Government will insist on providing micro-credit facilities to street vendors in 2023

Good news has emerged for small businessmen like street vendors. In fact, Union IT and Telecom Minister Ashwini Vaishnav said on Saturday (January 7) that the government will lay special emphasis on providing micro loan facilities of Rs 3,000 to Rs 5,000 to street vendors in the year 2023 with the help of digital technologies.
At the Digital India Awards ceremony, Ashwini Vaishnav said that Prime Minister Narendra Modi has allocated around Rs 52,000 crore to provide 4G and 5G telecommunication services to all parts of the country to digitally connect every citizen. He further said that the country will see the implementation of indigenously developed 4G and 5G technologies this year.
Ashwini Vaishnav said, “In 2023, special attention will be given to provide micro-credit facility in a simple way to meet the small loan needs of street vendors in the range of Rs 3,000 to 5,000.” He said that according to the vision of Prime Minister Modi to make India self-reliant in the technology sector, an electronic chip manufacturing plant will be established very soon in the country.
Pradhan Mantri Street Vendors Atmanirbhar Nidhi (SVANidhi) scheme was launched in June 2020 as a micro-credit facility. The objective of this scheme is to compensate for the loss caused to the street vendors due to the Kovid-19 pandemic and to empower them. The government has a target of giving benefits under this scheme to 42 lakh street vendors by December 2024.