lakh street vendors all over the country and to top it all, two additional corridors of Delhi Metro: Lajpat Nagar – Saket-G Block and Inderlok – Indraprastha were also launched today.

The Prime Minister acknowledged the lakhs of street vendors in the country who take care of the needs of their families with their hard work and self-respect. PM Modi underlined that even though their vending carts and shops might be small, their dreams are huge. He pointed out that the governments of the past did not take any interest in the welfare of street vendors which led to them facing disrespect and hardships. He observed that their need for funds was fulfilled by high-interest loans while untimely payments caused further disrespect and even higher interest rates. He also noted that they had no access to banks as they did not hold any loan guarantees. In such cases, availing bank loans had become impossible due to no bank accounts and the absence of business records. “Previous governments did not pay any heed to the needs of street vendors, nor did they make any effort to tackle their issues”, PM Modi said.

“This servant of yours has come out of poverty. I have lived in poverty. That is why those who have not been cared for by anyone, they were not only cared for but have been worshiped by Modi”, said the Prime Minister. He further said, those who did not have anything to give guarantee as collateral were assured of Modi’s Guarantee. He also praised the integrity of street vendors. He said that loans worth 10,20 and 50 thousand are being provided to street vendors depending upon their records and use of digital transactions. Up till now, 62 lakh beneficiaries have received assistance worth Rs 11,000 crores. He expressed delight that more than half of the beneficiaries are women.

Recalling the launch of PM SVANidhi Yojna during the covid pandemic, the Prime Minister threw light on a recent study which states that the income of street vendors has grown manifold and the digital records of purchases are also helping them avail benefits from the bank. He also informed that a cashback of Rs 1200 can be redeemed with digital transactions every year.

Highlighting the hardships faced by street vendors in their daily lives, the Prime Minister noted that many of them migrate from villages to cities to make a living. “PM SVANidi not only connects the beneficiaries to banks but also opens the doors to other government benefits”, PM Modi said, giving examples of free ration, free treatment and free gas connections. He also highlighted the transformative approach of One Nation One Ration Card scheme which allows availing free ration from anywhere across the country.

The Prime Minister said that out of 4 crore pucca houses, 1 crore have been allotted to the urban poor. Referring to the massive drive to provide pucca houses in place of jhuggis, the Prime Minister said that 3000 houses have already been completed in Delhi and 3500 houses are about to be completed. He also mentioned the rapid regularization of unauthorized colonies and PM Suryaghar Muft Bijli Yojana with an allocation of Rs 75,000.

“Central Government is working day and night to make the lives of the poor and the middle class easier in Delhi”, PM Modi said. He gave the example of building pucca houses for the middle class as well as the urban poor and informed that a subsidy of Rs 50,000 crores has been handed out for the construction of houses. He mentioned fast-paced work on metro services in dozens of cities and running electric buses to tackle the problems of pollution and traffic congestion. “Delhi Metro Network has expanded two times in the last 10 years”, the Prime Minister said highlighting that Delhi’s metro’s extensive network is among the select few cities in the world. He also mentioned NaMo Bharat rapid rail connectivity for Delhi NCR region. “Central Government is running more than 1000 electric buses in Delhi to curb pollution in the city”, PM Modi added. He also noted that numerous expressways have been built around Delhi to reduce pollution and traffic congestion as he recalled the inauguration of Dwarka Expressway earlier in the week.

Talking about the initiative for promoting sports among the youth, the Prime Minister mentioned Khelo India giving unprecedented opportunities to the youth from ordinary families as accessible facilities are coming and help is being provided for quality training for the athletes.

“Modi is relentlessly working to improve the lives of the poor and the middle classes. Modi’s thinking is ‘welfare of nation by the welfare of public’, eliminating corruption and appeasement from the roots and making India the world’s third-largest economy”, PM Modi emphasized.

The Prime Minister concluded, “Partnership of dreams of common citizens and Modi’s resolve is the guarantee of a bright future”.

Lieutenant Governor of Delhi, Shri Vinay Kumar Saxena, Union Minister for Housing and Urban Affairs, Shri Hardeep Singh Puri and Union Minister of State for Finance, Shri Bhagwat Kishanrao Karad were present on the occasion.

Background

Guided by the Prime Minister’s vision to provide economic support to the marginalized sections, PM SVANidhi was launched on 1st June 2020 amidst the global economic crisis caused by the pandemic. It has proven to be transformative for the marginalized communities of street vendors. Till now, more than 82 lakh loans amounting to over Rs 10,978 crores have been disbursed to more than 62 lakh street vendors across the country. Delhi alone has witnessed the distribution of nearly 2 lakh loans, amounting to Rs. 232 crores. The scheme continues to be a beacon of financial inclusion and holistic welfare for those who have been historically underserved.

During the programme, the Prime Minister also laid the foundation stone for two additional corridors of Delhi Metro: Lajpat Nagar – Saket-G Block and Inderlok – Indraprastha. The combined length of these two corridors will be more than 20 km and will help improve connectivity and further reduce traffic congestion.

The stations on the Lajpat Nagar to Saket G- Block corridor will include Lajpat Nagar, Andrews Ganj, Greater Kailash – 1, Chirag Delhi, Pushpa Bhawan, Saket District Centre, Pushp Vihar, Saket G – Block. The stations on the Inderlok – Indraprastha corridor will include Inderlok, Daya Basti, Sarai Rohilla, Ajmal Khan Park, Nabi Karim, New Delhi, LNJP Hospital, Delhi Gate, Delhi Sachivalaya, Indraprastha.