Why should you care?
If you’re part of the gig economy or know someone who is, this could be a game changer.
The scheme targets e-Shram registrants—think delivery partners, freelancers, and other unorganized workers—offering collateral-free microloans of up to ₹10,000 a year and is being designed on the pattern of PM-SVANidhi, which has subsequent tranches of ₹20,000 and ₹50,000 and an interest subsidy of 7% for timely repayment.
You can use these funds for things like buying a two-wheeler to start your own hustle.
Plus, companies like food delivery apps will now chip in up to 2% of their turnover toward social security funds, helping close big gaps in support for informal workers.
It’s all about making self-employment safer and more sustainable for millions of young Indians.
