US$ 1.6 billion (Rs. 13,000 crore) have been provided for the PM Vishwakarma Scheme from FY 2023-2024 to FY 2027-28
- Press Information Bureau
- December 22, 2023
The PM Vishwakarma Scheme aims to support artisans and craftspeople engaged in 18 traditional trades, recognizing them as Vishwakarma. The scheme provides benefits such as skill upgrading, access to modern tools, collateral-free credit, and reduced interest costs. It encourages digital transactions and offers a platform for brand promotion and market linkages. The financial outlay from FY 2023-2024 to FY 2027-28 is US$ 1.6 billion (Rs. 13,000 crores), with a breakdown of budget allocation for each year.
Eligibility criteria for the scheme include artisans or craftspeople aged 18 and above, engaged in one of the 18 specified trades in the unorganized sector. Applicants should not have availed of similar loans in the past five years, and benefits are restricted to one family member. As of December 18, 2023, 57,815 applications have been registered, with 177 candidates completing basic training, and 133 assessed and certified. The trades covered range from carpentry and blacksmithing to doll making and fishing net crafting.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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