Budget 2024: FM Sitharaman announces PM SVANIDHI to aid 78 Lakh Street Vendors

The Union Finance Minister, Nirmala Sitharaman, has announced that the PM SVANIDHI initiative, a flagship program focusing on street vendors, has successfully extended credit assistance to 78 lakh street vendors across the nation. Among them, 2.3 lakh vendors have received credit for the third time. Additionally, the PM JANMAN Yojana has been reaching out to Particularly Vulnerable Tribal Groups, while the PM Vishakarma Yojana provides comprehensive support to artisans and craftspeople. The scheme for the empowerment of Divyang and transgender individuals reflects the government's commitment to inclusivity, leaving no one behind. These updates were shared during the presentation of the Interim Budget for 2024-25.

Significantly, 2.3 lakh street vendors have successfully availed credit for the third time, underscoring the scheme's effectiveness and long-term viability, as stated by the Finance Minister. PM SVANIDHI, an acronym for Prime Minister’s Street Vendor’s AtmaNirbhar Nidhi, has played a crucial role in providing financial assistance to the street vending community, enabling them to sustain and expand their businesses. Beyond PM SVANIDHI, Sitharaman also highlighted the positive impact of PM JANMAN Yojana, specifically designed for Particularly Vulnerable Tribal Groups (PVTGs), with the aim of uplifting these marginalized communities by offering support and opportunities for socio-economic development.

Additionally, the Finance Minister emphasized the PM Vishakarma Yojana, which is crafted to offer comprehensive support to artisans and craftspeople. This initiative recognizes the significance of preserving and promoting traditional crafts, thereby contributing to the holistic development of the artisan community.

Another significant mention in the Interim Budget was the Scheme for the Empowerment of Divyang (Persons with Disabilities) and transgender people. Sitharaman emphasized the Government’s commitment to leaving no one behind, underscoring the need for inclusive policies that address the unique challenges faced by these communities. The scheme aims to empower Divyang and transgender individuals by creating opportunities for education, employment, and overall societal integration.