Meeting of National Association of Street Vendors highlights their contribution to economy

Business Governance Headlines

The 16th meeting of National Association of Street Vendors of India (NASVI) was held with with the theme, ‘From Encroachers to Self-Employed’.  Hardeep S Puri, the Minister for Housing and Urban Affairs, addressed the meeting highlighting that that the street vendors have been an essential part of the economic growth story of India. He said they are self-employed and have been contributing in the collective dream of a ‘new India’.

Puri also appreciated the street vendors for their contribution to the economic progress of India. He said success stories of street vendors will be highlighted. He mentioned that the PM SVANidhi scheme that was launched on 1 June 2020 by Prime Minister Narendra Modi  is meant to provide self-mployment, self-sustenance and self-confidence.

He asked all states, municipalities, urban local bodies to celebrate SVANidhi Mahotsav ensuring the active participation of street vendors. The Minister mentioned that the street vendors had been provided capital working loans for them to resume their businesses that were hit during the pandemic. More than 30 lakh street vendors have been provided micro-credits of total Rs. 3,661 crores as of July 11, 2022.

He added that the scheme has been designed to offer collateral-free working capital loans for street vendors to help them plan their business expansion.  Meanwhile the NASVI requested Puri for setting up of grievances committees. The minister assured that very soon such committees will be formed.

Leave a Reply

Your email address will not be published. Required fields are marked *