Govt focused on creating next-gen infra, empowering street vendors: PM Modi

New Delhi, Aug 27 (IANS) Prime Minister Narendra Modi on Wednesday said that the government’s focus on connectivity and next-gen infrastructure is reflected yet again in the Cabinet decision pertaining to multi-tracking of three projects benefitting Karnataka, Telangana, Bihar as well as Assam and “for a new railway line in remote areas of Kutch in Gujarat”.

The Union Cabinet, chaired by PM Modi, has approved four railway projects with a total investment of Rs 12,328 crore aimed at ensuring seamless and faster transportation of both passengers and goods.

The projects include Deshalpar - Hajipir - Luna and Vayor - Lakhpat New Line, Secunderabad (Sanathnagar) - Wadi 3rd and 4th Line, Bhagalpur - Jamalpur 3rd line and Furkating - New Tinsukia Doubling.

The four projects covering 13 districts across Gujarat, Karnataka, Telangana, Bihar and Assam will increase the existing network of Indian Railways by 565 km. These initiatives will provide connectivity and improve travel convenience, besides reducing logistics costs and decreasing dependence on oil imports. Additionally, the projects will contribute to lower CO2 emissions, thereby supporting sustainable and efficient rail operations.

PM Modi further said in a post on X that “We are committed to making our street vendor brothers and sisters across the country self-reliant”.

“In this direction, today, the PM SVANidhi scheme has been approved to be extended until March 31, 2030. I am confident that this will prove helpful in bringing about a significant change in their lives,” the Prime Minister added.

The Cabinet has approved the restructuring and extension of the Prime Minister’s Street Vendors’ AtmaNirbhar Nidhi (PM SVANidhi) Scheme until March 31, 2030, with a total outlay of Rs 7,332 crore, with the restructured scheme aiming to benefit 1.15 crore beneficiaries, including 50 lakh new.

The implementation of the scheme would be the joint responsibility of the Ministry of Housing and Urban Affairs and the Department of Financial Services (DFS), with the latter being responsible for facilitating access to credit cards through banks, financial institutions and their ground-level functionaries.

The key features of the restructured scheme include enhanced loan amounts across the first and second tranches, provision of UPI-linked RuPay Credit Card for beneficiaries who have repaid the second loan, and digital cashback incentives for retail and wholesale transactions. The scheme’s coverage is being expanded beyond statutory towns to census towns, peri-urban areas, etc., in a graded manner.

The enhanced loan structure includes first tranche loans increased up to Rs 15,000 (from Rs 10,000) and second tranche loans increased up to Rs 25,000 (from Rs 20,000), while the third tranche remains unchanged at Rs 50,000.

—IANS

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