Street vendors in Shahdol, Madhya Pradesh, are one step closer to financial independence, courtesy of PM SVANidhi enhancements launched by Narendra Modi on Friday. From Thiruvananthapuram, the PM flagged off nationwide disbursals, with Shahdol’s municipal ground hosting a vibrant ceremony for local beneficiaries.
Tailor Divya Dwivedi recounted her journey. ‘The municipal team helped with paperwork, and the loan let me launch my stitching unit. Business has boomed gradually,’ she shared, profusely thanking PM Modi.
For Gagan Burman, a grocer, Bank of India was the gateway. ‘Starting with Rs 10,000, I’ve scaled up with more funds. This scheme is a lifesaver,’ he beamed.
Attending MLA Manisha Singh called it transformative. ‘Small vendors are gaining strength; credit cards add digital ease and more perks,’ she highlighted to the media.
Nagar Palika President Ghanshyam Jaiswal announced the upgrades: Rs 15,000 initial, Rs 25,000 next, and Rs 50,000 maximum. ‘Central government’s foresight is empowering our economy’s backbone,’ he affirmed.
Beyond immediate relief, PM SVANidhi fosters self-reliance through working capital, tech integration, and incentives like 7% interest subvention. In Shahdol, this means resilient vendors contributing to local commerce. As Modi emphasized, such schemes weave informal workers into India’s growth story, ensuring no one is left behind in the pursuit of Viksit Bharat.