Central Idea

• The Union Cabinet has given its nod to the PM Vishwakarma Scheme, a groundbreaking initiative aimed at uplifting artisans and craftsmen in India.

What is PM Vishwakarma Scheme?

• Supporting Artisans: It will be a Central Sector Scheme with twofold objective: to nurture the Guru-Shishya Parampara:

1. Age-old tradition of imparting skills within families, and
2. To uplift artisans and craftsmen engaged in manual trades.

• Coverage: This comprehensive scheme encompasses 18 traditional trades in its initial phase, including blacksmiths, carpenters, potters, goldsmiths, tailors, and more, who form the bedrock of rural economies.

Key Highlights of Scheme

• Financial Provision: The scheme is fortified by a budgetary outlay of ₹13,000 crore, ensuring robust financial support to artisans and craftsmen.
• Recognition and ID: Artisans and craftspeople will receive recognition through the prestigious PM Vishwakarma certificate and an official ID card, validating their skills and contributions.
• Credit Support: The scheme provides access to credit support, offering up to ₹1 lakh in the first tranche and ₹2 lakh in the second tranche, with an advantageous interest rate of 5%.
• Skill Upgradation: To enhance expertise, the scheme includes skill upgradation programs encompassing both basic and advanced training. Participants will receive a stipend of ₹500 per day during training.
• Modern Tools and Incentives: Beneficiaries will be granted up to ₹15,000 to acquire modern tools, further improving the quality and efficiency of their work.
• Digital Transactions and Marketing: Embracing modern practices, the scheme encourages digital transactions and marketing support, linking artisans with broader markets.

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