Street Vendors Urged to Tap Benefits of PM SVANidhi 2.0
TDP State president and Gajuwaka MLA Palla Srinivas Rao urged street vendors to make full use of the benefits being extended under the Lok Kalyan Mela (PM SVANidhi 2.0).
Addressing the mela organised at the Zone-6 Zonal Office on Monday, along with GVMC UCD Project Director P.M. Satyaveni, Mr. Srinivas Rao said the programme was aimed at empowering vendors financially and helping them conduct business with dignity.
“The Central and State governments have introduced several facilities such as PM SVANidhi loans, digital transaction incentives, credit cards, FSSAI certification, socio-economic surveys, and GST registration. Vendors should come forward to utilise these benefits and strengthen themselves financially,” he said.
The MLA added that Chief Minister N. Chandrababu Naidu had been rolling out various schemes to ensure that vendors secured financial support “with freedom, rights, and dignity.”
Project Director Ms. Satyaveni said the mela was part of NULM 2.0 with Central government support. “We are creating awareness of new and pending PM SVANidhi loans and taking steps for their sanction,” she said.
She explained that the revised loan slabs were ₹15,000 for the first tranche, ₹25,000 for the second, and ₹50,000 for the third. “Credit cards will be issued to vendors eligible for the third tranche and to those with existing loans,” she said.
On digital transactions, Ms. Satyaveni said regular payees would receive incentives of ₹100 per month, ₹100 every quarter, and ₹1,600 annually. “An interest subvention of 7% will also be extended to those who repay loans on time,” she added.
She said all vendors would be identified through socio-economic profiling and linked to schemes such as PM Jan Dhan Yojana, PM Suraksha Yojana, and PM Jeevan Jyoti. “These measures will not only provide financial security but also bring vendors into formal banking and digital systems,” she said.