Sitharaman disburses loans to street vendors, small scale entrepreneurs

The finance minister also urged women to form FPOs in their respective areas and avail bank loans to develop storage and processing units in their villages

Finance Minister Nirmala Sitharaman
Finance Minister Nirmala Sitharaman
Press Trust of India Kota (Rajasthan)
2 min read Last Updated : Jan 08 2023 | 8:28 PM IST

Loans worth Rs 2,500 crore were given in a single day to street vendors, small scale entrepreneurs and cattle rearers at a credit outreach program here on Sunday.

Union Finance Minister Nirmala Sitharaman and Lok Sabha Speaker Om Birla handed over the cheques to some beneficiaries.

Officials said others will receive their loan amounts during the course of the day.

The loans were given under schemes like Pradhan Mantri Svanidhi Yojana, Mudra Yojana and Pashupalak Kisan Credit Card.

Addressing the event at Dusshera Ground here, Sitharaman said the prime minister himself has given guarantee for loans under the Pradhan Mantri Svanidhi Yojana, so one does not need to produce any document for guarantee.

Loans of at least Rs 68 crore are going to be distributed among cattle rearers (Pashupalaks), she added.

Many others are being given credit sanction for various business and agriculture purposes, she said.

The finance minister also urged women to form Farmer Producer Organisations (FPOs) in their respective areas and avail bank loans to develop storage and processing units in their villages.

Lok Sabha Speaker Om Birla, who is also the MP from Kota-Bundi, called upon street vendors, small scale entrepreneurs and cattle rearers to avail the loans under various government schemes to expand their work.

"The engine of our country is the poorest man of India... in times to come, India would be leading in economic growth and it would be because of street vendors, women, cattle rearers...," Birla said, adding "we want to build a new economic structure (aarthik tantra) and make the poorest the strongest one."

Earlier in the morning, the finance minister held an interaction with coaching students in Allen Career Institute in Jawahar Nagar area of the city.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :Nirmala Sitharamanloanswomen empowerment

First Published: Jan 08 2023 | 8:28 PM IST

Next Story