PM SVANidhi Scheme Extended Till 2030 with Enhanced Loan Benefits

The Modi government has provided a major relief to street vendors and small business owners by extending the PM SVANidhi (Prime Minister Street Vendor’s AtmaNirbhar Nidhi) Scheme till March 31, 2030. The decision was taken in the cabinet meeting held on August 27. The government will spend ₹7,332 crore on this scheme.

According to the official statement, the scheme will benefit approximately 1.15 crore people, including 50 lakh new beneficiaries.

Updated Loan Structure Under PM SVANidhi:

• First loan installment increased from ₹10,000 to ₹15,000.
• Second installment increased from ₹20,000 to ₹25,000.
• Third installment remains at ₹50,000.

New Benefits Introduced:

• Vendors repaying the second installment on time will now receive a RuPay credit card linked with UPI. This will allow instant access to funds for business expansion or personal use.
• The government has also decided to promote digital transactions. Vendors can now receive up to ₹1,600 cashback on wholesale and retail digital payments.

Additional Support – Training & Skill Development:

• Street food vendors will receive hygiene and food safety training with assistance from FSSAI (Food Safety and Standards Authority of India).
• Vendors will also be provided training in entrepreneurship, digital skills, and marketing to help them expand their business operations.