PM Vishwakarma Scheme

PM Vishwakarma Scheme Latest News

The Government of India has invited 100 beneficiaries of PM Vishwakarma from the Delhi-NCR region as ‘Special Guests’ to witness the 80th Independence Day Ceremony at the Red Fort, Delhi. 

About PM Vishwakarma Scheme

• It is a central sector scheme launched in 2023.
• It is aimed at providing comprehensive support to artisans and craftspeople engaged in traditional trades.
• Objective: Promoting the socio-economic empowerment of artisans, strengthening traditional crafts and ensuring sustainable livelihoods.
• The scheme provides assistance through skill upgradation, modern tools, financial support, digital enablement and market linkages.
• Nodal Ministry: Ministry of Micro, Small, and Medium Enterprises.
• Time period: Five years (FY 2023-24 to FY 2027-28). 
• Eligibility & coverage
  • It is available for rural and urban artisans and craftsmen across India.
  • It covers 18 traditional crafts such as Boat Maker; Armourer; Blacksmith; Hammer and Tool Kit Maker; etc.
  • Aged 18+, engaged in traditional trade, no similar loans in the past 5 years.

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Key Features of PM Vishwakarma Scheme

• Recognition: Recognition of artisans and craftspeople through PM Vishwakarma certificate and ID card.
• Skill Upgradation: Basic Training of 5-7 days and Advanced Training of 15 days or more, with a stipend of Rs. 500 per day;
• Toolkit Incentive: A toolkit incentive of upto Rs. 15,000 in the form of e-vouchers at the beginning of Basic Skill Training.
• Credit Support: Collateral free ‘Enterprise Development Loans’ of upto Rs. 3 lakh in two tranches of Rs. 1 lakh and Rs. 2 lakh at a concessional rate of interest fixed at 5%

Source: PIB