Correct option is D
The correct answer is: (D) So that they could resume their livelihood activities that were affected largely due to the Covid-19 lockdown.
Explanation:
The PM SVANidhi (Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi) Scheme was launched by the Ministry of Housing and Urban Affairs on June 1, 2020.
It aimed to provide collateral-free working capital loans to street vendors so they could resume their businesses, which were severely impacted due to the Covid-19 lockdown.
Information Booster:
- Under this scheme, street vendors can avail an initial working capital loan of up to ₹10,000.
- On timely repayment, they become eligible for higher loan amounts of ₹20,000 and ₹50,000 in subsequent cycles.
- The interest subsidy of 7% per annum is provided on early repayment.
- Digital transactions through this scheme offer cashback incentives.
- More than 50 lakh street vendors have benefited from this scheme.
- The scheme was launched under the AtmaNirbhar Bharat Abhiyan to support the urban informal economy.
Additional Knowledge:
- As a fitting tribute to farmers: Instead, schemes like PM Kisan Samman Nidhi (PM-KISAN) are meant for farmers' welfare.
- For creating employment for nearly 2.5 lakh persons by the year 2026-27: Employment generation schemes like PMEGP (Prime Minister’s Employment Generation Programme) focus on such targets.
- For covering ready-to-eat, ready-to-cook, marine products, processed fruits and vegetables, and mozzarella cheese: The Ministry of Food Processing Industries oversees this initiative.
English
100 Questions
100 Marks
90 Mins
