Introducing Vishwakarma Yojana: Empowering Traditional Artisans with Financial Support
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.
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.
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.
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.
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.
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.
The Vishwakarma Yojana aspires to create a comprehensive ecosystem of support for traditional artisans. It encompasses various components, including:
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.
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.
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.
Find More News Related to Schemes & Committees
Mushrooms are a popular and nutritious food source globally, cultivated in various countries due to…
Durba Banerjee made history as India's first female pilot of Indian airlines, paving the way…
The Indian National Congress (INC) was formed in 1885 to create a platform for political…
The Rajasthan State Cabinet, led by Chief Minister Bhajan Lal Sharma, has approved a significant…
The British government has announced plans to erect a national memorial for Queen Elizabeth II…
In celebration of the birth anniversary of Hockey Legend Major Dhyan Chand and in alignment…