In a significant step towards uplifting the street vendors and boosting entrepreneurship, Uttar Pradesh Chief Minister Yogi Adityanath recently distributed loans to 11,000 beneficiaries under the ‘Pradhan Mantri Swanidhi’ and ‘Self Help Group Loan Scheme’. The event took place at Lok Bhavan in the vibrant district of Lucknow. This proactive approach reflects the commitment of the double-engine government to support the grassroots economy.
Strengthening Small Business Ventures
Addressing the program, Chief Minister Yogi Adityanath highlighted the unwavering commitment of his administration to stand by the street vendors and the economically disadvantaged sections of society. Through initiatives like ‘Pradhan Mantri Swanidhi’, the government aims to provide a strong foundation for these small business ventures. The Chief Minister emphasized that these efforts are integral to driving economic growth from the ground up.
A Safety Net for Street Vendors
One of the remarkable aspects of the ‘PM Swanidhi Yojana’ is the provision of an insurance cover of ₹5 lakhs for the street vendors associated with the scheme. This safety net is designed to offer financial security to those who often face challenges and uncertainties in their daily operations. By extending this safety net, the government aims to encourage more individuals to participate in the scheme, leading to a more vibrant local economy.
The ‘Self Help Group Loan Scheme’ is another pivotal step towards fostering an entrepreneurial spirit among the masses. By providing loans and financial support to self-help groups, the government is enabling them to establish and expand their businesses. This approach not only empowers individuals but also contributes to job creation and overall economic development.
