Why in the News?
The National Steering Committee for the PM Vishwakarma scheme has approved several proposals and policy measures to improve loan sanctioning and disbursement under the scheme.
About PM Vishwakarma Scheme
• Central Sector Scheme of the Ministry of Micro, Small and Medium Enterprises
• Launched to support artisans and craftspeople engaged in traditional, family based occupations
• Focuses on strengthening the Guru Shishya parampara and preserving traditional skills
Objectives
• Nurture traditional artisans working with hands and tools
• Improve skill levels, access to credit, and market linkage
• Promote digital transactions among artisans
Time Period
• Five years
• From FY 2023 24 to FY 2027 28
Eligibility and Coverage
• Available to both rural and urban artisans across India
• Minimum age: 18 years
• Must be engaged in a traditional trade
• Beneficiary should not have availed similar government loans in the last five years
• Covers 18 traditional crafts including Boat Maker, Armourer, Blacksmith, Hammer and Tool Kit Maker, and others
| Pradhan Mantri Jan-Dhan Yojana’ has been launched for (2015)
(a) providing housing loan to poor people at cheaper interest rates (b) promoting women’s Self-Help Groups in backward areas (c) promoting financial inclusion in the country (d) providing financial help to the marginalized communities |
The PM Vishwakarma Scheme is a targeted intervention aimed at marginalized craftspeople, providing them access to credit, digital transaction support, and market linkages. These components are crucial mechanisms of financial inclusion.
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