PM VISHWAKARMA YOJANA

1. Context 

• The Indian government is set to launch the PM Vishwakarma Yojana on the occasion of Vishwakarma Jayanti, observed on September 17.
• Prime Minister Narendra Modi announced the scheme during his Independence Day address, highlighting its focus on individuals skilled in traditional craftsmanship, especially from the Other Backward Classes (OBC) community.

2. About Vishwakarma Yojana

• The Vishwakarma Yojana aims to uplift a range of traditional industries including weaving, goldsmithing, blacksmithing, laundry work, and barbering.
• This scheme is designed to strengthen and empower artisans and craftsmen engaged in traditional industries, particularly those associated with the Micro, Small, and Medium Enterprises (MSME) sector.
• An initial allocation of approximately Rs 13-15 thousand crore will kickstart the scheme.
• This initiative was proposed in the current year's budget with the primary goal of enhancing the quality, scale, and reach of products crafted by traditional artisans and integrating them into the broader MSME value chain.

3. Objectives of the Scheme

The scheme is envisioned as a comprehensive Central Sector Scheme with a two-fold objective:

1. Preserving the Guru-Shishya Parampara (the age-old tradition of skills being passed down through generations within families) and
2. Elevating artisans and craftsmen involved in manual trades.

Image Source: Twitter 

4. Key Highlights of the PM Vishwakarma Scheme

Financial Provision: The scheme is backed by a substantial budgetary allocation of Rs 13,000 crore, underscoring the government's commitment to provide robust financial support to traditional artisans.

Recognition and ID: Artisans and craftsmen will receive formal recognition through the prestigious PM Vishwakarma certificate and an official identification card. This acknowledgement validates their skills and contributions to the nation's cultural and economic landscape.

Credit Support: The scheme offers access to credit support, including a first-tranche loan of up to Rs 1 lakh and a second-tranche loan of up to Rs 2 lakh, with a favourable interest rate of 5%.

Skill Upgradation: To enhance their expertise, artisans will participate in skill upgradation programs encompassing both basic and advanced training. During training, participants will receive a stipend of Rs 500 per day.

Modern Tools and Incentives: Beneficiaries will receive financial assistance of up to Rs 15,000 to acquire modern tools, enhancing the efficiency and quality of their craftwork.

Digital Transactions and Marketing: The scheme encourages artisans to adopt modern practices, including digital transactions and marketing strategies, thereby linking them with broader markets and increasing their reach and revenue potential.

5. The Way Forward

• This initiative aims to rejuvenate and empower traditional trades that form the backbone of rural economies.
• By bridging the gap between age-old craftsmanship and modern economic realities, the PM Vishwakarma Yojana is poised to transform the lives of countless artisans, provide them with new opportunities, and preserve India's rich cultural heritage.