The program should be seen as sensitizing street vendors for their improvement, Prime Minister Modi said (File)
New Delhi:
Prime Minister Narendra Modi on Saturday discussed the implementation of a special microcredit facility for street vendors, stressing that it should not be seen from the perspective of granting them loans, but as part of a awareness for their holistic development and economic recovery.
PM’s street vendor AtmaNirbhar Nidhi (PM SVANidhi) aims to facilitate an unsecured working capital loan of up to Rs 10,000 over one year, to help street vendors get back to business after the lockdown.
During the review meeting, he was informed that over 2.6 lakh requests have been received, over 64,000 have been sanctioned and over 5,500 have been disbursed.
The Prime Minister expressed satisfaction with the use of an end-to-end IT solution via a web portal and mobile app for program administration to ensure transparency, accountability and speed, according to a official press release.
While noting that the Ministry of Housing and Urban Affairs is working on a comprehensive IT solution, including a mobile app, for a seamless implementation of the program, the prime minister said its design should encourage the use of digital transactions. end to end in the street. sellers.
This should cover the full range of their activities – from sourcing raw materials to collecting the proceeds for sale. Appropriate incentives and training should be organized for this purpose. Using digital payments would also help build a credit profile for the street vendor by helping them meet their future financial needs, Prime Minister Modi observed.
He said the program should not be viewed simply from the point of view of providing loans to street vendors.
It should also be seen as part of sensitizing street vendors for their holistic development and economic recovery, Prime Minister Modi said in the statement.
A step in that direction would be to capture all of their socio-economic details to facilitate the necessary policy interventions.
These data could also be used by different central ministries to benefit them under various schemes to which they are eligible, on a priority basis.
These include housing under PMAY-U, cooking gas under Ujjawala, electricity under Saubhagya, health under Ayushman Bharat, skills under DAY-NULM and a bank account under Jan’s regime. Dhan, the statement read.
(Except for the title, this story was not edited by GalacticGaming staff and is posted from a syndicated feed.)
