PM Vishwakarma Yojana 2023: A Boon for Traditional Artisans
The Pradhan Mantri Vishwakarma Yojana (PM Vishwakarma Yojana) is a new central sector scheme launched by the Government of India on September 17, 2023. The scheme is aimed at empowering traditional artisans and craftspeople by providing them with financial assistance, skill training, and other support.
Objectives of PM Vishwakarma Yojana
The PM Vishwakarma Yojana has the following objectives:
To provide financial assistance to traditional artisans and craftspeople to help them start or grow their businesses.
To enhance the skills of traditional artisans and craftspeople through skill training and other programs.
To promote the products and services of traditional artisans and craftspeople in domestic and international markets.
To improve the socio-economic status of traditional artisans and craftspeople.
Benefits of PM Vishwakarma Yojana
The PM Vishwakarma Yojana offers a variety of benefits to traditional artisans and craftspeople, including:
Financial assistance: The scheme provides financial assistance in the form of loans, subsidies, and grants to traditional artisans and craftspeople. The loans are available at subsidized interest rates and can be used for a variety of purposes, such as setting up a new business, purchasing machinery and equipment, or expanding an existing business.
Skill training: The scheme provides skill training to traditional artisans and craftspeople in order to help them improve their skills and knowledge. The training programs are designed to meet the specific needs of different artisan and craftsperson communities.
Marketing support: The scheme provides marketing support to traditional artisans and craftspeople to help them promote their products and services in domestic and international markets. The government organizes trade fairs, exhibitions, and other marketing events to help artisans and craftspeople sell their products.
Other benefits: The scheme also offers a variety of other benefits to traditional artisans and craftspeople, such as insurance coverage, welfare schemes, and access to government markets.
Eligibility for PM Vishwakarma Yojana
To be eligible for the PM Vishwakarma Yojana, an applicant must be:
A citizen of India.
A traditional artisan or craftsperson.
Above the age of 18 years.
How to Apply for PM Vishwakarma Yojana
To apply for the PM Vishwakarma Yojana, an applicant can visit the official website of the scheme and fill out an online application form. The applicant must also submit the following documents along with the application form:
Proof of identity and address.
Proof of caste/community certificate.
Proof of income.
Details of the proposed business or activity.
Implementation of PM Vishwakarma Yojana
The PM Vishwakarma Yojana is being implemented by the Ministry of Micro, Small and Medium Enterprises (MSME). The government has earmarked a financial allocation of Rs 13,000 crore for the scheme over the next five years.
Impact of PM Vishwakarma Yojana
The PM Vishwakarma Yojana is expected to have a significant impact on the lives of traditional artisans and craftspeople in India. The scheme is expected to help artisans and craftspeople start or grow their businesses, improve their skills and knowledge, and promote their products and services in domestic and international markets.
How can artisans avail credit support under this scheme?
Artists must register on the PM Vishwakarma portal in order to receive credit support under the PM Vishwakarma scheme. With a discounted interest rate of 5%, the program offers collateral-free financial support up to Rs. 1 lakh (in the first tranche) and Rs. 2 lakh (in the second tranche). The Ministry of Micro, Small, and Medium Enterprises covers the 8% interest subvention ceiling. No collateral is needed under the plan in order to use loan facilities. The scheme specifies the lending organizations that may offer credit under the scheme.
What is the maximum loan amount under PM Vishwakarma?
Maximum 5% interest rate on a Rs. 1 lakh loan under the Vishwakarma scheme. With a 5% concessional interest rate, artisans and craftspeople would be given credit support up to 1 lakh (in the first tranche) and 2 lakh (in the second tranche).
Conclusion
The PM Vishwakarma Yojana is a welcome step taken by the Government of India to support and empower traditional artisans and craftspeople. The scheme is expected to have a significant impact on the lives of artisans and craftspeople by helping them improve their socio-economic status.
In addition to the case studies mentioned above, here are some other potential benefits of the PM Vishwakarma Yojana:
Preservation of cultural heritage: Traditional arts and crafts are an integral part of India's cultural heritage. The PM Vishwakarma Yojana is expected to help preserve and promote India's rich cultural heritage by supporting traditional artisans and craftspeople.
Employment generation: The PM Vishwakarma Yojana is expected to generate employment opportunities for traditional artisans and craftspeople. This will help to reduce poverty and unemployment in India.
Rural development: Traditional arts and crafts are mainly concentrated in rural areas. The PM Vishwakarma Yojana is expected to boost rural development by supporting traditional artisans and craftspeople in rural areas.
Overall, the PM Vishwakarma Yojana is a well-conceived scheme that is expected to have a positive impact on the lives of traditional artisans and craftspeople in India.
You may access the official website, PM Vishwakarma. https://pmvishwakarma.gov.in/
