Union Cabinet approves “PM Vishwakarma” Central Sector Scheme

Tags: Government Schemes

Union Cabinet approves new Central Sector Scheme 'PM Vishwakarma' to support traditional artisans and craftsmen of rural and urban India

An Overview of the News

• The "PM Vishwakarma" scheme has a financial allocation of Rs 13,000 crore for a period of five years (FY 2023-24 to FY 2027-28).

• Its main objective is to support traditional artisans and craftsmen, both rural and urban, who work with manual skills and tools.

Preservation of Tradition:

• The objective of the scheme is to maintain the Guru-Shishya Parampara (guru-shishya parampara) of passing on traditional skills within the families of artisans and craftsmen.

Enhancing Quality and Access:

• One of the goals is to enhance the quality and expand the reach of artisan-made products and services.

• The scheme envisages the integration of these artisans into both the domestic and global value chains.

Benefits for Artisans:

• Artisans and craftsmen will get official recognition through a "PM Vishwakarma" certificate and an identity card.

• Financial assistance will be provided, with a credit available up to Rs. 1 lakh (1st installment) and Rs 2 lakh (2nd installment), which includes a concessional interest rate of 5%.

• Opportunities for skill improvement, toolkit incentives, incentives for digital transactions, and marketing support are also part of the plan.

Business Coverage:

• Initially, the scheme will cover eighteen traditional trades under the "PM Vishwakarma" umbrella.

• These trades include carpenter, boat builder, gunsmith, blacksmith, hammer and tool kit maker, repairman, hearse, potter, sculptor (sculptor, stone carver), stonecutter, cobbler (charmkar)/shoemaker/ Footwear Artisans, Masons, Basket/Mat/Broom Makers/Coir Weavers, Doll and Toy Makers (Traditional), Barbers, Malabars, Washermen, Tailors, Fishing Net Makers