Macro Economy

Uttar Pradesh, West Bengal account for highest number of street vendors in India: SBI economists

PTI Mumbai | Updated on May 15, 2020 Published on May 15, 2020

Uttar Pradesh and West Bengal are home to the highest number of street vendors, collectively accounting for over one-fourth of India’s tally, economists at State Bank of India (SBI) said on Friday.

According to a note released a day after the government announced a ₹5,000-crore special credit facility for street vendors, ten States accounted for 35 lakh of the 50 lakh beneficiary street vendors who will be given a loan of ₹10,000 each to restart businesses impacted by the lockdowns.

Uttar Pradesh has 7.8 lakh vendors, while West Bengal follows with 5.5 lakh, it said, adding that the two states collectively command a 27 per cent share of the overall number.

Bihar has 5.3 lakh vendors, Rajasthan 3.1 lakh, Maharashtra 2.9 lakh, Tamil Nadu 2.8 lakh, Andhra Pradesh and Karnataka at 2.1 lakh each, Gujarat 2 lakh, Kerala and Assam at 1.9 lakh each, Odisha 1.7 lakh, Haryana 1.5 lakh, and Madhya Pradesh and Punjab at 1.4 lakh each.

The economists said they depended on the self-employed in non-agriculture sector data from the periodic labour force surveys to arrive at the estimates.

Welcoming the move of introducing the ‘one-nation, one-ration card’ concept, it said the government will have to build the necessary technological architecture in the 5.27 lakh fair price shops at the earliest to make it operational.

Fiscal impact

The direct fiscal impact of the package announced by Finance Minister Nirmala Sitharaman on Thursday is only up to ₹14,750 crore or 0.07 per cent of the GDP, as a bulk of the ₹3.16 lakh crore of announcements is aspects like guarantees, it said.

Till now, the cumulative fiscal impact of all the three packages announced by Sitharaman to mitigate the economic impact of the Covid-19 pandemic is Rs 1.29 lakh crore or 0.6 per cent of the GDP.

The economists marginally upped the country’s fiscal deficit estimate for FY21 to 8 per cent of the GDP as against 7.9 per cent earlier. The slippage will largely be on account of lower revenues and higher expenditure as a result of the pandemic, the note said.

With the schemes announced on Thursday also including a Rs 30,000 crore additional refinance support from Nabard for crop loans written by lenders, the economists said there is a likelihood of another Rs 30,000 crore in liquidity support being made available to the agri-focused institution from RBI over and above the earlier announcement of Rs 25,000 crore.

Published on May 15, 2020

A letter from the Editor

Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.