Gig Worker: Great news for gig workers, domestic helpers, and those in the unorganized sector! The central government is set to roll out a new microcredit scheme (microcredit scheme gig workers India) starting April 2026. This scheme will offer loans of up to Rs 10,000 each year without requiring any guarantees. Over five lakh gig workers who are registered on the e-shram portal will benefit from this initiative. The government aims to include as many gig workers as possible in this program.
This scheme is inspired by the Pradhan Mantri Street Vendors AtmaNirbhar Nidhi (PM-SVANidhi), which currently provides small operational loans to street vendors. The Ministry of Housing and Urban Affairs is working on a new plan to offer formal financial support to gig and platform workers.
It’s important to mention that the PM-SVANidhi scheme gives street vendors loans of up to Rs 10,000 in the first phase, followed by Rs 20,000 for timely repayments, and eventually up to Rs 50,000. There’s also a 7% interest subsidy and incentives for digital payments. The new scheme will tailor these benefits to meet the needs of gig workers, allowing them to buy motorcycles or other work-related gear.
The e-shram portal will play a key role in securing these loans. Only individuals whose names are listed in government records will qualify for the scheme. Workers registered on the e-Shram portal, who have a government ID and Universal Account Number, will be prioritized. By November 2025, over 31 crore unorganized workers and nearly five lakh gig workers had already registered on this portal.
Untainted beneficiaries will get RuPay Credit Card. The government aims to benefit a total of 1.15 crore people, which will include 50 lakh new beneficiaries. The duration of the scheme has been extended till March 31, 2030 and a budget of Rs 7,332 crore has been set for it. There is also a plan to give UPI linked RuPay credit card to the beneficiaries who repay the second loan on time. Its scope will now be expanded to semi-urban areas along with towns.