PM Vishwakarma Scheme

Syllabus: GS2/ Governance

Context

• The PM Vishwakarma scheme has achieved its target of registering 30 lakh beneficiaries as it approaches three years of implementation.

About the scheme

• Launched in 2023, PM Vishwakarma is a Central Sector Scheme launched by the Ministry of Micro, Small and Medium Enterprises (MSME), with an outlay of ₹13,000 crore for 2023-24 to 2027-28. 
• It covers 18 traditional trades, including Carpenter (Suthar), Boat Maker, Armourer, Blacksmith (Lohar), Hammer and Tool Kit Maker, Locksmith, Goldsmith (Sunar), Potter (Kumhaar), Sculptor (Moortikar)/ stone carver / Stone breaker, Cobbler (Charmkar)/ Shoesmith/ Footwear artisan, Mason (Raajmistri), Basket Maker/ Basket Waver: Mat maker/ Coir Weaver/ Broom maker, Doll & Toy Maker (Traditional), Barber (Naai), Garland Maker (Malakaar), Washerman (Dhobi), Tailor (Darzi) and Fishing Net Maker. 
• The scheme is built around the three pillars of Samman, Samarthya and Samriddhi, and seeks to strengthen the Guru-Shishya parampara and family-based practice of traditional skills.
• Eligibility/Exclusion 
  • It is open to artisans and craftspeople aged 18 years or above who work with their hands and tools in a covered trade and are self-employed in the unorganised sector. 
  • Government employees and their family members are not eligible. 
  • Those who have availed specified similar credit-based self-employment/business loans during the preceding five years are generally excluded. However, beneficiaries of MUDRA and PM SVANidhi who have fully repaid their loans can be eligible. 
• Key Benefits
  • Recognition: PM Vishwakarma Certificate and ID Card after registration and verification. 
  • Skill Training: Basic Training of 5-7 days and Advanced Training of 15 days or more, with a stipend of ₹500 per day.
  • Toolkit Incentive: Up to ₹15,000. 
• Credit Support: Collateral free ‘Enterprise Development Loans’ of upto Rs. 3 lakh in two tranches of Rs. 1 lakh and Rs. 2 lakh with tenures of 18 months and 30 months, respectively, at a concessional rate of interest fixed at 5%, with Government of India subvention to the extent of 8%.
• Marketing Support in the form of quality certification, branding, onboarding on e-commerce platforms such as GeM, advertising, publicity and other marketing activities to improve linkage to value chain.

Source: DDNews