Every year, May 1 is observed worldwide as International Labour Day, a tribute to the dedication and hard work of laborers. The day has its origins in the 1886 Chicago labor strike for fixed working hours, during which many workers lost their lives. In memory of their struggle, Labour Day was officially recognized in 1889 and was first celebrated in India in 1923.
To honor the contribution of workers across India, the central government has launched several welfare schemes aimed at improving their quality of life. These schemes not only offer financial security but also provide access to insurance, skill training, affordable loans, and pensions. On this special occasion, we highlight five major government schemes that every worker and laborer in India should know and take advantage of.
Launched in 2015, this scheme aims to provide accidental insurance to workers at a minimal cost. For just ₹20 annually, any eligible citizen can enroll in the PMSBY. In the unfortunate event of death or permanent disability due to an accident, the nominee receives ₹2 lakh, while ₹1 lakh is provided in case of partial disability. This affordable safety net is especially designed for low-income workers who often cannot afford conventional insurance.
For traditional craftsmen and artisans, the PM Vishwakarma Yojana is a game-changer. This scheme offers free training, a daily allowance of ₹500, and a grant of ₹15,000 to purchase toolkits. The idea is to keep traditional skills alive even in today’s mechanized world. In addition, artisans can avail low-interest loans under this scheme to scale their small businesses or trades. Whether you're a carpenter, blacksmith, or potter, this scheme empowers you to stay relevant and self-reliant.
Millions of workers in India are part of the unorganized sector, with no access to PF or pension benefits. The PM Shram Yogi Maandhan Yojana provides these individuals with a monthly pension of ₹3,000 after the age of 60. Workers can enroll by contributing a nominal monthly amount between ₹55 and ₹200, depending on their age. This ensures financial security in old age, especially for those without any regular savings or retirement plan.
For street vendors, hawkers, or those running small roadside businesses like tea stalls or vegetable carts, the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme offers an excellent opportunity. Under this program, vendors can access loans of up to ₹50,000 without any collateral, and that too at very low interest rates. It encourages self-employment and gives small-scale entrepreneurs the financial support to grow their ventures.
The PM Awas Yojana (Gramin) focuses on providing pucca houses to families living in kutcha homes or without a permanent residence. Under this scheme, the government offers a financial assistance of ₹1.20 lakh to help build a permanent home. It is especially beneficial for daily wage laborers and rural workers without a fixed income. Additionally, for those who have dropped out of school but are willing to learn, the Pradhan Mantri Kaushal Vikas Yojana offers skill training and a monthly stipend of ₹8,000 to boost employment.
On this International Labour Day, these five key government initiatives stand as a testament to India's commitment to uplifting its labor force. From insurance at ₹20 to loans without security, and pensions for old age, the schemes are crafted to support workers at every stage of life.
If you or someone you know belongs to the labor class, now is the time to explore these welfare programs and secure a more stable, empowered future.
