PM Vishwakarma Scheme | 19 Sep 2023

Source: PIB

Why in News?

Recently, the Prime Minister of India has launched the 'Prime Minister (PM) Vishwakarma Scheme' on the occasion of Vishwakarma Jayanti.

What is the PM Vishwakarma Scheme?

  • About:
    • 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 per day and Rs 15,000 grant 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.
  • Objectives:
    • To ensure that artisans are seamlessly integrated into both domestic and global value chains, thus enhancing their market access and opportunities.
    • Preservation and promotion of India's rich cultural heritage of traditional crafts.
    • Assisting artisans in transitioning to the formal economy and integrating them into global value chains.
  • Significance:
    • Vishwakarmas (Traditional Artisans) play a critical role in society regardless of technological advancements.
    • There is a need to recognize and support these artisans and integrate them into the global supply chain.