Recently, the Cabinet Committee on Economic Affairs chaired by the Prime Minister of India approved the PM Vishwakarma scheme.
About PM Vishwakarma Yojana:
It is a Central Sector Scheme with a financial outlay of Rs.13,000 crore.
Time period: Five years (FY 2023-24 to FY 2027-28).
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 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 this scheme, the artisans and craftspeople will be provided recognition through PM Vishwakarma certificate and ID card, Credit Support upto Rs.1 lakh (First Tranche) and Rs.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.
Under the scheme, there will be two types of skilling programmes -- Basic and Advanced and a stipend of Rs 500 per day will also be provided to beneficiaries while undergoing skills training.