The Centre is reportedly going to launch a microcredit programme for the gig workers, domestic helpers, and other vulnerable groups by April 2026.
Under the scheme, the government aims to offer collateral-free loans up to Rs. 10,000 per year. According to an Economic Times report, the Ministry of Housing and Urban Affairs has designed this scheme on the lines of the PM Street Vendors Atma Nirbhar Nidhi (PM-SVANidhi). It aims to support street vendors and other vulnerable workers with small working capital loans.
This is going to allow gig and platform workers (who may also lack formal credit history) to access loans to buy two-wheeler vehicles and other assets for their work
The report states that a government official told ET that the scheme has been successful with minimal defaulters, showing that the gig economy is expanding. The official also reportedly said that the scheme was needed to extend support to gig workers and domestic helpers
To be eligible for the loan under this scheme, PM-SVANidhi requires vendors to hold a licence, and be registered on the e-Shram portal, and have government-issued identity cards and a Universal Account Number.
According to the official, as of November 2025, more than 313.8 million unorganised workers and over 509,000 gig and platform workers are registered on the portal. These verified workers will be the first to benefit during the first phase of the launch of the scheme
