Gujarat Shines in PM SVANidhi: Empowering Street Vendors

Gandhinagar, Gujarat — Gujarat has consistently outperformed expectations in the successful implementation of Prime Minister Narendra Modi’s ambitious PM SVANidhi Scheme. The state achieved its first target of providing loan facilities to 3 lakh beneficiaries by July 2023 on time. Subsequently, it surpassed the second target of reaching 4 lakh beneficiaries by October 2024, securing the second position nationally.

In recognition of this excellent performance, the Central Government increased Gujarat’s target to providing loans to 5.20 lakh beneficiaries in November 2024. Gujarat has successfully achieved 92.14% of this revised target, and in this regard, it ranks fourth at the national level. So far, a total of 4,79,141 street vendors have benefited from the scheme. They have been provided with working capital loans and various types of support, which have improved their livelihoods and helped them become more economically empowered and stable.

Loan Delivered; Life Empowered

The Government of India has supported Gujarat’s efforts in the successful implementation of the PM SVANidhi Scheme by providing ₹30.47 crore in interest subsidies. This scheme is being operated under 100% central funding. This financial assistance has reduced the repayment burden on vendors, enabling more people to participate in the scheme.

So far, over 4.79 lakh vendors in Gujarat have received the first loan installment, while 1.71 lakh vendors have received the second installment, and 42,176 vendors have been given the third installment. Under the leadership of Chief Minister Bhupendra Patel, the Gujarat government has ensured timely loan distribution and financial inclusion for all street vendors by organizing targeted loan disbursement camps, digital literacy programs, and collaborating with financial institutions.

Digital, Dignified, Determined – Gujarat’s SVANidhi Drive

Gujarat has placed a strong emphasis on digital inclusion and financial literacy for street vendors under the PM SVANidhi Scheme. The state regularly conducts digital literacy camps, uses penny drop transactions to familiarize vendors with real-time payment systems, and hosts mega disbursement camps to encourage wider participation and outreach. These initiatives guarantee smooth onboarding and timely delivery of benefits. Resulting street vendors received total Rs. 15.87/- Cr. Cash Back using digital transaction. 

Additionally, Gujarat’s success is supported by robust institutional collaboration with the State Level Bankers’ Committee (SLBC) and various financial institutions. Designated loan disbursement days on Fridays and Saturdays ensure quick, predictable access to loans for street vendors. Special drives and onboarding efforts across all Urban Local Bodies (ULBs) ensure that no vendor is left behind, facilitating comprehensive coverage and inclusion.

Transforming Lives: Gujarat’s Path to Economic Empowerment for Street Vendors

Gujarat’s remarkable success under the PM SVANidhi Scheme is a shining example of the state’s unwavering commitment to street vendors and their empowerment. Through the effective use of digital technologies, promotion of financial inclusion, and active collaboration with various key stakeholders, the Gujarat government has ensured that thousands of street vendors gain access to essential resources and are able to strengthen and grow their businesses. Through these collective efforts, Gujarat has demonstrated that capable governance at the state level can not only transform lives but also empower communities and take strong steps toward economic development from the grassroots.