SPIN Scheme: KVIC

WHY IN THE NEWS?

Recently, the Khadi and Village Industries Commission (KVIC) launched the SPIN (Strengthening the Potential of India) scheme to make potters self-sustainable.

SPIN Scheme:

About:

Under SPIN, KVIC will facilitate potters to get easy loans from banks that will help the potters to diversify their activities and enhance their income.

Objective:

It is aimed at sustainable development by creating local self-employment which is aligned with the Prime Minister’s commitment of “Job to Every Hand” (Har Hath Me Kaam).

Features:

• It is a no-subsidy program.
• KVIC facilitates potters to get bank loans under Pradhan Mantri Shishu Mudra Yojana.
• No financial burden on the exchequer.
• Beneficiaries can repay the loans in easy installments.

Significance:

• It will reduce their dependence on government subsidy and thus make potters self-reliant.