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Pradhan Mantri Vishwakarma Yojana: The Future of India's Traditional Crafts

Created on 19 Aug 2023

Wraps up in 3 Min

Read by 517 people

Updated on 21 Aug 2023

We, the people of India, are so rich in our culture that we celebrate a festival almost every month. One of these festivals is "Vishwakarma Jayanti", which is celebrated on the last day of Indian Bhado month, or Bhadrapada. Lord Vishwakarma is a Hindu god who is also the divine architect that constructed the holy city of Dwarka.

Wait, you must be wondering why we are discussing Hindu mythology in today's article. It's because the Indian government recently came up with a new Central Sector scheme, 'PM Vishwakarma', to extend their support to traditional artisans and craftspersons of the nation.

The Handicraft sector plays a crucial role in the development process of the Indian Economy. India's total number of artisans accounts for 68.86 lakhs. To get a split of the number of male and female artisans, look at the pie chart below.

According to a report by the All India Handloom Census, 66% of handloom weavers, on average, earn less than ₹5000 per month

Well, the Indian Government has several objectives to come up with this scheme. Let's delve into the article to learn the motive behind such an initiative.

What is PM Vishwakarma Scheme?

The "PM Vishwakarma" is a new scheme approved by the Cabinet Committee on Economic Affairs on 16th August 2023. The scheme aims to help traditional artisans and craftspersons to get a global reach for their products and services.

PM Vishwakarma has a five-year financial outlay of ₹13,000 crore (FY 2023-24 to FY 2027-28). The scheme aims to ensure better life quality for people in the handicraft sector.

Source: Twitter

Objectives of the Scheme

The Indian government has come up with such an initiative to cater to the following objectives:

  • To preserve and promote the family-based practice of traditional skills by the artisans and craftspeople.
  • To recognize the valuable efforts of the people in the handicrafts sector through certificates and ID cards.
  • To improve the quality and reach of the products and services offered by artisans and craftspeople.
  • To provide a global market for the rich handicraft products of India.
  • To provide financial assistance to the artisans and workers at concessional rates.

Features of the scheme:

With such a huge financial outlay of ₹13,000 crore, PM Vishwakarma has the following features one must know:

1. Credit Support: The scheme will provide credit support of ₹1 lakh (First Tranche) and ₹2 lakhs (Second Tranche) with a concessional interest rate of 5%.

2. Recognition: The artisans and craftspeople under this scheme will receive credit with PM Vishwakarma certificates and ID cards.

3. Financial disbursal: A financial disbursement of ₹13,000 crore has been approved by the Union Cabinet Committee.

4. Additional Support: The various artisans and craftspeople will be provided with various handholding support such as Skill Upgradation, Toolkit Incentives, Incentives for Digital Transactions, and other marketing support.

5. Period: The scheme will be operational for five years, from FY 2023-24 till FY 2026-27. The dates may be extended further, but an official statement is yet to be available.

Implementation of the Scheme

The scheme was announced on 15th August 2023, but the Yojana still needs to be implemented. It is officially confirmed that the PM Vishwakarma Yojana will be implemented on 17th September 2023 to mark the auspicious festival of Vishwakarma Jayanti.

Registration under the scheme:

As this scheme has launched recently but is yet to be implemented, no official website is available. The registrations under PM Vishwakarma will be started after the implementation of this scheme, i.e., on 17th September 2023.

Applicants can check their eligibility, the status of the application, and more details once the website is launched after the scheme's implementation.

The Bottom Line

The scheme's goal is to provide financial aid, recognition, and credit support to these skilled individuals, with a budget of ₹13,000 crores allocated over five years. 

To summarise, the objectives of the scheme include:

  • Preserving and promoting traditional skills.
  • Enhancing product quality and accessibility.
  • Accessing a global market for handicraft products.
  • Providing financial assistance to artisans and workers at concessional rates.

This scheme is a great way to help out the artisans and make Indian handicraft products available at a global level. This will also ensure proper recognition of the hard efforts of the artisans and craft persons and improve their quality of life.

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Nishita Singh

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If Nishi’s personality were an idiom, it would be “a breath of fresh air”. A refreshing and pleasant person, she brings positive energy around her. She often advises people on life and its complexities. She loves motivating people towards their goals & never runs out of ideas.

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