PM SVANidhi Scheme Extended Till 2030 With ₹7,332 Crore Outlay To Benefit 1.15 Crore Vendors

The Union Cabinet, led by Prime Minister Shri Narendra Modi, has cleared a major revamp of the Prime Minister Street Vendors’ AtmaNirbhar Nidhi (PM SVANidhi) scheme. Designed to support urban vendors, the initiative will now run until 31 March 2030 with an allocation of ₹7,332 crore. The refreshed framework aims to benefit around 1.15 crore people, including 50 lakh new beneficiaries, offering wider credit support and stronger digital integration.

Expanded Credit And Digital Access

Loan limits under the scheme have been revised upward, with the first tranche raised to ₹15,000 and the second to ₹25,000, while the third remains at ₹50,000. Vendors who successfully repay their second loan will also be able to access a UPI-enabled RuPay credit card for immediate business and personal financing. 

To encourage cashless trade, cashback rewards of up to ₹1,600 will be available on retail and wholesale transactions. Coverage is being extended beyond statutory towns to census towns and peri-urban areas in a phased manner.

Focus On Skills And Welfare

Alongside finance, the scheme will strengthen training in entrepreneurship, digital use, and marketing. Street food vendors will also receive hygiene and safety sessions in partnership with FSSAI. A stronger push will be given to the ‘SVANidhi se Samriddhi’ component through monthly Lok Kalyan Melas, aimed at linking families to other government welfare schemes. Implementation will be jointly handled by the Ministry of Housing & Urban Affairs and the Department of Financial Services, with the latter coordinating loan and card distribution through banks.

Performance And Recognition

Since its launch on 1 June 2020 in response to the COVID-19 disruption, PM SVANidhi has grown far beyond its original scope. By 30 July 2025, more than 96 lakh loans worth ₹13,797 crore had been extended to 68 lakh vendors. Nearly 47 lakh of them are digitally active, conducting over 557 crore online transactions valued at ₹6.09 lakh crore, with cashback benefits of ₹241 crore. 

The scheme has profiled 46 lakh vendors across 3,564 urban bodies, leading to 1.38 crore welfare sanctions. It has also won the Prime Minister’s Award for Excellence in Public Administration (2023) and a Silver Award (2022) for digital transformation.

Read More: Govt to Use Amazon, Flipkart Data for Inflation Overhaul, to Introduce Services Index!

Conclusion

With its extension to 2030, higher credit access, digital tools, and skill-building measures, PM SVANidhi is set to empower street vendors while boosting inclusive economic growth. The restructured scheme not only enhances livelihoods but also aims to transform urban areas into thriving, self-reliant ecosystems.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.