Restructuring and Extension of PM SVANidhi Scheme Approved

On 27th August 2025, the Union Cabinet chaired by Prime Minister Narendra Modi approved the restructuring and extension of the Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme.

The lending period, earlier valid till December 31, 2024, has now been extended to March 31, 2030, with a total outlay of Rs. 7,332 crore.

Key Points

Beneficiary Coverage: The revised scheme will cover 1.15 crore beneficiaries, including 50 lakh new street vendors, with implementation jointly handled by the Ministry of Housing and Urban Affairs and the Department of Financial Services.
Enhanced Loan Amounts: The first tranche loan has been raised to Rs. 15,000 (from Rs. 10,000 earlier), the second tranche to Rs. 25,000 (from Rs. 20,000), while the third tranche remains unchanged at Rs. 50,000.
Digital Incentives: Vendors can earn cashback incentives of up to Rs. 1,600 on retail and wholesale digital payments.
Expanded Coverage: The scheme will be extended beyond statutory towns to census towns and peri-urban areas in a phased manner.
Capacity Building: Beneficiaries will receive training in entrepreneurship, financial literacy, digital skills, and marketing.
Convergence with Other Schemes: The ‘SVANidhi se Samriddhi’ component will be strengthened to link beneficiaries and their families with other welfare programmes, with monthly Lok Kalyan Melas to be organised for this purpose.