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PM Vishwakarma

Celebrating his 73rd birthday, Prime Minister Narendra Modi unveiled the ‘PM Vishwakarma’ scheme, a groundbreaking initiative aimed at empowering traditional artisans. This announcement came during a special event at the India International Convention and Expo Centre in Dwarka, where the Prime Minister also introduced 18 commemorative postage stamps and an informative Toolkit Booklet.

During the launch of the Vishwakarma scheme, Prime Minister Modi highlighted its essential components, offering the following insights:

1. Financial Aid for Traditional Artisans:

The PM Vishwakarma scheme extends financial assistance of up to ₹3 lakhs without requiring a bank guarantee.

Remarkably, these loans will carry exceptionally low-interest rates.

An initial ₹1 lakh loan will be disbursed, followed by an additional ₹2 lakhs once the initial amount is repaid, benefiting Vishwakarma partners.

2. Substantial Government Investment:

This scheme is backed by the Union government with a substantial ₹13,000 crore allocation.

3. Seamless Registration Process:

Aspiring beneficiaries can conveniently register for the PM Vishwakarma scheme at no cost through common service centers using the biometric-based PM Vishwakarma portal.

4. Support for Artisans Across India:

The scheme’s scope encompasses artisans and craftspeople in both rural and urban areas across the nation.

5. Inclusion of Traditional Trades:

Initially, the scheme embraces 18 traditional trades, ranging from carpentry (Suthar) to doll and toy making (traditional), each representing a unique facet of India’s rich cultural heritage.

6. Ambitious Outreach Objectives:

In its inaugural year, the scheme seeks to benefit five lakh families.

Over the course of five years, spanning from FY24 to FY28, it aspires to reach 30 lakh families.

7. Quality Enhancement and Global Integration:

The scheme places a significant emphasis on enhancing the quality and market reach of products and services offered by artisans.

It aims to seamlessly integrate them into both domestic and global value chains.

8. Recognition and Skill Development:

Beneficiaries will be formally recognized through a PM Vishwakarma certificate and ID card.

Skill development forms a central component, with offerings ranging from basic to advanced training.

9. Incentives and Financial Support:

The scheme presents a toolkit incentive of ₹15,000.

Accessible collateral-free credit support, starting with ₹1 lakh followed by ₹2 lakhs as the second tranche, is offered at an advantageous interest rate of 5%.

Further incentives for digital transactions and marketing support are in place to support beneficiaries.

The PM Vishwakarma Scheme stands as a significant stride towards uplifting traditional artisans and preserving India’s diverse cultural legacy. With robust financial backing and a strong focus on skill development, it promises to revitalize the livelihoods of countless artisans, spurring economic growth and celebrating traditional craftsmanship.

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