PM SVANidhi
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Context: Just 9.3% of loans under PM SVANidhi are offered to vendors from minority communities.
Details
- According to Ministry of Housing and Urban Affairs data, there was a decrease in the percentage of loans to minority street sellers with 10.23% in 2020-21, 9.25% in 2021-22, and an all-time low of 7.76% in 2022-23.
- The data about loans made under PM SVANidhi portrays a poor picture of minority street sellers. Although minorities account for around 20% of the entire population of the country, their participation among street vendors is said to be vast for a variety of socioeconomic reasons.
- According to Ministry data, Uttar Pradesh had the highest number of loans disbursed at 11,22,397.
- Uttar Pradesh also provided the most loans to hawkers from minority communities, at 95,032.
Keywords
Minority Community
- The Constitution of India does not define the term minority.
- The Union Government notified 6 communities under Section 2 (c) of the National Commission for Minorities (NCM), Act, 1992 as minority communities; Christians, Sikhs, Muslims, Buddhists, Parsis and Jains.
- As per the Census 2011, the percentage of minorities in the country is about 19.3% of the total population of the country. The populations of Muslims are 14.2%; Christians 2.3%; Sikhs 1.7%, Buddhists 0.7%, Jain 0.4% and Parsis 0.006%
Must Read Articles:
PM SVANidhi: https://www.iasgyan.in/daily-current-affairs/pm-svanidhi
Minorities: https://www.iasgyan.in/daily-current-affairs/minorities
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PRACTICE QUESTION Q. Consider the following Statement about the PM SVANidhi; 1. It was launched by the Union Ministry of Finance. 2. Vendors can get collateral-free working capital loans up to Rs 1, 00,000. 3. There is no eligibility criterion and it is open to all street vendors. Which of the following Statement is/are incorrect? (A) 1 and 2 only (B) 2 and 3 only (C) 1 and 3 only (D) 1, 2 and 3 Answer: D Explanation: Statement 1 is incorrect: The Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) was launched by the Ministry of Housing and Urban Affairs in June 2020. Statement 2 is incorrect: Vendors can get collateral-free working capital loans up to ₹10,000, which are repayable in monthly instalments in terms of one year. An enhanced loan of up to ₹20,000 and ₹50,000 on the second and third times respectively, on repayment of earlier loans. Statement 3 is incorrect: To avail of the loan, a vendor should: Possess a Certificate of Vending / Identity Card issued by Urban Local Bodies (ULBs). KYC documents needed: Aadhar Card / Voter’s Identity Card / Driving License / MGNREGA Card / PAN Card. |
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