The Cabinet Committee on Economic Affairs approved a new Central Sector Scheme “PM Vishwakarma” with a financial outlay of Rs.13,000 crore for a period of five years (FY 2023-24 to FY 2027-28).
Key features
- The scheme aims to strengthen and nurture the Guru-Shishya parampara or family-based practice of traditional skills by artisans and craftspeople working with their hands and tools.
- The scheme also aims at improving the quality, as well as the reach of products and services of artisans and craftspeople and to ensure that the Vishwakarmas are integrated with the domestic and global value chains.
- Under PM Vishwakarma scheme, the artisans and craftspeople will be provided recognition through PM Vishwakarma certificate and ID card.
- They will be provided Credit Support upto Rs.1 lakh (First Tranche) and Rs.2 lakh (Second Tranche) with a concessional interest rate of 5%.
- The Scheme will further provide Skill Upgradation, Toolkit Incentive, Incentive for Digital Transactions and Marketing Support.
- The scheme will provide support to artisans and craftspeople of rural and urban areas across India.
- Eighteen traditional trades will be covered in the first instance under PM Vishwakarma.
