The Union Ministry of Housing and Urban Affairs said Madhya Pradesh is the best state in the ‘Best Performing State’ category of Pradhan Mantri Swanidhi Yojana. The award highlights the state’s successful adoption of microcredit programs to support urban street vendors.
Overview of Pradhan Mantri Swanidhi Yojana
The PM Swanidhi scheme, launched in 2020, offers loans of up to Rs 50,000 without any collateral to street vendors in cities. During the COVID-19 pandemic, a plan was put in place to help sellers overcome the effects of the crisis on their businesses.
Main achievements
Madhya Pradesh’s participation in the scheme shows that it is well managed and has reached the state level. Assam bagged the second position in the “Best Performing State: Innovation and Best Practices Award” category, just behind Madhya Pradesh.
Awards for Urban Local Entities (ULB)
In addition to the state, cities and towns were also rewarded for their role in debt management. In this group, the Municipal Corporation of Delhi (MCD) remained on top. Bruhat Bengaluru Municipal Corporation (BBMP) and Ahmedabad Municipal Corporation were right behind. DAY-NULM, National Urban Livelihood Mission was also recognized at the award ceremony. Kerala ranked highest in the “Systematic Real-Time Progressive Analytical Ranking (SPARK)” category. Uttar Pradesh came second and Rajasthan came third.
Learn more about Prime Minister Swanidhi
To help street vendors post Covid-19, the government launched the Prime Minister’s Self-Reliant Fund for Street Vendors (PM SVANidhi) scheme in June 2020. It provides loans of up to Rs 10,000 without any collateral, which must be repaid in a anus. The plan aims to improve people’s lives and keep their finances stable. More than 28 lakh street vendors have business opportunities. This also promotes online shopping. The project focuses on financial inclusion and is linked to the idea of a “self-reliant India”. PM Swanidhi focuses on empowering the community and also has a special website for those who wish to apply.
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