In a heartening development, Prime Minister Narendra Modi has praised the significant impact of the PM Swanidhi scheme, aimed at assisting street vendors, especially women, in uplifting their livelihoods. The scheme, which offers collateral-free working capital loans of up to Rs 10,000, has garnered immense success by supporting around 50 lakh street vendors to revive and expand their businesses.
Under the PM Swanidhi scheme, street vendors, including many women like Sushila Bai from Madhya Pradesh, have been empowered to scale up their traditional occupations. Sushila Bai, a bamboo basket weaver, shared her inspiring story of how the scheme transformed her life. Previously lacking access to government support, Sushila Bai received a loan of Rs 10,000, which helped her turn her ancestral occupation into a thriving business.
The scheme not only provides financial assistance but also offers incentives to promote good repayment behavior and digital transactions. With an interest subsidy of 7% per annum and cashback benefits, the scheme effectively lightens the burden of repayment, making it more accessible for street vendors. This initiative aligns with PM Modi’s vision of empowering women and fostering entrepreneurship among marginalized communities.
In his message on International Women’s Day, Prime Minister Narendra Modi extended warm greetings and celebrated the strength, courage, and resilience of women across various fields. He emphasized the government’s commitment to empowering women through initiatives spanning education, entrepreneurship, agriculture, technology, and more. PM Modi highlighted the theme of this year’s International Women’s Day, “Invest in women: Accelerate progress,” reflecting the importance of investing in women’s potential to drive social and economic progress.
As the world commemorates International Women’s Day, the success stories emerging from the PM Swanidhi scheme underscore the transformative impact of empowering women economically. Through targeted interventions and inclusive policies, the government aims to create a conducive environment for women to thrive and contribute meaningfully to Bharat’s growth trajectory. With initiatives like PM Swanidhi, the path towards gender equality and inclusive development is being paved, one success story at a time.
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