Commerce Dashboard

Go Back

Ladakh 3rd among UTs in implementing scheme for street vendors

IBEF:  November 26, 2020

Ladakh has ranked third among all Union Territories in implementing the AtmaNirbhar Nidhi (PMSVANidhi) scheme of PM Street Vendor to help the significantly affected street vendors amidst COVID-19, a senior official said on Wednesday.

Mr. Ajeet Kumar Sahu, Commissioner-Secretary, Housing and Urban Development Department, Ladakh, said, “Based on its success in implementing the scheme during a review meeting chaired by Prime Minister Narendra Modi, the Ministry of Housing and Urban Affairs ranked Ladakh in the top three UTs.”

As a part of the Atmanirbhar Bharat, PMSVANidhi was launched on 1 June 2020 to support street vendors.

He said, “The scheme aims to promote collateral-free one-year working capital loans of up to Rs 10,000; encourage frequent repayment by interest subsidy at a rate of 7 percent per annum; and reward digital transaction by cashback of up to Rs 1,200 per year.”

Mr. Sahu added By March 2022, the scheme aims to cover 50 lakh street vendors across the country.

Mr. Sahu said, “The Ladakh administration and both the Autonomous Hill Development Councils made special efforts as part of the scheme to provide all the street vendors of Leh and Kargil towns with the advantage of the scheme.”

He said SVANidhi cards were issued to all the qualified street vendors.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.