What is PM Vishwakarma Scheme?
Historical Background
Key Points
10 points- 1.
Provides skill training and certification to artisans and craftspeople.
- 2.
Offers financial assistance in the form of loans at concessional interest rates.
- 3.
Supports the purchase of modern tools and equipment to improve productivity.
- 4.
Provides market linkage support to help artisans sell their products.
- 5.
Focuses on digital empowerment through training in digital transactions and marketing.
- 6.
Aims to integrate Vishwakarmas into the formal economy.
- 7.
Provides recognition and identity to artisans through a unique ID card.
- 8.
Offers collateral-free loans up to ₹3 lakh.
- 9.
Targets 18 traditional trades initially, including carpenters, blacksmiths, and potters.
- 10.
The scheme is fully funded by the Government of India.
Visual Insights
Evolution of PM Vishwakarma Scheme
Timeline showing the key events and developments leading to the PM Vishwakarma Scheme.
The PM Vishwakarma Scheme builds upon previous government initiatives aimed at supporting MSMEs and promoting skill development. It represents a focused effort to empower traditional artisans and craftspeople.
- 2006MSMED Act enacted to facilitate the promotion and development of micro, small and medium enterprises.
- 2014Launch of Pradhan Mantri Jan Dhan Yojana (PMJDY) to promote financial inclusion.
- 2015Launch of Pradhan Mantri Mudra Yojana (PMMY) to provide loans to non-corporate, non-farm small/micro enterprises.
- 2023Union Cabinet approves PM Vishwakarma Scheme with an outlay of ₹13,000 crore.
- 2024Initial implementation and registration of Vishwakarmas begin.
- 2025Expansion of the scheme to more districts and trades.
- 2026Celebration of PM Vishwakarma Scheme at Dilli Haat; 30 lakh registrations, 23 lakh skilled, ₹4,600 crore loans approved.
PM Vishwakarma Scheme: Key Components and Linkages
Mind map illustrating the key components of the PM Vishwakarma Scheme and its linkages to other relevant areas.
PM Vishwakarma Scheme
- ●Skill Development & Training
- ●Financial Assistance
- ●Market Linkage & Support
- ●Formalization & Recognition
Recent Developments
6 developmentsThe scheme has registered 30 lakh Vishwakarmas.
23 lakh Vishwakarmas have been skilled under the scheme.
Loans worth over ₹4,600 crore have been approved.
Over 5.3 lakh Vishwakarmas have received loan approvals.
12 lakh toolkits have been delivered.
Training for packaging, branding, and market linkage is being provided.
Frequently Asked Questions
61. What is the PM Vishwakarma Scheme, and what are its primary objectives?
The PM Vishwakarma Scheme aims to improve the skills of traditional artisans and craftspeople. Its primary objectives include providing skill training, financial assistance, and market support to help them grow their businesses and preserve traditional skills.
Exam Tip
Remember the key objectives: Skill development, financial assistance, and market linkage. These are crucial for both Prelims and Mains.
2. What are the key provisions of the PM Vishwakarma Scheme?
The key provisions of the PM Vishwakarma Scheme include:
- •Skill training and certification to artisans and craftspeople.
- •Financial assistance in the form of loans at concessional interest rates.
- •Support for the purchase of modern tools and equipment.
- •Market linkage support to help artisans sell their products.
- •Digital empowerment through training in digital transactions and marketing.
Exam Tip
Focus on the financial assistance and skill development aspects for exam questions.
3. How does the PM Vishwakarma Scheme work in practice to support artisans?
The PM Vishwakarma Scheme works by first providing skill training and certification to artisans. Following this, it offers financial assistance through loans at concessional interest rates, enabling them to purchase modern tools and equipment. The scheme also supports market linkage, helping artisans sell their products and provides digital empowerment through training in digital transactions and marketing, making their businesses more sustainable and competitive.
Exam Tip
Understand the step-by-step process of how artisans benefit from the scheme.
4. What is the significance of the PM Vishwakarma Scheme in the Indian economy?
The PM Vishwakarma Scheme is significant as it empowers traditional artisans and craftspeople, who contribute significantly to the Indian economy. By providing skill development, financial assistance, and market access, the scheme helps preserve traditional skills, promotes entrepreneurship, and boosts the income of artisans, thereby contributing to inclusive economic growth. It also recognizes and supports the 'Vishwakarmas' skilled workers and artisans.
Exam Tip
Relate the scheme to broader economic goals like inclusive growth and skill development.
5. What are the challenges in the implementation of the PM Vishwakarma Scheme?
Challenges in implementing the PM Vishwakarma Scheme may include:
- •Identifying and reaching all eligible artisans and craftspeople, especially in remote areas.
- •Ensuring effective skill training that meets the needs of the artisans.
- •Providing timely and adequate financial assistance.
- •Creating effective market linkages for artisans to sell their products.
- •Monitoring and evaluating the impact of the scheme.
Exam Tip
Consider practical challenges like reaching beneficiaries and ensuring effective training.
6. What reforms have been suggested to improve the effectiveness of the PM Vishwakarma Scheme?
Suggested reforms for improving the PM Vishwakarma Scheme could include:
- •Enhancing the quality and relevance of skill training programs.
- •Simplifying the loan application process and reducing interest rates further.
- •Strengthening market linkages through e-commerce platforms and collaborations with retailers.
- •Providing mentorship and guidance to artisans to help them grow their businesses.
- •Improving monitoring and evaluation mechanisms to track the scheme's progress and impact.
Exam Tip
Think about practical improvements in training, finance, and market access.