- Recently, the Khadi and Village Industries Commission (KVIC) has launched SPIN Scheme to help potters become self-sufficient.
- SPIN stands for Strengthening the Potential of India.
About SPIN scheme
SPIN scheme is an initiative through which KVIC will make it easier for potters to obtain low-interest bank loans, allowing them to diversify their businesses and increase their income.
- It aims to promote long-term development through fostering local self-employment, in line with the Prime Minister’s pledge to “Jobs for Every Hand” (Har Hath Me Kaam).
- It is a scheme with no subsidies.
- SPIN will enable registered potters to get a direct loan from the banks under Pradhan Mantri Shishu Mudra Yojana
- There is no financial load on the government.
- The loans can be repaid in convenient instalments by the recipients.
- It will minimise their need for government subsidies, allowing potters to become self-sufficient.
Back to Basics
Khadi and Village Industries Commission (KVIC)
- KVIC is a statutory body established by an Act of Parliament in 1956.
- The body is charged with the planning, promotion, organisation and implementation of programs for the development of Khadi and other village industries in the rural areas in coordination with other agencies engaged in rural development wherever necessary.
Objectives of KVIC
- The social objective of providing employment.
- The economic objective of producing saleable articles.
- The wider objective of creating self-reliance amongst the poor and building up of a strong rural community spirit.
- Its functions also comprise building up of a reserve of raw materials and implements for supply to producers, creation of common service facilities for processing of raw materials as semi-finished goods and provisions of facilities for marketing of KVI products.
- It also imparts training to artisans engaged in these industries.
Government Schemes for UPSC 2021 : Click Here