PM Vishwakarma Yojana: Introduction of scheme, eligibility criteria, beneficiaries, stipend

Vishwakarma Yojana: Two days after Prime Minister Narendra Modi announced PM Vishwakarma Yojana from the ramparts of the Red Fort on August 15, 2023, the cabinet approved the scheme on Wednesday (August 17).

The scheme is aimed at strengthening the family-based practice of traditional skills by artisans and craftspeople. The government has announced a five-year budget of Rs 13,000 crore for the scheme.

In this write-up, ZeeBiz will tell you about the scheme's eligibility, criteria, beneficiaries, and the stipend one will get under the scheme.

What is Vishwakarma Yojana?

Vishwakarma Yojana is a scheme for strengthening and nurturing the Guru-Shishya parampara or family-based practice of traditional skills by artisans and craftspeople working with their hands and tools.

PM Modi announced the scheme during his Independence Day address from the Red Fort on August 15, 2023, and the cabinet committee on economic affairs approved the scheme on August 17.

The scheme has a budget of Rs 13,000 crore for five years (From FY 2023-24 to FY 2027-28). 

What is the purpose of Vishwakarma Yojana?

One of the main purposes of the scheme is to improve the quality and reach of the products and services of artisans and craftspeople as well as ensure that they are integrated with the domestic and global value chains.

What will Vishwakarma Yojana beneficiaries get?

Under PM Vishwakarma Yojana, artisans and craftspeople will be given a PM Vishwakarma certificate and an ID card each.

As far as the monetary benefits are concerned, Vishwakarmas will get credit support up to Rs. 1 lakh (First Tranche) and Rs. 2 lakh (Second Tranche) with a concessional interest rate of 5%.

What are the added benefits of Vishwakarma Yojana? 

The beneficiaries of the scheme will also be provided with skill upgradation, incentives for digital transactions, marketing support, and toolkit incentives.

What is the targeted audience for Vishwakarma Yojana?

The scheme is not centred around a specific region, as it will provide support to artisans and craftspeople in India's rural and urban areas.

Which are the trades covered under Vishwakarma Yojana?

There are a total of 18 trades that will be covered under the PM Vishwakarma scheme. These trades are- 

1. Carpenter (Suthar)
2. Boat Maker
3. Armourer
4. Blacksmith (Lohar)
5. Hammer and Tool Kit Maker
6. Locksmith
7. Goldsmith (Sonar)
8. Potter (Kumhaar)
9. Sculptor (Moortikar, stone carver)
10. Stone breaker
11. Cobbler (Charmkar)/Shoesmith/Footwear artisan
12. Mason (Rajmistri); (xii) Basket/Mat/Broom Maker/Coir Weaver
13. Doll and Toy Maker (Traditional)
14. Barber (Naai)
15. Garland maker (Malakaar)
16. Washerman (Dhobi)
17. Tailor (Darzi)
18. Fishing Net Maker