What is PM Vishwakarma Scheme: Empowering artisans and craftsmen with formal recognition, financial aid up to INR 2 lakh, and skill development. Prime Minister Modi’s vision to bridge tradition and modernity.
The Cabinet Committee on Economic Affairs, led by Prime Minister Narendra Modi, has granted approval for the ambitious PM Vishwakarma Scheme. With a substantial financial allocation of INR 13,000 crore over a span of five years (FY24 to FY28), this pioneering initiative aims to uplift and support artisans and craftsmen across the nation. The scheme’s introduction follows Prime Minister Modi’s announcement of its imminent launch on Vishwakarma Jayanti in September, as part of his address on India’s 76th Independence Day. Let’s explore what is PM Vishwakarma Scheme.
Acknowledgement and Aid
Championed by Finance Minister Nirmala Sitharaman in this year’s budget speech, the PM Vishwakarma Scheme strives to provide formal recognition to skilled artisans and craftsmen. Through the issuance of the PM Vishwakarma certificate and ID card, these talented individuals will receive acknowledgement for their contributions to traditional trades. Furthermore, the scheme extends a much-needed financial boost by offering credit support. In the initial phase, artisans can access up to INR 1 lakh, followed by an enhanced allocation of INR 2 lakh in the subsequent phase. What’s more, the financial support comes with the advantage of a concessional interest rate set at 5 percent.
Comprehensive Support and Development
Beyond financial assistance, the PM Vishwakarma Scheme also encompasses provisions for comprehensive support and development. The Ministry of Micro, Small and Medium Enterprises (MSME) outlines that the scheme encompasses skill enhancement opportunities, incentives for toolkits, encouragement for digital transactions, and essential marketing support. This comprehensive approach underscores the government’s commitment to fostering growth and sustainability within the artisan community.
Empowering Traditional Trades
The scheme takes a holistic approach by including artisans and craftsmen from both urban and rural areas, spanning a diverse range of 18 traditional trades. From carpenters and shipwrights to metalworkers and blacksmiths, the initiative covers a gamut of skills that are integral to India’s cultural and industrial heritage. Additional trades include tool manufacturers, locksmiths, goldsmiths, potters, artists, sculptors, stone masons, cobblers, builders, makers of baskets/mats/brooms/coir weavers, doll and toy manufacturers, barbers, garland creators, launderers, tailors, and fishing net makers.
What is PM Vishwakarma Scheme: PM Modi’s Vision
Prime Minister Modi’s vision for the PM Vishwakarma Scheme emphasizes its transformative potential. He has urged stakeholders to collaborate in creating a robust action plan to reach artisans living in remote regions. By connecting artisans with the needs of the industrial sector, the scheme aims to elevate production capacities and opportunities for these skilled individuals. Prime Minister Modi also underscores the scheme’s potential to bridge the gap between traditional craftsmanship and modern industries, fostering entrepreneurship and sustainable growth.
Path to Prosperity
In a significant move, the Khadi and Village Industries Commission (KVIC) announced earlier this year an increase in wages for Khadi weavers. This wage hike from INR 7.50 per hank to INR 10 per hank aims to uplift artisans’ monthly income by around 33 percent and weavers’ income by 10 percent, further reinforcing the government’s commitment to enhancing the livelihoods of those contributing to India’s vibrant artisanal landscape.