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PM Vishwakarma Scheme: Benefits and Eligibility

The Pradhan Mantri Vishwakarma Kaushal Samman Yojana (PM Vishwakarma Scheme) is a new Central Sector Scheme launched by the Prime Minister Narendra Modi on September 17, 2023, on the occasion of Vishwakarma Jayanti. 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.

Benefits of the Vishwakarma Yojana

  • Training and Skill Enhancement: Under the PM Vishwakarma Scheme, traditional artisans will receive an invaluable opportunity to enhance their skills through a comprehensive 6-day training program. This training is tailored to the specific needs of carpenters, tailors, basket weavers, barbers, goldsmiths, blacksmiths, potters, confectioners, cobblers, and others, empowering them with advanced techniques and knowledge.
  • Financial Support: The PM Vishwakarma scheme goes beyond training by offering substantial financial assistance ranging from Rs 10,000 to Rs 10 lakh. This monetary aid enables beneficiaries to kickstart their endeavors and expand their businesses, resulting in improved livelihoods.
  • Employment Opportunities: The PM Vishwakarma Scheme is a catalyst for creating employment avenues. It aims to generate employment for approximately 15,000 individuals annually, fostering economic growth and stability.
  • Online Application Process: Aspiring beneficiaries can easily access the scheme by applying online. This user-friendly approach simplifies the application process and ensures that deserving candidates can readily avail themselves of the scheme’s benefits.
  • Full Cost Coverage: The state government takes on the responsibility of covering the entire cost of various training programs under the Vishwakarma Scheme. This ensures that artisans can receive high-quality training without any financial burden.

Documents Required For PM Vishwakarma Yojana 2023

  • Passport Size Photograph
  • Aadhar Card Number, PAN Card Number, and Other Details
  • Mobile Number, and Email ID
  • Domicile Certificate
  • Caste Certificate
  • Bank Account & Passbook Details

In addition to the benefits listed above, the PM Vishwakarma Scheme is also expected to have a number of other positive impacts, including

  • Boosting the incomes of traditional artisans and craftspeople
  • Creating new jobs and opportunities in the traditional arts and crafts sector
  • Preserving and promoting India’s rich cultural heritage
  • Making traditional Indian arts and crafts more competitive in the global market

Scheme Overview: Nurturing Traditional Artistry

Introducing Vishwakarma Yojana: Empowering Traditional Artisans with Financial Support
Introducing Vishwakarma Yojana: Empowering Traditional Artisans with Financial Support

The Vishwakarma Yojana is a visionary initiative by the Indian government designed to extend financial assistance to individuals engaged in traditional crafts and skills. This scheme seeks to provide a strong support system to artisans, enabling them to flourish in their crafts while also contributing to the preservation of India’s rich cultural heritage.

Financial Assistance for Artisans

Under the umbrella of the Vishwakarma Yojana, a dedicated allocation of Rs 13,000 crore has been earmarked to empower artisans across the country. The scheme offers subsidized loans of up to Rs 2 lakh to craftsmen, aiming to alleviate financial constraints that might impede their artistic pursuits.

Phased Loan Disbursement with Favorable Interest Rates

In its initial phase, the PM Vishwakarma scheme will extend loans of up to Rs 1 lakh to artisans at an incredibly low interest rate of 5%. This interest rate is significantly lower than prevailing market rates, enabling artisans to access credit without the burden of exorbitant interest charges. In the subsequent phase, the scheme will further provide credit support of up to Rs 2 lakh, continuing to maintain the favorable 5% interest rate.

Comprehensive Skill Enhancement

Recognizing the importance of skill development in today’s rapidly evolving world, the Vishwakarma Yojana goes beyond financial aid. It places a strong emphasis on enhancing artisans’ skills through advanced training programs. This initiative aims to ensure that traditional artistry is not only preserved but also updated to meet contemporary standards.

Incentives for Skill Training and Tool Procurement

The scheme incorporates a thoughtful approach by offering stipends for skill training. Artisans will receive a stipend of Rs 500, enabling them to pursue skill enhancement without financial worries. Additionally, a sum of Rs 1500 will be provided to facilitate the purchase of modern tools, empowering artisans to work with greater efficiency and precision.

Holistic Support System

The Vishwakarma Yojana aspires to create a comprehensive ecosystem of support for traditional artisans. It encompasses various components, including:

  1. Liberal Loan Terms: Ensuring easy access to loans for artisans.
  2. Skill Upgradation: Equipping artisans with advanced techniques and knowledge.
  3. Toolkit Incentive: Providing financial assistance for procuring modern tools.
  4. Digital Transaction Incentives: Encouraging artisans to embrace digital transactions.
  5. Marketing Support: Assisting artisans in marketing their crafts effectively.

Envisioned Impact

Union Minister Ashwini Vaishnaw estimates that approximately 30 lakh families stand to benefit from the Vishwakarma Yojana. This far-reaching scheme is poised to uplift traditional artisans, enhancing their socio-economic status and contributing to the preservation of India’s rich cultural tapestry.

Seamless Registration Process

To facilitate easy enrollment, the government has designated common services centers in villages as registration points for the scheme. This user-friendly approach aims to ensure that artisans from diverse corners of the country can seamlessly become a part of this transformative initiative.

Central Government Funding with State Collaboration

The entire financial backing for the Vishwakarma Yojana comes from the central government. While the scheme’s foundation is built on central support, the collaboration of state governments will be crucial in its effective implementation.

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