PM Vishwakarma Scheme

The Union Cabinet has approved the PM Vishwakarma Scheme, a ground-breaking initiative aimed at elevating India’s artisans and craftspeople.

  • Supporting Artisans: It will be a Central Sector Scheme with two goals: to promote the Guru-Shishya Parampara: an age-old tradition of skill transmission within families, and to uplift artisans and craftsmen involved in manual trades.
  • In its initial phase, this comprehensive system covers 18 traditional trades, including blacksmiths, carpenters, potters, goldsmiths, tailors, and others who constitute the foundations of rural economies.

Key Scheme

  • Financial Provisions: The scheme is backed by a budget of 13,000 crore, giving significant financial support to artists and craftspeople.
  • Artists and crafters will be recognised with the coveted PM Vishwakarma certificate and an official ID card, certifying their abilities and achievements.
  • Credit Support: The scheme provides credit support, with up to 1 lakh available in the first tranche and 2 lakh available in the second tranche, at a favourable interest rate of 5%.
  • To improve competence, the scheme comprises skill upgradation programmes that cover both basic and advanced training. During training, participants will be paid a stipend of $500 each day.
  • Contemporary Tools and Incentives: Beneficiaries will get up to $15,000 in grants to purchase contemporary tools, which will improve the quality and efficiency of their job.
  • Digital Transactions and Marketing: The scheme fosters digital transactions and marketing assistance, connecting craftsmen with larger markets by embracing current practises.
And get notified everytime we publish a new blog post.