PM Vishwakarma Scheme makes headway with 2.58 crore artisans on board
The Centre’s PM Vishwakarma Yojana, aimed at uplifting traditional craftspeople and artisans such as carpenters, masons, and tailors, has made considerable progress with 2.58 crore applications submitted so far.
Of these, 23.75 lakh applicants have been successfully registered to receive benefits under the scheme after a three-stage verification process, according to data compiled by the National Skill Development Corporation (NSDC).
Close to 10 lakh people have received toolkit incentives of up to Rs 15,000 through e-vouchers to purchase modern tools suitable for their occupations.
As of July 29, 2024, loan sanctions have been granted to 56,526 applications, totaling Rs 551.80 crore. The loan carries a 5 percent interest rate, subsidized by the government, which provides an 8 percent interest subvention, effectively reducing the overall loan cost. The loan can be repaid over 18 months for the first tranche and 30 months for the second tranche.
The PM Vishwakarma Scheme was launched on September 17 last year to provide end-to-end support to artisans and craftspeople in 18 trades who work with their hands and tools. The objective is to help traditional artisans and craftspeople become entrepreneurs and self-reliant.
Formal training in the form of Basic Skill Training has been initiated for the upgrade and modernization of traditional skills of artisans and craftspeople under the PM Vishwakarma Scheme across 26 states and Union Territories of the country.
The scheme’s components include recognition through the PM Vishwakarma Certificate and ID Card, skill upgradation, toolkit incentives, credit support, incentives for digital transactions, and marketing support. It is expected that the scheme will generate livelihood opportunities for artisans and craftspeople, enhance their skills, and integrate modern tools and technology into their work. Additionally, they will be provided with linkages to domestic and global markets.
