Parul
The Centre’s PM Vishwakarma Yojana, aimed at empowering India’s traditional artisans and craftspeople, has achieved substantial progress, with 2.58 crore applications submitted to date. As of now, 23.75 lakh artisans, including carpenters, masons, and tailors, have successfully registered for the scheme’s benefits following a rigorous three-stage verification, according to the National Skill Development Corporation (NSDC).
Under the scheme, close to 10 lakh artisans have received toolkit incentives of up to ₹15,000 via e-vouchers, enabling them to purchase modern tools suited to their trades. Additionally, as of July 29, 2024, 56,526 applicants have received loan approvals amounting to ₹551.80 crore. These loans, offered at a subsidised 5 per cent interest rate with an 8 per cent government interest subvention, provide artisans with affordable credit, repayable within 18 months for the first tranche and 30 months for the second.
Launched on September 17 last year, the PM Vishwakarma Yojana supports artisans across 18 traditional trades with the goal of fostering self-reliance and entrepreneurship. The scheme offers formal skill training, recognised through the PM Vishwakarma Certificate and ID Card, across 26 states and Union Territories to modernise and enhance artisans’ skills.
Components of the scheme include skill upgrades, toolkit incentives, credit support, digital transaction incentives, and marketing assistance to provide artisans with a pathway toward economic empowerment. By linking them to both domestic and international markets, the initiative aims to create sustainable livelihoods and integrate modern technology, enabling India’s artisans to thrive in a competitive market.
