Madhya Pradesh Tops Best Performing State in SVANidhi Scheme

July 19, 2024

The Union housing and Urban Affairs Ministry said that Madhya Pradesh is the best state in the Prime Minister SVANidhi scheme’s “Best Performing State” category. The state’s successful adoption of a micro-credit program to help urban street vendors is highlighted by this award.

Overview of the Prime Minister SVANidhi Scheme

The PM SVANidhi plan, which started in 2020, gives loans of up to ₹50,000 to street vendors in cities with no collateral. During the COVID-19 pandemic, a plan was put in place to help vendors recover from the effects of the crisis on their businesses.

Key Achievements

Madhya Pradesh’s involvement in the plan shows that it is well-managed and reached at the state level. Assam won second place in the “Best Performing States – Innovation and Best Practices Award” category, just behind Madhya Pradesh.

Awards for Urban Local Bodies (ULBs)

Cities and towns were also rewarded for how well they handled loans, in addition to the state. In this group, the Municipal Corporation of Delhi (MCD) came out on top. Bruhat Bengaluru Mahanagara Palike (BBMP) and Ahmedabad Municipal Corporation were close behind. DAY-NULM, the National Urban Livelihood Mission, was also recognized at the awards event. Kerala was ranked the highest in the “Systematic Progressive Analytical Real Time Ranking (SPARK)” category. Uttar Pradesh came in second and Rajasthan came in third.

More About Prime Minister SVANidhi

The Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) program was started by the government in June 2020 to help street sellers after COVID-19. It gives loans up to ₹10,000 with no guarantee, which must be paid back in one year. The plan’s goal is to improve people’s lives and keep their finances stable. Increasing business opportunities, over 28 lakh street vendors have gained. It also promotes online shopping. The project focuses on financial inclusion and is connected to the idea of “Aatmanirbhar Bharat.” PM Svannidhi stresses empowering the community and has a special website for people who want to apply.

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