PM Vishwakarma Scheme

Why in News?

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

What is the PM Vishwakarma Scheme?

• Overview:
  • The PM Vishwakarma Scheme aims to uplift traditional artisans and craftspeople involved in various trades such as blacksmithing, goldsmithing, pottery, carpentry, and sculpting. The focus is on preserving India’s cultural heritage and integrating these artisans into the formal economy and global value chains.
  • The scheme is a Central Sector Scheme, meaning it is fully funded by the Government of India.
• Ministry Involved:
  • The Ministry of Micro, Small and Medium Enterprises (MoMSME) is the nodal ministry responsible for the scheme’s implementation. The Ministry of Skill Development and Entrepreneurship and the Department of Financial Services, Ministry of Finance, will also jointly implement the scheme.
• Key Features:
  • Recognition and Financial Support:
    • Artisans and craftspeople registered under the scheme will receive a PM Vishwakarma certificate and an identity card.
    • They will be eligible for collateral-free credit support: up to Rs 1 lakh in the first tranche and Rs 2 lakh in the second tranche, with a concessional interest rate of 5%.
  • Skill Development and Financial Assistance:
    • The scheme is allocated a budget of Rs 13,000 crore over five years, from 2023-2024 to 2027-2028.
    • It offers a daily stipend of Rs 500 for skill training and a grant of Rs 15,000 for purchasing modern tools.
  • Scope and Coverage:
    • The scheme covers 18 traditional trades across both rural and urban areas. These trades include carpenters, boat-makers, blacksmiths, potters, sculptors, cobblers, tailors, and more.
  • Registration and Implementation:
    • Registration for the scheme can be done at common service centers in villages. The central government will provide the funding, while state governments’ cooperation will be sought for effective implementation.
• Objectives:
  • To integrate artisans into domestic and global value chains, thereby enhancing their market access and opportunities.
  • To preserve and promote India’s rich cultural heritage of traditional crafts.
  • To help artisans transition into the formal economy and global supply chains.
• Significance:
  • Traditional artisans, or Vishwakarmas, are essential to society, even in an era of rapid technological advancement. There is a pressing need to recognize their contributions and integrate them into the global supply chain.

Government Initiatives for the Upliftment of Artisans:

• Ambedkar Hastshilp Vikas Yojana
• Mega Cluster Scheme
• National Handicraft Development Programme
• Comprehensive Handicrafts Cluster Development Scheme
• Export Promotion Council for Handicrafts
• One District One Product
• Atmanirbhar Hastshilpkar Scheme