Union Cabinet on Wednesday approved the Pradhan Mantri Vishwakarma Scheme and the budgetary outlay of ₹13,000 crore, a day after Prime Minister Narendra Modi made the announcement of its launch during his Independence Day address.
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Along with providing support to people with traditional skills, the scheme is aimed at giving loans on liberal terms to the local workers who drive majority of the rural economy. Union minister Ashwini Vaishnaw, during the launch of the scheme, said it will benefit around 30 lakh craftsmen families.
According to an official statement, the PM Vishwakarma Scheme will cover 18 traditional trades in the first instance.
“The scheme aims to strengthen and nurture the ‘Guru-Shishya parampara’ or family-based practice of traditional skills by artisans and craftsmen working with their hands and tools,” the statement said.
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- The scheme will have a financial outlay of ₹13,000 crore. In its first instance, as many as 18 rural traders will be covered under this scheme including carpenter, boat maker, blacksmith, locksmith, potter, goldsmith, barber, tailor, mason, garland maker among others.
- Artisans and craftspeople will be provided a recognition through PM Vishwakarma certificate and ID card.
- The scheme has a provision of credit support of up to ₹1 lakh (first tranche) and ₹2 lakh (second tranche) with a concessional interest rate of 5%.
- It also has a provision to provide skill upgradation, incentive for toolkit as well as digital transactions and marketing support.
- Skilling programme will take place at both basic and advanced types. Participants will get a stipend of ₹500 per day while undergoing training.
- Beneficiaries will also receive up to ₹15,000 to buy modern tools.
- The scheme also aims at improving the quality, as well as the reach of products and services of artisans and craftsmen and to ensure that Vishwakarmas are integrated with the domestic and global value chains
