PM Vishwakarma scheme

Syllabus: inclusive growth & development


Artisans need a ready market for their products, not just affordable credit

PM Vishwakarma scheme

  • It help traditional craftspeople and artisans with an economic boost
  • An outlay of ₹13,000 crore, provides loans of up to a total of ₹3 lakh (in two tranches) at a concessional interest rate of 5% – covers 18 trades such as cobblers, toy makers, laundrymen, barbers, masons and coir weavers – about five lakh families to be covered in the first year and 30 lakh families over five years – includes skilling programmes that offer a nominal stipend as well as financial help to purchase modern tools


  • only addresses access to affordable credit from the formal banking system.
  • Doesn’t address the lack of patronage for their goods and services in the wider marketplace
  • The fundamental problem of a lack of economic viability for their output.
  • If the scheme fails to open up new markets – risk of leaving the intended beneficiaries and their families deeper in debt.
  • Scheme lays stress on the intergenerational knowledge dissemination may leave the next generation stuck in these traditional low-paying trades – practiced in a caste straitjacket.


Requires proper implementation – rope in professionals with entrepreneurial flair to help the craftspeople and artisans update them for the new markets and tap fresh opportunities.

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