PM SVANidhi Scheme | 19 Jul 2024
Why in News?
According to the Union housing and urban affairs ministry, Madhya Pradesh has secured the first place under the ‘Best Performing State’ category in the Prime Minister SVANidhi scheme.
Key Points
- After Madhya Pradesh, Assam has been ranked second in the ‘Best Performing States- Innovation and Best Practices Award’ category.
- In the ‘Best Performing ULBs – Loan Performance with mega and million plus cities’ category, the Municipal Corporation of Delhi (MCD) has received the first place, followed by the Bruhat Bengaluru Mahanagara Palike (BBMP) and the Ahmedabad Municipal Corporation.
- The awards in the the National Urban Livelihood Mission (DAY-NULM) was also announced, with Kerala securing the first place in the category of ‘Systematic Progressive Analytical Real Time Ranking (SPARK), followed by Uttar Pradesh and Rajasthan.
PM SVANidhi Scheme
- Prime Minister Street Vendors AtmaNirbhar Nidhi (PM SVANidhi) was announced as a part of the Economic Stimulus-II under the Atmanirbhar Bharat Abhiyan.
- It has been implemented since 1st June 2020, for providing affordable working capital loans to street vendors to resume their livelihoods that have been adversely affected due to Covid-19 lockdowns, with a sanctioned budget of Rs. 700 crore.
- Aims:
- To benefit over 50 lakh street vendors who had been vending on or before 24th March 2020, in urban areas including those from surrounding peri-urban/rural areas.
- To promote digital transactions through cash-back incentives up to an amount of Rs. 1,200 per annum.
Deendayal Antyodaya Yojana-National Urban Livelihoods Mission (DAY-NULM)
- The mission was launched in 2014 and is being implemented by the Urban Ministry of Housing & Poverty Alleviation.
- It aims to uplift urban poor by enhancing sustainable livelihood opportunities through skill development.
- It is a Centrally Sponsored Scheme.
- Funding will be shared between the Centre and the States in the ratio of 75:25. For North Eastern and Special Category – the ratio will be 90:10.
- Its intended beneficiaries are urban poor (street vendors, slum dwellers, homeless, rag pickers), unemployed and differently-abled.