Empowering Artisans: PM Modi launches PM Vishwakarma Scheme | Fusion - WeRIndia

Empowering Artisans: PM Modi launches PM Vishwakarma Scheme

Empowering Artisans: PM Modi launches PM Vishwakarma Scheme

In a significant move to bolster traditional craftsmanship and artisanal skills, Prime Minister Narendra Modi launched the PM Vishwakarma scheme on his 73rd birthday, commemorating Vishwakarma Jayanti.

This scheme, initially announced during his Independence Day address, holds great promise for skilled individuals in traditional crafts.

Under the PM Vishwakarma scheme, the government will provide loans of up to ₹3 lakhs without the need for a bank guarantee.

Remarkably, the interest rates on these loans will be kept at a minimum. The scheme kicks off with an initial ₹1 lakh loan, with an additional ₹2 lakhs provided once the initial sum is repaid.

Here are the key highlights of the PM Vishwakarma scheme:

  • Full Government Funding: The scheme boasts full funding from the Union government, with an impressive outlay of ₹13,000 crore.
  • Biometric Registration: Prospective beneficiaries can register at no cost through common services centers using the biometric-based PM Vishwakarma portal.
  • Support for Artisans: Artisans and craftspeople in both rural and urban areas across India will receive vital support through this initiative.
  • Coverage of 18 Trades: Initially, the scheme will encompass 18 traditional trades, ranging from carpentry and blacksmithing to tailoring and basket making.
  • Phased Implementation: In the first year, the scheme aims to cover five lakh families, with a total target of 30 lakh families over the course of five years from 2024 to 2028.
  • Enhancing Quality and Reach: The primary focus is on improving the quality and market reach of artisanal products and services, thereby integrating artisans into domestic and global value chains.
  • Recognition and Skill Upgradation: Beneficiaries will receive PM Vishwakarma certificates and ID cards, along with opportunities for skill enhancement through basic and advanced training.
  • Incentives: To further empower artisans, the scheme offers a toolkit incentive of ₹15,000 and collateral-free credit support of ₹1 lakh in the first tranche. Besides, they will be given ₹2 lakh in the second tranche. The loan is provided at a concessional interest rate of 5%. Additionally, incentives for digital transactions and marketing support are provided.

The PM Vishwakarma scheme heralds a new era for traditional artisans, offering them financial support, skill development, and avenues for growth.

This initiative aligns with the government’s commitment to preserving and promoting India’s rich heritage of craftsmanship, ensuring that the legacy of artisans continues to thrive in a rapidly evolving world.

Photo by Jonny Gios on Unsplash (Free for commercial use)

Image Reference: https://unsplash.com/photos/4AT3mZMuFuI

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