PM Vishwakarma Scheme

About PM Vishwakarma Scheme

• This is a central sector scheme launched by the Ministry of Micro, Small, and Medium Enterprises, which offers services like market linkage support, skill training, and incentives for digital transactions to artisans and craftspeople engaged in specified trades.
• Time period: Five years (FY 2023-24 to FY 2027-28). 
• Aim: 
  • 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 the products and services of artisans and craftspeople and to ensure that the Vishwakarmas are integrated with the domestic and global value chains.
• Eligibility& coverage:
  • It is available for rural and urban artisans and craftsmen across India.
  • It covers 18 traditional crafts such as Boat Maker; Armourer; Blacksmith; Hammer and Tool Kit Maker; etc.
  • Five lakh families will be covered in the first year and 30 lakh families over five years.
• Benefits:
  • Under this scheme, the artisans and craftspeople will be provided recognition through a PM Vishwakarma certificate and ID card.
  • They will receive collateral-free credit support of up to ₹1 lakh (first tranche) and ₹2 lakh (second tranche) with a concessional interest rate of 5%.
  • The scheme will further provide craftsmen with methods of skill upgradation involving basic and advanced training, a toolkit incentive of ₹15,000 and incentives for digital transactions, and marketing support.
  • Under the scheme, there will be two types of skilling programmes -- Basic and Advanced and a stipend of Rs 500 per day will also be provided to beneficiaries while undergoing skills training.

Q1) What is a central sector scheme?

Central Sector Schemes are those that are implemented by a central agency and 100% funded by the center on subjects within the union list.

Source: 21.15 lakh applications received under PM Vishwakarma Scheme, says Skill Ministry