Union Cabinet approves new Central Sector Scheme ‘PM Vishwakarma’ to support traditional artisans and craftspeople of rural and urban India
The Cabinet approved a new Central Sector Scheme “PM Vishwakarma” with a financial outlay of INR 13,000 Cr for a period of five years (FY 2023-24 to FY 2027-28). The scheme aims to strengthen and nurture the family-based practice of traditional skills by artisans and craftspeople working with their hands and tools. The scheme also aims at improving the quality, as well as the reach of products and services of artisans and craftspeople and to ensure that the Vishwakarmas are integrated with the domestic and global value chains.
Under PM Vishwakarma scheme, the artisans and craftspeople will be provided recognition through PM Vishwakarma certificate and ID card, Credit Support upto INR 1 Lakh (First Tranche) and INR 2 Lakh (Second Tranche) with a concessional interest rate of 5%. The Scheme will further provide Skill Upgradation, Toolkit Incentive, Incentive for Digital Transactions and Marketing Support.