The PM SVANidhi scheme has achieved a milestone by extending its support to more than 50 lakh street vendors across the nation. Street vendors are essential to the urban informal economy and provide vital goods and services.
- The scheme, initiated by the Ministry of Housing and Urban Affairs, aims to formalize the street vending sector and create opportunities for economic growth.
- Prime Minister Narendra Modi has pushed for the expansion of the scheme, leading to revised targets.
- The scheme, launched on June 1, 2020, offers collateral-free working capital loans of up to 50 thousand rupees to urban street vendors.
MCQs
Q.: What is the main objective of the PM SVANidhi scheme?
A) To provide housing to street vendors
B) To offer free healthcare to street vendors
C) To provide collateral-free working capital loans to street vendors
D) To promote street vending as a career option
Ans : C) To provide collateral-free working capital loans to street vendors
Q.: What is the maximum amount of working capital loan offered under the PM SVANidhi scheme?
A) 10 thousand rupees
B) 25 thousand rupees
C) 50 thousand rupees
D) 1 lakh rupees
Ans : C) 50 thousand rupees
