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Prime Minister Modi Launches PM Vishwakarma Scheme to Empower Traditional Artisans

Prime Minister Narendra Modi has unveiled the ‘PM Vishwakarma’ scheme on the auspicious occasion of ‘Vishwakarma Jayanti.’ This initiative is designed to provide crucial support to traditional craftsmen and artisans by offering them low-interest loans without requiring collateral. With a substantial financial allocation of Rs 13,000 crore over a five-year period, this scheme aims to benefit approximately 30 lakh families of traditional artisans and craftsmen, including weavers, goldsmiths, blacksmiths, laundry workers, and barbers. The primary objective is to enhance the accessibility and quality of products and services provided by these skilled individuals.

Key Features of PM Vishwakarma Scheme:

Collateral-Free Enterprise Development Loans:

    • The scheme offers collateral-free enterprise development loans, including:
      • First tranche: Rs 1 lakh with an 18-month repayment period.
      • Second tranche: Rs 2 lakh with a 30-month repayment period.
    • Beneficiaries will enjoy a concessional interest rate of 5%, with the Ministry of Micro Small and Medium Enterprises providing interest subvention capped at 8%.

Artisan Recognition and Skill Development:

    • Artisans will receive recognition as a Vishwakarma through a certificate and ID card.
    • Skill verification followed by 5-7 days (40 hours) of basic training is part of the scheme.
    • Interested candidates can enroll for 15 days (120 hours) of advanced training, with a stipend of Rs 500 per day provided.

Toolkit Incentive:

    • Artisans will receive a grant of Rs 15,000 as a toolkit incentive to support their craft.

Digital Transaction Incentive:

    • An incentive of Rs 1 per transaction for up to 100 transactions monthly will be provided for digital transactions.

National Committee for Marketing (NCM):

    • The NCM will offer various services, including Quality Certification, Branding & Promotion, E-commerce linkage, Trade Fairs advertising, publicity, and other marketing activities to boost the reach and visibility of artisan products.

Eligibility Criteria:

  • An artisan or craftsperson engaged in one of the 18 family-based traditional trades mentioned in the scheme.
  • Working with hands and tools.
  • Operating in the unorganized sector on a self-employment basis.
  • Minimum age of the beneficiary should be 18 years at the time of registration.

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