Govt To Focus On Micro Credit Facility For Street Vendors In 2023 Telecom Minister Ashwini Vaishnaw

Govt To Focus On Micro Credit Facility For Street Vendors In 2023 Telecom Minister Ashwini Vaishnaw

The government will enhance its focus on providing micro-credit facility in the range of Rs 3,000-5,000 to street vendors in 2023, with the help of digital technologies, Union IT and Telecom Minister Ashwini Vaishnaw said on Saturday.

While speaking at Digital India Awards, Vaishnaw said that Prime Minister Narendra Modi has allocated around Rs 52,000 crore for taking 4G and 5G services across all nooks and corners of the country for digitally connecting every citizen.

Also Read: BSNL To Start 5G Services In 2024, Says Telecom Minister Ashwini Vaishnaw

“In 2023 there will be a big focus on providing credit facilities to street vendors in a simplified manner to meet small credit requirements of Rs 3,000-5,000,” Vaishnaw said.

The minister said that the country will see the roll out of indigenously developed 4G and 5G technologies this year.

Also Read: India’s GDP Likely To Grow At 7 Per Cent In FY23: First Advance Estimates

He said that very soon the country will witness the setting up of an electronic chip manufacturing plant in the country in line with PM Modi’s vision to make India self-reliant in the field of technology.

Also Read: Budget 2023. Govt May Bring Incentive Scheme To Boost Local Chip Manufacturing: Report

The PM Street Vendor’s Atma Nirbhar Nidhi (SVANidhi) Scheme was launched in June 2020 as a Micro-Credit facility which aims to empower street vendors to recover losses incurred as a result of the COVID-19 pandemic.

Also Read: Looking Forward To Helping India Realize Digital Vision: Microsoft CEO After Meeting With PM Modi

Through PM SVANidhi, affordable collateral-free loans are given to street vendors.

(This story is published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)

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