What is the News ?

The Cabinet Committee on Economic Affairs has approved a new Scheme  named “PM Vishwakarma”

Facts About:

Type: Central Sector Scheme

Aim: To strengthen and nurture the Guru-Shishyaparampara or family-based practice of traditional skills by artisans and craftspeople working with their hands and tools.

– To improve the quality, as well as the reach of products and services of artisans and craftspeople and to ensure that the Vishwakarmas are integrated with the domestic and global value chains.

Coverage: The scheme will provide support to artisans and craftspeople of rural and urban areas across India. 

– Eighteen traditional trades will be covered under the scheme. These include carpenter, boat maker, armourer, blacksmith, hammer and tool kit maker, locksmith, goldsmith, potter, sculptor, stone breaker, cobbler, mason, basket/mat/broom maker/coir weaver, traditional doll and toy maker, barber, garland maker, washerman, tailor and fishing net maker.

Duration of the scheme: Five years (FY 2023-24 to FY 2027-28). 

Key Features of the scheme: Artisans and craftspeople will be provided a recognition through PM Vishwakarma certificate and ID card.

– The scheme has a provision of credit support of up to ?1 lakh (first tranche) and ?2 lakh (second tranche) with a concessional interest rate of 5%.

– It also has a provision to provide skill upgradation, incentive for toolkit as well as digital transactions and marketing support.

– Skilling programmes will take place at both basic and advanced types. Participants will get a stipend of ?500 per day while undergoing training.

– Beneficiaries will also receive up to ?15,000 to buy modern tools.

Source: https://economictimes.indiatimes.com/news/politics-and-nation/pms-vishwakarma-scheme-launch-on-sept-17-70-ministers-to-attend-event-at-70-locations/articleshow/103559849.cms?from=mdr