PM Vishwakarma Yojana: The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi on Wednesday approved the PM Vishwakarma Yojana with a financial outlay of Rs 13,000 crore for a period of five years (FY24 to FY28). The approval comes a day after PM Modi mentioned the upcoming launch of the scheme on Vishwakarma Jayanti in September in his Independence Day address on August 15.
Announced in this year’s budget by Finance Minister Nirmala Sitharaman, the scheme will offer artisans and craftspeople recognition through PM Vishwakarma certificate and ID card, credit support up to Rs 1 lakh in the first tranche and Rs 2 lakh in the second tranche with a concessional interest rate of 5 per cent. The scheme will also provide for skill upgradation, toolkit Incentive, incentive for digital transactions and marketing support, the MSME Ministry said in a statement.
Also read: PM Vishwakarma Yojana for artisans to be launched on Vishwakarma Jayanti in September
Under the scheme, artisans and craftspeople from rural and urban areas belonging to 18 traditional trades will be covered in the first instance. The trades include carpenter, boat maker, armourer, blacksmith, hammer and tool kit maker, locksmith, goldsmith, potter, sculptor, stone breaker, cobbler, mason, basket/mat/broom maker/coir weaver, doll & toy maker, barber, garland maker, washerman, tailor, and fishing net maker.
Earlier this year in his post-budget address, PM Modi had urged all stakeholders to discuss among themselves and prepare a strong action plan to reach out to artisans who live in very remote areas as well.
“There are many of them (artisans) who can become suppliers and producers for our MSME sector. The industrial world can increase production by linking these people with their needs. The industry can also provide them skill and quality training,” he said highlighting the significance of the scheme.
In February this year, the Khadi promotion body, Khadi and Village Industries Commission (KVIC) had announced increasing the wages of Khadi weavers from Rs 7.50 per hank to Rs 10 per hank in order to increase the monthly income of artisans by around 33 per cent and of weavers by 10 per cent.