Madhya Pradesh has been recognized as the ‘Best Performing State’ under the Prime Minister SVANidhi scheme, which supports urban street vendors with collateral-free loans up to ₹50,000. The Union Housing and Urban Affairs Ministry announced this accolade, with Assam securing the second position in the ‘Best Performing States – Innovation and Best Practices Award’ category.
Overview of the Prime Minister SVANidhi Scheme
Launched in June 2020 amidst the COVID-19 pandemic, the PM SVANidhi scheme provides micro-credit to street vendors in urban areas to help them recover from the economic impact of the crisis. The scheme offers collateral-free loans up to ₹50,000, repayable within a year, aiming to enhance financial stability and support small businesses.
Key Achievements
Madhya Pradesh: Awarded as the top state in the PM SVANidhi scheme for its effective management and implementation.
Assam: Ranked second in the ‘Best Performing States – Innovation and Best Practices Award’ category.
Awards for Urban Local Bodies (ULBs)
Municipal Corporation of Delhi (MCD): Recognized as the best-performing ULB.
Bruhat Bengaluru Mahanagara Palike (BBMP) and Ahmedabad Municipal Corporation: Followed closely in performance.
DAY-NULM and SPARK Rankings
DAY-NULM: The National Urban Livelihood Mission received recognition.
Kerala: Ranked highest in the Systematic Progressive Analytical Real Time Ranking (SPARK) category.
Uttar Pradesh and Rajasthan: Secured second and third positions, respectively.
Additional Information
The PM SVANidhi program aligns with the ‘Aatmanirbhar Bharat’ initiative, focusing on financial inclusion and empowerment of street vendors. The scheme supports over 28 lakh vendors, promotes online shopping, and emphasizes community development through a dedicated application portal.
