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PM Vishwakarma : A New Scheme to transform Unorganized MSME's Sector

By Anand Krishnan --
Tuesday, 10 Oct, 2023

On September 17, 2023, Prime Minister Narendra Modi launched the PM Vishwakarma scheme in New Delhi on the occasion of Vishwakarma Jayanti, for giving government support to workers engaged in traditional crafts and skills.

Who are the eligible beneficiaries under this scheme: The Scheme covers artisans and craftsmen engaged in following 18 trades, viz.

(i) Carpenter (Suthar/Badhai)

(ii) Boat Maker

(iii) Armourer

(iv) Blacksmith (Lohar)

(v) Hammer and Tool Kit Maker

(vi) Locksmith

(vii) Goldsmith(Sonar)

(viii) Potter (Kumhaar)

(ix) Sculptor (Moortikar, stone carver), Stone breaker

(x) Cobbler (Charmkar)/ Shoesmith/Footwear artisan

(xi) Mason (Rajmistri)

(xii) Basket/Mat/Broom Maker/CoirWeaver

(xiii) Doll & Toy Maker (Traditional)

(xiv) Barber (Naai)

(xv) Garland maker (Malakaar)

(xvi) Washerman (Dhobi)

(xvii) Tailor (Darzi)

(xviii) Fishing Net Maker.

How unorganized sector workers/artisans will be benefited from the scheme?

The Scheme envisages provisioning of the following benefits to the artisans and craftsmen:

(i) Recognition: Recognition of artisans and craftspeople through PM Vishwakarma certificate and ID card.

(ii) Skill Upgradation: Basic Training of 5-7 days, and an Advanced Training of 15 days or more, will be provided with a stipend of Rs. 500/- per day;

(iii) Toolkit Incentive: A toolkit incentive of up to Rs. 15,000/- in the form of e-vouchers will be credited at the beginning of Basic Skill Training.

(iv) Credit Support: Collateral free ‘Enterprise Development Loans’ of upto Rs. 3 lakh in two tranches of Rs. 1 lakh, and Rs. 2 lakh with tenures of 18 months and 30 months, respectively, at a concessional rate of interest fixed at 5%, with Government of India subvention to the extent of 8%.

Beneficiaries who have completed Basic Training will be eligible to avail the first tranche of credit support of upto Rs. 1 lakh. The second loan tranche will be available to beneficiaries who have availed the 1st tranche and maintained a standard loan account and have adopted digital transactions in their business or have undergone Advanced Training.

The new scheme will enable traditional artisans, and craftsmen, who work with their hands using tools to improve the quality, scale & reach of their products integrating them with the MSME value chain. The scheme outlay is Rs 13000 crores which aims to benefit around 30 lakh families of artisans and craftsman. The components of the scheme will not only include financial support but also, access to advance skill training, knowledge of modern digital techniques and efficient green technologies, brand promotion, linkage with local and global markets, digital payments, and social security.

PM Vishwakarma : A New Scheme to transform Unorganized MSME's Sector. On September 17, 2023, Prime Minister Narendra Modi launched the PM Vishwakarma scheme in New Delhi on the occasion of Vishwakarma Jayanti, for giving government support to workers engaged in traditional crafts and skills.

Who are the eligible beneficiaries under this scheme: The Scheme covers artisans and craftsmen engaged in following 18 trades, viz.

(i)            Carpenter (Suthar/Badhai)

(ii)           Boat Maker

(iii)          Armourer

(iv)         Blacksmith (Lohar)

(v)          Hammer and Tool Kit Maker

(vi)         Locksmith

(vii)        Goldsmith(Sonar)

(viii)       Potter (Kumhaar)

(ix)         Sculptor (Moortikar, stone carver), Stone breaker

(x)          Cobbler (Charmkar)/ Shoesmith/Footwear artisan

(xi)         Mason (Rajmistri)

(xii)        Basket/Mat/Broom Maker/CoirWeaver

(xiii)       Doll & Toy Maker (Traditional)

(xiv)       Barber (Naai)

(xv)        Garland maker (Malakaar)

(xvi)       Washerman (Dhobi)

(xvii)      Tailor (Darzi)

(xviii)     Fishing Net Maker.

How unorganized sector workers/artisans will be benefited from the scheme?

The Scheme envisages provisioning of the following benefits to the artisans and craftsmen:

(i) Recognition: Recognition of artisans and craftspeople through PM Vishwakarma certificate and ID card.

(ii) Skill Upgradation: Basic Training of 5-7 days, and an Advanced Training of 15 days or more, will be provided with a stipend of Rs. 500/- per day;

(iii) Toolkit Incentive: A toolkit incentive of up to Rs. 15,000/- in the form of e-vouchers will be credited at the beginning of Basic Skill Training.

(iv) Credit Support: Collateral free ‘Enterprise Development Loans’ of upto Rs. 3 lakh in two tranches of Rs. 1 lakh, and Rs. 2 lakh with tenures of 18 months and 30 months, respectively, at a concessional rate of interest fixed at 5%, with Government of India subvention to the extent of 8%.

Beneficiaries who have completed Basic Training will be eligible to avail the first tranche of credit support of upto Rs. 1 lakh. The second loan tranche will be available to beneficiaries who have availed the 1st tranche and maintained a standard loan account and have adopted digital transactions in their business or have undergone Advanced Training.

The new scheme will enable traditional artisans, and craftsmen, who work with their hands using tools to improve the quality, scale & reach of their products integrating them with the MSME value chain. The scheme outlay is Rs 13000 crores which aims to benefit around 30 lakh families of artisans and craftsman. The components of the scheme will not only include financial support but also, access to advance skill training, knowledge of modern digital techniques and efficient green technologies, brand promotion, linkage with local and global markets, digital payments, and social security.