FM Nirmala Sitharaman announces Rs 5,000 crore credit facility for street vendors

The government will launch a special scheme within a month to facilitate easy access to credit for street vendors to offset the adverse impact on livelihoods of street vendors.
A food vendor selling tomatoes on the street, pushes along his cart, during a nationwide lockdown in India to slow the spread of Covid-19, in Dharavi.(Reuters file photo)
A food vendor selling tomatoes on the street, pushes along his cart, during a nationwide lockdown in India to slow the spread of Covid-19, in Dharavi.(Reuters file photo)
Updated on May 14, 2020 05:40 PM IST
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Hindustan Times, New Delhi | By hindustantimes.com | Edited by Sabir Hussain

Union finance minister Nirmala Sitharaman on Thursday announced a Rs 5,000 crore credit facility for 50 lakh street vendors.

“The government will support nearly 50 lakh street vendors with Rs 5,000 crore special credit facility,” Sitharaman she said in an address to the media on the government’s Rs 20 lakh crore economic package.

The government will launch a special scheme within a month to facilitate easy access to credit for street vendors to offset the adverse impact on livelihoods of street vendors.

The credit facility will have an initial working capital of up to Rs 10,000 cr.

Sitharaman said the scheme will provide liquidity of Rs 50,000 cr.

Earlier, she said Thursday that the centre has permitted state governments to utilise State Disaster Response Fund for setting up shelter for migrants.

“Centre has permitted state governments to utilise SDRF for setting up shelter for migrants and providing them food, water etc...We are conscious, we are attending to the migrants and giving them in various different ways,” she said.

The government had come under fire from the opposition after the lockdown sparked massive migrations from urban centres as migrant workers headed home, mostly on foot.

Many of the migrants have been killed on the roads and rail tracks in accidents.

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Saturday, October 16, 2021