Govt to provide credit facility for street vendors
By MYBRANDBOOK
Union IT and Telecom Minister Ashwini Vaishnaw said that the government will enhance its focus on providing micro-credit facility in the range of Rs 3,000-5,000 to street vendors in 2023, with the help of digital technologies.
The minister said, “In 2023 there will be a big focus on providing credit facilities to street vendors in a simplified manner to meet small credit requirements of Rs 3,000-5,000.” He added that the country will see the roll out of indigenously developed 4G and 5G technologies this year.
The PM Street Vendor’s Atma Nirbhar Nidhi (SVANidhi) Scheme was launched in 2020 as a Micro-Credit facility which aims to empower street vendors to recover losses incurred as a result of the COVID-19 pandemic. PM SVANidhi offers affordable collateral-free loans to street vendors.
While speaking at Digital India Awards, Ashwini Vaishnaw also said that very soon the country will witness the setting up of an electronic chip manufacturing plant in the country in line with PM Modi’s vision to make India self-reliant in the field of technology.
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