Indian Economy News

Prime Minister Mr. Narendra Modi launches PM Vishwakarma Scheme at New Delhi

Prime Minister Mr. Narendra Modi has unveiled the 'PM Vishwakarma' scheme, with an allocation of Rs. 13,000 crore (US$ 1.56 billion) to support traditional artisans. The event was held in Dwarka, New Delhi, at the recently opened India International Convention & Expo Centre.

The newly launched scheme will provide skill enhancement through both basic and advanced training, a toolkit incentive of Rs. 15,000 (US$ 180.48), collateral-free credit support of up to Rs. 1 lakh (US$ 1,203.19) (first tranche) and Rs. 2 lakh (US$ 2,406.37) (second tranche) at a 5% concessional interest rate, incentives for digital transactions, and marketing support.

PM Mr. Modi said “Under PM Vishwakarma scheme, govt has focussed on providing special training to the Vishwakarma partners and Rs. 500 (US$ 6.02) will be provided to you while the training is underway. You will also get a Toolkit voucher worth Rs. 1,500 (US$ 18.05). The government will also help you in branding, packaging, and marketing the products you make. In return, the Government wants you to purchase Toolkits from shops that are GST registered only”.

The plan will register 'Vishwakarmas', who create with their hands and tools, at no cost through Common Services Centres, utilising the biometric based 'PM Vishwakarma' platform. These artisans and craftspeople will be recognised with a certificate and ID card from PM Vishwakarma.

It will aid artisans and craftspeople in both rural and urban India. It includes eighteen traditional crafts, such as carpenter, boat maker, armourer, blacksmith, hammer and tool kit maker, locksmith, goldsmith, potter, sculptor, stone breaker, cobbler (shoesmith/footwear artisan), mason (rajmistri), basket, mat, broom maker, coir weaver, doll and toy maker (traditional), barber, garland maker, washerman, tailor, and fishing net maker.

The fundamental goal of PM Vishwakarma Scheme is to improve the quality and reach of products and services created by artists and craftspeople, ensuring their inclusion in both domestic and global value chains.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.