Sheikhpura, Dec 17 The Central government’s welfare-oriented Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme has emerged as a ray of hope for street vendors and footpath shopkeepers, transforming their lives by making them self-reliant and freeing them from the long-standing burden of high-interest loans taken from moneylenders.
Earlier, street vendors were forced to borrow money at exorbitant interest rates from local moneylenders just to keep their small businesses running. The lack of capital kept them trapped in debt and poverty.
The PM SVANidhi Scheme has helped them come out of the mess by providing easy and affordable credit. This is how they were enabled to expand their businesses and secure a dignified livelihood.
Bipin Kumar, who runs a clothing shop near Patel Chowk in Bihar’s Sheikhpura Municipal Council area, shares his experience of how he benefited from the scheme.
Talking to IANS, Bipin said that earlier, he lacked sufficient capital to run his shop. Financial constraints were his biggest obstacle, even as he was willing to work hard. After learning about the PM SVANidhi Scheme, he applied through the Municipal Council and received financial assistance.
Today, he successfully runs his own clothing shop, his income has increased, and he can support his family with dignity.
“I used to struggle to meet my daily expenses, but now our situation has completely changed. I want to take a higher loan under this scheme in the future to further expand my business,” said Bipin Kumar, expressing gratitude to Prime Minister Narendra Modi for the initiative.
Relief came to vulnerable and differently abled families. Shobha Devi, a resident of Kashipuram locality, and her husband Shambhu Yadav are both physically challenged.
Earlier, they depended on loans from moneylenders to run small businesses, which pushed them into financial hardship. When she came to know about the PM SVANidhi Scheme, Shobha Devi applied for a Rs 10,000 loan for self-employment.
After getting the amount, the couple started a business without relying on moneylenders. The scheme has not only provided them with financial support but has also instilled new hope and confidence to lead a self-reliant life.
Similarly, Anita, also from Kashipuram, told IANS that she availed a Rs 10,000 loan under the PM SVANidhi Scheme.
“With this amount, we are earning well from our shop and are also able to educate our children. This scheme has truly transformed our lives,” she said, praising Prime Minister Narendra Modi for introducing a scheme that empowers the poor.
Another inspiring story is that of Usha Devi, whose life once revolved around extreme hardship.
Today, she is a symbol of self-reliance, running a tea stall and earning a stable income. Usha Devi said that earlier she had no permanent source of income, making it difficult to support her family. Financial assistance under the PM SVANidhi Scheme changed the course of her life. Expressing gratitude, she said the scheme has proved to be a boon for poor families and small vendors.
Providing official figures, Sheikhpura Municipal Council Executive Officer Vinay Kumar informed that 1,092 beneficiaries have been sanctioned loans under the PM SVANidhi Scheme.
Under PM SVANidhi 1.0, beneficiaries received an initial loan of Rs 10,000. In PM SVANidhi 2.0, eligible vendors can now receive Rs 15,000, and those who repay their earlier loans on time can avail a higher loan of up to Rs 25,000. In the next phase, beneficiaries may become eligible for loans of up to Rs 2 lakh.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor