Recently, the Cabinet Committee on Economic Affairs chared by the Prime Minister of India has approved a new Central Sector Scheme “PM Vishwakarma”
About PM Vishwakarma Scheme
- Announced on- August 15, 2023
- Approved on- August 16, 2023
- Scheme type- Central Sector Scheme
- Financial outlay – Rs. 13,000 crore
- Duration- For a period of five years (FY 2023-24 to
- The scheme aims 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.
- Under PM Vishwakarma scheme, the artisans and craftspeople will be provided recognition through PM Vishwakarma certificate and ID card.
- It will provide Credit Support upto Rs.1 lakh (First Tranche) and Rs 2 lakh (Second Tranche) with amconcessional interest rate of 5%
- The Scheme will further provide Skill Upgradation, Toolkit Incentive, Incentive for Digital Transactions and Marketing Support.
- The scheme will provide support to artisans and craftspeople of rural and urban areas across India.
- Eighteen traditional trades will be covered in the first instance under PM Vishwakarma.