Cabinet Extends PM SVANidhi Till 2030 With ₹7,332 Cr Outlay, 1.15 Cr Beneficiaries

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the restructuring and extension of the Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme. The lending period, which was earlier scheduled to end on December 31, 2024, has now been extended until March 31, 2030, with an overall financial outlay of ₹7,332 crore.

The restructured scheme is expected to benefit 1.15 crore street vendors, including 50 lakh new entrants, ensuring greater inclusivity and long-term sustainability.

Joint Implementation Framework

The scheme will be jointly implemented by the Ministry of Housing & Urban Affairs (MoHUA) and the Department of Financial Services (DFS). While MoHUA will focus on policy direction and convergence with welfare initiatives, DFS will coordinate with banks, financial institutions, and ground-level functionaries to facilitate easy access to loans and credit cards.

Enhanced Loan Structure & Digital Empowerment

The restructured PM SVANidhi introduces revised loan slabs to further support small businesses:

• First tranche loan: Increased from ₹10,000 to ₹15,000.

• Second tranche loan: Increased from ₹20,000 to ₹25,000.

• Third tranche loan: Continues at ₹50,000.

In addition, beneficiaries repaying their second loan on time will be eligible for a UPI-linked RuPay Credit Card, providing them with immediate access to credit for both business and emergency personal needs.

To promote digital adoption, vendors can now earn cashback incentives of up to ₹1,600 on retail and wholesale digital transactions. This feature encourages vendors to embrace digital payments while broadening their customer base.

Wider Coverage & Skill Development

The scheme’s reach is being expanded beyond statutory towns to cover census towns and peri-urban areas in a phased manner. Alongside financial inclusion, the scheme also emphasises capacity-building initiatives such as:

• Entrepreneurship, financial literacy, and digital training.

• Marketing skill development to help vendors expand their businesses.

• Standard hygiene and food safety training for street food vendors, in partnership with FSSAI, to improve health standards and consumer trust.

Welfare Through ‘SVANidhi se Samriddhi’

The ‘SVANidhi se Samriddhi’ component will be further strengthened with monthly Lok Kalyan Melas, aimed at saturating street vendor households with benefits from other Government of India schemes. This will extend the benefits of healthcare, insurance, pensions, housing, and education to vendors’ families, ensuring holistic socio-economic development.

Journey Since 2020: Transforming Street Vending

Launched on June 1, 2020, in response to the COVID-19 crisis, PM SVANidhi initially sought to provide working capital loans to street vendors who had faced unprecedented disruptions. Over time, the scheme has become a transformational vehicle for financial inclusion, formal recognition, and digital empowerment of India’s urban informal sector.

As of July 30, 2025, the scheme has achieved remarkable milestones:

• 96 lakh loans disbursed, worth ₹13,797 crore, to 68 lakh street vendors.

• Nearly 47 lakh digitally active beneficiaries conducting over 557 crore transactions worth ₹6.09 lakh crore, earning ₹241 crore cashback.

• Under ‘SVANidhi se Samriddhi’, profiling of 46 lakh beneficiaries across 3,564 Urban Local Bodies (ULBs) has enabled over 1.38 crore scheme sanctions across government programmes.

National Recognition

PM SVANidhi has received wide acclaim for its innovation and impact. It won the Prime Minister’s Award for Excellence in Public Administration (2023) in the category of Innovation (Central Level) and the Silver Award for Excellence in Government Process Re-engineering for Digital Transformation (2022).

A Roadmap for Inclusive Growth

The extension of PM SVANidhi till 2030 is expected to provide street vendors with reliable and affordable access to finance, capacity-building, and welfare benefits, while also supporting urban regeneration.

By formalising the role of street vendors in the urban economy, the scheme not only empowers livelihoods but also transforms Indian cities into vibrant, inclusive, and self-sustaining ecosystems.