India, Aug. 28 -- The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the restructuring and extension of the Prime Minister Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) Scheme beyond December 31, 2024. The scheme will now run until March 31, 2030, with a total outlay of Rs 7,332 crore. It is expected to benefit 1.15 crore beneficiaries, including 50 lakh new street vendors.
The Ministry of Housing & Urban Affairs (MoHUA) and the Department of Financial Services (DFS) will jointly implement the scheme. While MoHUA will oversee overall implementation, DFS will facilitate credit access through banks and financial institutions.
Key changes under the restructured scheme include higher loan amounts—up to Rs 15,000 ...