CrackitToday App

PM Vishwakarma Scheme

PM Vishwakarma Scheme:

The Prime Minister of India has launched the ‘Prime Minister (PM) Vishwakarma Scheme’ on the occasion of Vishwakarma Jayanti.

  • The scheme is designed to uplift traditional artisans and craftspeople engaged in various occupations like blacksmithing, goldsmithing, pottery, carpentry, and sculpting, with a focus on preserving cultural heritage and integrating them into the formal economy and global value chains.
  • It will be implemented as a Central Sector Scheme, fully funded by the Government of India.
  • Ministry: Ministry of Micro, Small and Medium Enterprises (MoMSME) is the Nodal Ministry for the Scheme.
  • The Scheme will be jointly implemented by the MoMSME, the Ministry of Skill Development and Entrepreneurship and the Department of Financial Services, Ministry of Finance, Government of India.
  • Features:
    • Recognition and Support: Artisans and craftspeople enrolled in the scheme will receive a PM Vishwakarma certificate and an identity card.
    • They will also be eligible for collateral-free credit support of up to Rs 1 lakh (first tranche) and Rs 2 lakh (second tranche) at a concessional interest rate of 5%.
    • Skill Development and Empowerment: The Scheme has been allocated a budget ranging from Rs 13,000 crore for five financial years from 2023-2024 to 2027-2028.
    • The scheme offers a stipend of Rs 500 for skill training and Rs 1,500 for the purchase of modern tools.
  • Scope and Coverage: The scheme encompasses 18 traditional trades across both rural and urban areas.
  • These trades encompass carpenters, boat-makers, blacksmiths, potters, sculptors, cobblers, tailors, and more.
    Registration and Implementation: Registration for the Vishwakarma Yojana can be completed at common services centers in villages.
  • While the central government will provide funding for the scheme, state governments’ support will also be sought.