PM-VIKAS to Boost Credit Access via NMDFC Loan Programs

27 Mar 2025 CW Team

The Pradhan Mantri Virasat Ka Samvardhan (PM VIKAS) is a Central Sector Scheme under the Ministry of Minority Affairs, designed to support the development of six notified minority communities. It consolidates five earlier schemes—'Seekho Aur Kamao,' 'Nai Manzil,' 'Nai Roshni,' 'USTTAD,' and 'Hamari Dharohar'—to provide a more comprehensive approach to empowerment.

The scheme focuses on multiple key areas, including skilling and training in both traditional and non-traditional sectors, women’s leadership and entrepreneurship, education through the National Institute of Open Schooling, and infrastructure development under the Pradhan Mantri Jan Vikas Karyakram. Additionally, it facilitates financial inclusion by linking beneficiaries with loan programs offered by the National Minorities Development & Finance Corporation (NMDFC).

Currently, the Ministry is in the process of reviewing and shortlisting project proposals under the scheme. Collaboration with various Central Government Ministries, Departments, and State/UT governments is underway to identify suitable agencies for implementation. Efforts are also being made to enhance awareness about the scheme through platforms such as Hunar Haat, Lok Samvardhan Parv, and various print and social media channels.

By integrating skill development, entrepreneurship, education, and infrastructure support, PM VIKAS aims to create sustainable opportunities for minority communities, fostering socio-economic growth and financial empowerment.

News source: PIB

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