SVANidhi se Samriddhi program launched in additional 126 cities

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SVANidhi se Samriddhi program launched in additional 126 cities

  • The Ministry of Housing and Urban Affairs (MoHUA) today launched ‘SVANidhi se Samriddhi’ program in additional 126 cities across 14 States/ UTs, in the presence of senior officials of States/UTs and various Central Ministries.

Prime Minister Street Vendors AtmaNirbhar Nidhi (PM SVANidhi)

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The scheme aims to not only extend loans to street vendors, but also aims for their holistic development and economic upliftment.

  • It is a Central Sector Scheme.
  • The scheme aims to provide an affordable working capital loan to Street Vendors and has successfully crossed the 30 Lakh mark.
  • ‘‘SVANidhi se Samriddhi’ program was started to provide social security benefits to street vendors for their holistic development and socio-economic upliftment.

About SVANidhi se Samriddhi program

An additional program of PMSVANidhi was launched on 4th January 2021 in 125 cities in Phase 1. It will target 20 Lakh scheme sanctions for FY 2022-23 and the remaining cities would be gradually added to the program.

  • It will cover approximately 35 Lakh Street vendors and their families.
  • 22.5 lakh scheme sanctions have been extended to them including 16 lakh insurance benefits under Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeeban Jyoti Yojana and 2.7 Lakh pension benefits under Pradhan Mantri Shram Yogi Maandhan Yojana
  • Considering the success of Phase I, MoHUA launched the program expansion to additional 126 cities with an aim to cover 28 Lakh Street vendors and their families.

Helpful during Pandemic

Secretary, MoHUA in his address today stated that in one year of its implementation, despite the challenges posed due to COVID-19 pandemic in the year 2020-21.

  • The program was successful in providing social security benefits to the street vendor families.
  • It protected them from any risks and vulnerabilities of life and livelihoods.
  • There is a need for participating Central Ministries and States/UTs to strive towards achieving holistic development of street vendors of our cities and once again make this program a success.

2-fold achievement of the program

  1. A central database of Street vendors and their families is created on various socio-economic indicators.
  2. A first of its kind inter-ministerial convergence platform is established between various Central Ministries to extend the safety net of welfare schemes to street vendor households.

Other objectives of the program

The socio-economic profiling of PMSVANidhi beneficiaries and their families is conducted to assess their eligibility for 8 Government of India’s welfare schemes and facilitate sanctions of eligible schemes.

  • Quality Council of India (QCI) is the implementing partner for the programme.
  • These schemes include:
    • Pradhan Mantri Jeevan Jyoti Bima Yojana,
    • PM Suraksha Bima Yojana,
    • Pradhan Mantri Jan Dhan Yojana,
    • Registration under Building and other Constructions Workers (Regulation of Employment and Conditions of Service) Act (BOCW),
    • Pradhan Mantri Shram Yogi Maandhan Yojana,
    • National Food Security Act (NFSA) portability benefit – One Nation One Ration Card (ONORC),
    • Janani Suraksha Yojana,
    • Pradhan Mantri Matru Vandana Yojana (PMMVY).

Exam Track

Prelims Takeaway

  • PM SVANidhi programme
  • SVANidhi se Samriddhi program
  • Quality Council of India (QCI)

Mains Takeaway

Q. Discuss how the PM SVANidhi programme is one of its kind initiative and how it will help overcome the problem of social security which is not available to the informal sector.