Govt Announces Special Credit Facility For 50 Lakh Street Vendors Worth Rs 5k Crore

In the second tranche of announcements towards the Aatma Nirbhar Bharat Package as relief towards the COVID-19 crisis, Finance Minister Nirmala Sitharaman on Thursday announced a special credit facility of Rs 5,000 crore for street vendors which will be launched by the government within a month.

Sitharaman said the scheme will facilitate easy access to credit for street vendors who have been largely affected by the nationwide lockdown. Around 50 lakh street vendors are expected to benefit from this scheme as they restart their businesses once the lockdown is lifted.

Initial working capital of up to Rs 10,000 per person will be made available under this facility, the finance minister added.