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POLICY REVIEW
initiative of GoI was launched corrective wherever required. supported recovery of
on 1 June, 2020 to support The components of the urban economy and ensured
st
one of the most vulnerable scheme were modified and supply of essential goods
groups needing immediate added from time to time on during hard time of COVID
relief for their livelihood- the the basis of feedback from when the city life came to an
urban street vendors- who field. The states and urban almost complete halt. The
were adversely affected local bodies (ULBs) took keen performance of PMSVANidhi
by outbreak of COVID interest and the four layers in terms of scale, speed and
i
19 . The scheme provided (neighborhood, city, states outcome is fairly high and
extra liquidity in the small and central) of government reaffirms commitment and
capital base of urban street showed their ability to join dedication of a range of
vendors /hawkers (USV) hands in the interest of poor stakeholders:
and developed a national in a team India spirit.
data base, collateral-free Outreach
working capital loan under EXTENSION OF SCHEME 1. Outreach of the scheme
three tranche of Rs. 10000 AND SCOPE OF WORK with applications from
each, Rs. 20000 and Rs. 50000 Owing to its performance, 85% of five million USVs
subject to payment of earlier the PMSVANidhi has been shows coverage of target
tranche, interest subsidy further extended by Cabinet group across the urban
(7%) transferred in the USVs Committee on Economic centers in the country
account quarterly, incentives Affairs (CCEA) on 27 April
up to Rs. 200 per/month on 2022 from March 2022 Chart 1: Outreach of
receiving digital payments till December 2024 with PMSVANidhi
from customers and access additional interest subvention
to social security (Insurance, of Rs.30000 million . At
iii
health, etc.as per prevailing the same time, scheme
schemes) . needs further consolidation
ii
The scheme was conceived during next fifteen months
in a record time during the to expedite its coverage and
first wave of COVID19. The facilitation as expected.
scheme was deliberated at PERFORMANCE
the highest level and carried ANALYSES OF
inspiration of Prime Minister Source: MoHUA, 28th June, 2022
with a concern on livelihood PMSVANidhi
of urban street vendors The scheme, while covering (Chart 1).
and provide them financial one of the most vulnerable 2. It is also noted that as
support. The package of sections of urban society on 13 September 2022,
support was prepared which has sizable presence of the scheme has excellent
with intensive discussions five million micro enterprises outreach to statutory
involving bankers, states with a fairly high share of towns and has covered 98
and other urban sector women entrepreneurs and percent statutory towns
stakeholders. The MoHUA their household in urban (STs) being 4802 . The
v
adopted a dynamic process areas, shows remarkable number of ULBs covered
iv
of regular monitoring, performance . It has reduced under scheme is 4602 or
hand holding feedback and intensity of urban poverty, 96 percent of all STs, as
54 HUDCO-HSMI Publication
