Vijayawada: The Guntur Municipal Corporation (GMC) won the national award for standing first in the implementation of PM Svanidhi scheme. GMC commissioner Puli Srinivasulu received the award from municipal administration minister Dr P Narayana at a function held here on Tuesday.
The GMC roped in bankers to provide loans to about 21,594 street vendors from about 24,197 applicants under the PM Svanidhi scheme.
Addressing the meeting, municipal administration minister Narayana said that the PM Svanidhi scheme is one of the most efficient schemes aimed at eliminating poverty. He urged small traders to utilize the scheme to double their income and informed that the Centre is granting about 7 per cent subsidy on interest rate on loans being granted to small vendors.
“Chief minister Chandrababu Naidu is keen on encouraging women from self-help groups to make use of such loans to set up small businesses and create their own revenue,” said Narayana. He said that the chief minister launched vision P4 aimed at doubling the income of the poor by following the public-private partnership model. He said small traders and street vendors are playing an important role in creating employment and in boosting the economy.
He asked municipal commissioners to take a proactive role in creating awareness among street vendors to make use of such schemes. He said that they should also take responsibility to convince bankers to release loans to maximum number of traders. He said that they have succeeded in granting loans to about 5,02,894 traders from 5.94 lakh applicants, which is a national record. He appreciated municipal commissioners, officials from MEPMA and bankers for their role in the achievement.
GMC commissioner Srinivasulu said that they would further enhance the participation of small traders in the PM Svanidhi scheme in the coming days and added that the GMC would adopt innovative methods to create awareness among street vendors.
