Guided by the mantra of Seva and Sushasan, that is, Public Service and Good Governance, the Government, under Prime Minister Narendra Modi, has been working tirelessly to bring transformation and progress. In our Special Series – ‘Seva Parv’, we bring to you how the Modi government has strengthened the informal sector through welfare measures, social security, and financial inclusion.
With almost 45 per cent contribution to the GDP the informal sector has been an important stakeholder in Indian economy. Under PM Modi, the government has taken the ownership of empowering those working in the unorganised sector. PM Street Vendor’s Atma Nirbhar Nidhi (PM SVANidhi) scheme facilitates working capital loan to street vendors and has features like cashback for digital payments. Launched in June 2020 to help the street vendors affected by COVID-19 pandemic, the scheme has now been extended up to 2030.
e-Shram portal is a national database of unorganised workers that enables targeted delivery of social security schemes. The portal has been integrated with other facilities that help find suitable job opportunities, skilling opportunities and avail social security benefits.
PM Shram Yogi Maan-dhan Yojana is a pension scheme for unorganised workers, with Government of India making 50 percent of the contribution and the rest is by the worker. Modi government’s various initiatives are bridging delivery gaps, ensuring workers gain access to benefits, credit, and training, thereby fostering economic growth and stability for those working in the informal sector.
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