TS becomes first state to distribute 100% loans to 3.4 lakh street vendors
The Telangana government launched the Pattana Pragathi programme in all Urban Local Bodies (ULBs) of Telangana on February 24th, 2021.
By Newsmeter Network Published on 10 Nov 2021 4:19 PM GMT
Hyderabad: In a milestone achievement on Diwali eve, Telangana became the first state to distribute 100 % loans to 3.4 lakh street vendors.
Durga Shankar Mishra, Secretary, Ministry of Housing and Urban Affairs, in a tweet has congratulated Telangana State for its efforts in effective implementation of the PM SVANidhi Scheme and for becoming the first state to get 100 % loans distributed to its targeted 3.40 Lakh Street Vendors.
The Telangana government launched the Pattana Pragathi programme in all Urban Local Bodies (ULBs) of Telangana on February 24th, 2021. It was decided to take up the development of street vendors as one of the Pattana Pragathi activities. Also, the programme planned to issue working capital loans to all the street vendors and develop vending zones in ULBs.
A separate mobile application 'Pattana Pragathi – Survey of Street Vendors' was developed. A total of 5,18,912 street vendors were identified in addition to exiting 83,666 street vendors during the Pattana Pragathi programme.
Till now, under the Pattana Pragathi and the PM SVANidhi programmes in Telangana, working capital loans of Rs. 364.42 Crores is sanctioned to 3,64,428 street vendors and loans have been disbursed to 3,45,028 street vendors against the target of 3,40,000. Telangana stands first in the country in the implementation of the PMSVANidhi Scheme – Loans to Street Vendors.
In Telangana, 3,25,744 street vendors (95%) are accepting digital payments through QR Codes. As per guidelines, a maximum cash incentive of Rs.100 is given to each street vendor per month for conducting digital transactions as per the target.
Further, street vendors in the state have received an interest subsidy of Rs. 428.00 Lakhs for regular repayment of loans, which is 20% of the country's total.
Attana Pragathi also focuses on the development of street vending zones. Till now, out of the total 2614 street vending sheds, 1037 sheds have been constructed and 1577 sheds are under construction.
