Roadmap for Answer Writing
1. Introduction
- Start with a brief explanation of the PM SVANidhi scheme.
- State its objectives: promoting financial inclusion, reducing inequalities, and supporting street vendors.
- Mention the importance of social justice and equity in the Indian context.
Example:
“The Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme aims to empower over 50 lakh street vendors by providing collateral-free loans. This initiative addresses financial inclusion and promotes equitable opportunities, contributing to social justice in India.”
2. Body Structure
(i) Achievements of PM SVANidhi
- Highlight areas where the scheme has effectively promoted social justice and equity.
- Inclusive Reach
- Beneficiaries from marginalized communities.
- Data: 75% of loan recipients belong to non-general categories.
- Empowerment of Women
- Participation of women street vendors.
- Data: Women account for 43% of total beneficiaries.
- Relief from Predatory Lending
- Access to affordable loans alleviates reliance on informal lenders.
- Digital Inclusion
- Improved adoption of digital transactions among street vendors.
- Data: 9.5% of Jan Dhan beneficiaries increased digital transactions.
(ii) Challenges and Gaps
- Discuss limitations in achieving full social justice and equity.
- Barriers in Access
- Issues with documentation and bank processes.
- Dependence on Urban Local Bodies (ULBs)
- Cumbersome process for obtaining vending certificates or recommendations.
- Awareness Gaps
- Data: 52% of vendors were unaware of the scheme.
- Limited Minority Representation
- Data: Only 9% of loans were allocated to minority communities.
(iii) Suggestions for Improvement
- Simplify documentation requirements.
- Increase awareness campaigns, especially in underserved areas.
- Improve equitable distribution through targeted outreach programs.
3. Conclusion
- Acknowledge the scheme’s role in advancing social justice and equity, while emphasizing areas for improvement.
- Suggest that addressing challenges can make the scheme a model for inclusive development.
Example:
“PM SVANidhi has made commendable strides in promoting social justice, particularly for marginalized and women vendors. However, simplifying processes and addressing inequities will be key to maximizing its impact.”
Relevant Facts for the Answer
1. Scope and Reach
- Collateral-free loans of up to ₹50,000 in tranches for 50 lakh street vendors
2. Inclusivity and Empowerment
- 75% of beneficiaries are from non-general categories.
- 43% of beneficiaries are women .
3. Digital Transactions
- 9.5% of Jan Dhan beneficiaries moved from fewer than 10 to higher digital transactions.
4. Awareness Challenges
- 52% of vendors unaware of the scheme.
5. Minority Representation
- Only 9% of loans went to minority communities .
Model Answer
The Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme, introduced to support street vendors with collateral-free working capital loans, has achieved notable successes in advancing social justice and equity. However, several challenges persist in ensuring its optimal impact.
Achievements of the Scheme
Challenges in Implementation
Conclusion
The PM SVANidhi scheme has made significant strides in fostering social justice by empowering marginalized and gendered groups. However, addressing the challenges of accessibility, awareness, and equitable outreach is crucial to ensure that its benefits reach all street vendors effectively. Simplifying processes and enhancing targeted outreach can further bolster its impact.