About PM Vishwakarma Scheme:
- It is a central sector scheme launched by the Ministry of Micro, Small, and Medium Enterprises.
- It aims 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.
- It offers services like market linkage support, skill training, and incentives for digital transactions to artisans and craftspeople engaged in specified trades.
- 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.
- 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%
- Coverage: Five lakh families will be covered in the first year and 30 lakh families over five years.
