The Khadi and Village Industries Commission (KVIC) recently made headlines with the launch of the SPIN (Strengthening the Potential of India) scheme. This initiative aims to support potters, enabling them to obtain easy loans from banks to diversify their activities and improve their income.
KVIC: An Overview
The KVIC is a statutory body, established under the Khadi and Village Industries Commission Act of 1956. It operates under the Ministry of Micro, Small and Medium Enterprises. Its endeavors include launching the Honey Mission programme in 2017-18 and the more recent Bamboo Oasis on Lands in Drought (BOLD) project from the village Nichla Mandwa in Udaipur, Rajasthan.
Details of the SPIN Scheme
SPIN is an initiative by KVIC that focuses on helping potters get easy access to bank loans, enabling them to expand their activities and increase their earnings. The goal is to promote sustainable development by fostering local self-employment opportunities. This concept aligns with the Prime Minister’s commitment of providing “Job to Every Hand” (Har Hath Me Kaam).
Key Features of the SPIN Scheme
SPIN does not involve any subsidy. Instead, KVIC facilitates potters to secure bank loans under Pradhan Mantri Shishu Mudra Yojana. This approach does not put any financial burden on the exchequer, and beneficiaries can repay the loans in easy installments. Consequently, it reduces potters’ reliance on government subsidies, making them self-reliant.
Other Related Schemes
Aside from SPIN, other initiatives aimed at bolstering the pottery industry include the Kumhar Sashaktikaran Yojana, Terracotta Grinder, Prime Minister’s Employment Generation Programme, and Pradhan Mantri Mudra Yojana.
Pradhan Mantri Mudra Yojana: A Snapshot
Launched by the government in 2015, this scheme provides loans of up to Rs. 10 lakh to non-corporate, non-farm small/micro businesses. Notably, loans under this scheme are collateral-free. Three products have been created under this, namely ‘Shishu’, ‘Kishore’, and ‘Tarun’, based on the growth stage and funding needs of the micro unit. ‘Shishu’ covers loans up to Rs. 50,000, while ‘Kishore’ provides for loans above Rs. 50,000 and up to Rs. 5 lakh. ‘Tarun’ caters to loans above Rs. 5 lakh and up to Rs. 10 lakh.