In News:

The PM Vishwakarma Yojana is a landmark initiative by the Indian government aimed at revitalizing traditional craftsmanship and empowering artisans and craftspeople, often referred to as Vishwakarmas. Launched on September 17, 2023, during Vishwakarma Jayanti, the scheme highlights the government's commitment to preserving India's rich cultural heritage and supporting the unorganized sector.

Key Highlights

• Objective:
  • To strengthen the Guru-Shishya tradition and improve the quality, reach, and marketability of products and services by artisans.
  • To integrate Vishwakarmas into domestic and global value chains, making them self-reliant.
  • To alleviate poverty by supporting rural and urban artisans across India.
• Financial Outlay:,Fully funded by the Union Government with a ?13,000 crore budget spanning five years (2023–2028).
• Eligibility:
  • Open to rural and urban artisans and craftspeople involved in 18 traditional crafts, such as blacksmithing, goldsmithing, pottery, boat making, and carpentry.
  • Covers 5 lakh families in the first year and aims to reach 30 lakh families over five years.
• Key Benefits:
  • Financial Support:
    • Collateral-free credit of ?1 lakh (first tranche) and ?2 lakh (second tranche) at a concessional 5% interest rate.
    • Government provides 8% interest subvention upfront to banks.
  • Toolkit Incentive: ?15,000 via e-vouchers for acquiring modern tools.
  • Training and Skill Development: Basic and advanced skill training to create industry-ready manpower.
  • Digital and Marketing Incentives: Encourages digital transactions and provides marketing support.
  • Recognition: Beneficiaries receive a PM Vishwakarma Certificate and ID Card.
  • Market Linkage: Facilitates better market access for artisan products.
• Achievements (as of Nov 4, 2024):
  • 25.8 million applications received.
  • 2.37 million artisans registered after verification.
  • Over 1 million artisans benefited from toolkit incentives.

Significance

• Promotes inclusive development by supporting an underserved segment of the workforce.
• Recognizes and supports traditional skills passed down through generations, preserving India’s cultural diversity.
• Enhances productivity and competitiveness by integrating artisans into MSME sectors.
• Encourages sustainability through the promotion of handmade, eco-friendly crafts.

Key Institutions Involved

• Ministry of Micro, Small, and Medium Enterprises (MSME): Oversees implementation.
• Common Services Centres (CSC): Facilitates registration through biometric-based PM Vishwakarma Portal.

Challenges Addressed

• Lack of access to modern tools and financial support.
• Insufficient market linkages and exposure for traditional crafts.
• Limited opportunities for skill enhancement and product development.

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