Mukhyamantri SVANidhi Yojana launched by LSG

Jaipur: On the lines of the Pradhan Mantri SVANidhi Yojana Scheme, a new scheme the Mukhyamantri SVANidhi Yojana has been launched in the state. This scheme, conceptualised by Chief Minister Bhajan Lal Sharma, has been introduced by the Department of Local Self-Governance to provide financial support to unorganised sector workers who are not eligible under the Pradhan Mantri SVANidhi Yojana.

Under this scheme, workers will have access to loans of up to `80,000. The state government will provide a 7% interest subsidy, which will be granted to beneficiaries upon the timely repayment of the full loan amount. This scheme was officially introduced on the first anniversary of the state government, which includes gig workers, transport workers, domestic workers, construction workers, hawkers, waste workers, ragpickers, artisans, and others, who are not covered in the Central Scheme. Applicants must possess a permit or recommendation letter issued by the local body, labour department, MSME department, or a relevant authority.

The applicant must be between 18 and 60 years of age and a permanent resident of Rajasthan. Beneficiaries can avail loans in three phases: `10,000, `20,000, and `50,000, with repayment periods of 12 months, 18 months, and 36 months, respectively. Applications for the scheme can be submitted online. Urban local bodies have already begun identifying eligible beneficiaries. Applicants will need to attach their Jan Aadhaar or Aadhaar card, identity proof, residence certificate, and business permit along with the application. Initially, all applications will be reviewed by the respective local body and then forwarded to banks for loan processing.