Union Cabinet Extends PM SVANidhi Scheme Till 2030

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 its earlier deadline of December 31, 2024. The scheme will now continue till March 31, 2030, with a total outlay of ₹7,332 crore.

The restructured version is designed to cover 1.15 crore beneficiaries, including 50 lakh new entrants. Implementation will be jointly handled by the Ministry of Housing & Urban Affairs (MoHUA) and the Department of Financial Services (DFS), with the latter overseeing credit access through banks and financial institutions.

Enhanced Loan and Credit Facilities

The revamped scheme brings significant changes in credit support. The first tranche loan has been increased from ₹10,000 to ₹15,000, while the second tranche has been raised from ₹20,000 to ₹25,000. The third tranche remains at ₹50,000. Additionally, beneficiaries who successfully repay their second loan will be eligible for a UPI-linked RuPay Credit Card, ensuring instant access to credit for both business and personal needs.

To promote digital adoption, vendors can also avail cashback incentives of up to ₹1,600 on retail and wholesale transactions made digitally.

Expanded Coverage and Capacity Building

The scope of the scheme has been widened beyond statutory towns to include census towns and peri-urban areas in a phased manner. Alongside financial aid, the scheme emphasizes entrepreneurship training, financial literacy, digital skills, and marketing support for vendors. Street food vendors, in particular, will receive hygiene and food safety training in partnership with the Food Safety and Standards Authority of India (FSSAI).

Holistic Welfare for Families

The ‘SVANidhi se Samriddhi’ component will be further strengthened through monthly Lok Kalyan Melas to ensure that street vendors and their families gain access to various central government schemes. The focus is on achieving saturation-level welfare coverage for all beneficiaries.

A Proven Success Story

Launched on June 1, 2020, at the height of the COVID-19 pandemic, PM SVANidhi was introduced to provide much-needed relief to street vendors who had been severely impacted. Over time, it has evolved into more than just a financial support system, giving vendors a formal identity and recognition for their role in the economy.

As of July 30, 2025, the scheme has already achieved remarkable results: more than 96 lakh loans amounting to ₹13,797 crore have been disbursed to over 68 lakh vendors. Nearly 47 lakh beneficiaries are digitally active, having conducted over 557 crore transactions worth ₹6.09 lakh crore, and collectively earning ₹241 crore as digital cashback. Under the SVANidhi se Samriddhi initiative, 46 lakh vendors across 3,564 Urban Local Bodies (ULBs) have been profiled, resulting in over 1.38 crore government scheme sanctions.

National Recognition

The scheme has earned accolades for its impact. It won the Prime Minister’s Award for Excellence in Public Administration in 2023 under the Innovation (Central Level) category and the Silver Award for Excellence in Government Process Re-engineering for Digital Transformation in 2022.

Towards Inclusive Urban Growth

With its extension till 2030, PM SVANidhi aims to provide a reliable and sustained source of finance to support the business expansion of street vendors, while simultaneously driving their socio-economic upliftment. The government envisions the scheme not only as a tool for livelihood support but also as a catalyst for transforming urban spaces into vibrant, self-sustaining ecosystems.

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