Cabinet Extends PM SVANidhi Scheme Till 2030, Expands Credit Support for Street Vendors

The Union Cabinet has approved the restructuring and extension of the Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme, pushing its lending period from the earlier deadline of December 31, 2024, to March 31, 2030. 

The revised scheme carries an outlay of Rs 7,332 crore and aims to cover 1.15 crore beneficiaries, including 50 lakh new entrants.

The scheme, first launched in June 2020 to help street vendors hit by the COVID-19 pandemic, will now see an expanded scope and revised loan slabs. Under the new structure, the first tranche loan has been raised to Rs 15,000 (from Rs 10,000) and the second tranche to Rs 25,000 (from Rs 20,000), while the third tranche remains unchanged at Rs 50,000.

Implementation will be shared between the Ministry of Housing and Urban Affairs (MoHUA) and the Department of Financial Services (DFS). Banks and financial institutions will facilitate access to loans, including UPI-linked RuPay credit cards for vendors who have repaid their second tranche. The government said the credit card facility is aimed at offering quick access to funds for business and personal needs.

Also Read: Rs 13,422 Crore Disbursed To Street Vendors Under PM SVANidhi Scheme, Rajya Sabha Told | Republic World

The restructured plan also includes incentives for digital adoption, with street vendors eligible for cashback of up to Rs 1,600 on retail and wholesale transactions. Coverage of the scheme, earlier limited to statutory towns, will gradually be extended to census towns and peri-urban areas.

Beyond credit, the government has tied in capacity-building measures. These include financial literacy, digital skills, and marketing support, alongside hygiene and food safety training for street food vendors in partnership with the Food Safety and Standards Authority of India (FSSAI).

According to official data, as of July 30, 2025, over 96 lakh loans worth Rs 13,797 crore had been disbursed to 68 lakh vendors. Nearly 47 lakh beneficiaries are digitally active, having carried out more than 557 crore digital transactions.

With the extension, the government expects the scheme to widen its reach, while continuing to integrate street vendors into the formal financial system and supporting their livelihoods through structured credit access.