Home > Practice > Current Affairs > July - 2024 > July 20, 2024
1. Which state was awarded as the 'Best Performing State' under the PM SVANidhi scheme?
Madhya Pradesh was recognized as the 'Best Performing State' under the Prime Minister SVANidhi scheme, which aims to support urban street vendors with collateral-free loans up to ₹50,000. This accolade was announced by the Union Housing and Urban Affairs Ministry, highlighting Madhya Pradesh's effective management and implementation of the scheme. Launched in June 2020 during the COVID-19 pandemic, the PM SVANidhi scheme helps street vendors recover from the economic impact by providing micro-credit, thereby enhancing their financial stability and supporting small businesses.