Cabinet Approves New ‘PM Vishwakarma’ Scheme

PM Vishwakarma Yojana

The Cabinet Committee on Economic Affairs, under the leadership of Prime Minister Shri Narendra Modi, has given its approval to a new Central Sector Scheme named “PM Vishwakarma.” This scheme is allocated a budget of ₹13,000 crores and is set to be implemented over a span of five years, covering the period from FY 2023-24 to FY 2027-28.

Download Free February 2024 BOLT PDF (Current Affairs)

The Union Cabinet has also given its approval to a new bus Scheme named “PM-eBus Sewa” to Augment City Bus Operations

More About the PM Vishwakarma Yojana

Purpose/Objective

The newly approved “PM Vishwakarma” scheme has a significant purpose – to strengthen and preserve the age-old tradition of Guru-Shishya parampara, where artisans and craftspeople pass down their traditional skills within families.
This scheme also aims to enhance the quality and accessibility of products and services provided by these skilled individuals and ensure their integration into both domestic and global value chains.

Benefits of the PM Vishwakarma Scheme

Under the PM Vishwakarma scheme, artisans and craftspeople will receive recognition through a special certificate and ID card.
They will also be eligible for credit support of up to ₹1 lakh in the first phase and ₹2 lakhs in the second phase, with a favorable interest rate of 5%.
The scheme will additionally offer skill improvement opportunities, incentives for obtaining toolkits, rewards for digital transactions, and assistance with marketing.

Beneficiaries

The PM Vishwakarma scheme will extend its support to artisans and craftsmen residing in both rural and urban areas across India. In its initial phase, the scheme will encompass eighteen traditional trades, ensuring comprehensive coverage of a diverse range of skills. These trades include:

Carpenter (Suthar)
Boat Maker
Armourer
Blacksmith (Lohar)
Hammer and Tool Kit Maker
Locksmith
Goldsmith (Sonar)
Potter (Kumhaar)
Sculptor (Moortikar, stone carver), Stonebreaker
Cobbler (Charmkar) / Shoesmith / Footwear artisan
Mason (Rajmistri)
Basket / Mat / Broom Maker / Coir Weaver
Doll & Toy Maker (Traditional)
Barber (Naai)
Garland Maker (Malakaar)
Washerman (Dhobi)
Tailor (Darzi)
Fishing Net Maker

This wide-ranging selection of trades reflects the rich cultural and artisanal heritage of India, ensuring that various skills are supported and nurtured for the benefit of both the artisans and the country as a whole.

Shubham Mittal

Shubham Mittal is a renowned current affairs writer and expert in government exam preparation, inspiring readers with insightful articles and guiding aspirants with his expertise.

Oliveboard Live Courses & Mock Test Series