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PM Vishwakarma Yojana: ₹13,000 Crore Allocated for Five-Year Period

In a significant move towards uplifting artisans and craftspeople across India, the Union Government has launched the PM Vishwakarma Yojana. This ambitious initiative, with a substantial financial outlay of ₹13,000 crore for five years, aims to bring prosperity to 30 lakh families engaged in traditional trades. By offering a wide array of benefits, from free registration to credit support and skill development, the scheme seeks to empower these artisans and craftspeople, fostering self-reliance and contributing to poverty alleviation.

Key Features of PM Vishwakarma Yojana

  1. Full Funding: PM Vishwakarma Yojana is fully funded by the Union Government, with ₹13,000 crore allocated for the period from FY 2023-24 to FY 2027-28. This significant financial support forms the backbone of the scheme’s comprehensive approach.
  2. Free Registration: The Vishwakarmas, skilled artisans and craftspeople, will be registered free of charge through Common Services Centres using a biometric-based PM Vishwakarma Portal. This ensures easy access to the benefits of the scheme.
  3. Recognition: The artisans will receive recognition through a PM Vishwakarma Certificate and an ID Card, acknowledging their valuable contributions to traditional trades.
  4. Credit Support: The scheme provides collateral-free credit support to artisans, with an initial tranche of ₹1 lakh and a subsequent tranche of ₹2 lakh, both offered at a concessional interest rate of 5%. This financial assistance empowers artisans to invest in their work and businesses.
  5. Skill Upgradation: PM Vishwakarma Yojana offers methods of skill upgradation, including basic and advanced training, ensuring that artisans stay competitive and relevant in their fields.
  6. Toolkit Incentive: Artisans will receive a toolkit incentive of ₹15,000, enabling them to improve the quality and efficiency of their work.
  7. Digital Transactions: The scheme encourages digital transactions and provides marketing support, helping artisans expand their reach and access new markets.
  8. Inclusive Coverage: Initially, 18 traditional trades will be covered under PM Vishwakarma Yojana, benefiting a diverse range of skilled individuals.

Empowering the Artisans of India

PM Vishwakarma Yojana is a visionary effort to uplift the Vishwakarmas of India who tirelessly crafts with their hands and tools. By connecting them to the mainstream of development and making them self-reliant, the scheme aims to unlock their full potential. This support will not only enhance the lives of artisans and craftspeople but also aid the poverty-alleviation efforts of the Government.

The PM Vishwakarma Yojana is a beacon of hope for artisans and craftspeople in India. With its comprehensive approach, generous financial support, and commitment to skill development, it sets the stage for their prosperity and success. By connecting these talented individuals to the mainstream of development, the scheme fosters self-reliance and contributes to the overall growth and development of the nation. PM Vishwakarma Yojana is a step towards recognizing and empowering the hands that shape India’s cultural and economic heritage.

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