Celebrating Vishwakarma Jayanti this year, we also mark the first anniversary of the PM Vishwakarma Scheme. Launched on September 17, 2023, this ambitious initiative aims to uplift India’s artisans and craftspeople across 18 traditional trades. With a hefty corpus of ₹13,000 crore, the scheme promises significant benefits, including collateral-free loans, skill development, and marketing support.
Key Achievements of the PM Vishwakarma Scheme
Scheme Overview:
- Funding: ₹13,000 crore over five years.
- Loan Amount: Up to ₹3 lakh collateral-free.
- Beneficiaries: Artisans and craftspeople in 18 different trades.
As we review the scheme’s impact, here’s a snapshot of its performance as of July 29, 2024:
- Loans Sanctioned: 56,526 applications approved, amounting to ₹551.80 crore.
- Disbursed Loans: 15,878 applications received ₹132.49 crore.
- Registered Applicants: 14.38 lakh.
- Marketing Support: 9,05,328 beneficiaries.
How the PM Vishwakarma Scheme Benefits Artisans
Collateral-Free Loans:
- Loan Details: ₹1 lakh for the first tranche (18 months repayment), ₹2 lakh for the second tranche (30 months repayment).
- Interest Rate: Concessional 5% with an 8% interest subvention cap covered by the MSME Ministry.
- Credit Guarantee: Loans are covered under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).
Skill Upgradation and Training:
- Training Options: Basic training of 40 hours and advanced training of 120 hours.
- Stipend: ₹500 per day during training.
- Toolkit Incentive: Up to ₹15,000 grant for purchasing tools.
Marketing Support:
- Digital Transactions: ₹1 incentive for each digital transaction, up to 100 transactions per month.
- National Marketing Committee: Provides quality certification, branding, e-commerce linkage, trade fair advertising, and more.
Recognition:
- Certificate and ID Card: Official recognition as a Vishwakarma artisan.
Impact on Traditional Trades
The scheme covers 18 traditional trades, including:
- Fishing Net Maker
- Tailor (Darzi)
- Washerman (Dhobi)
- Garland Maker (Malakaar)
- Barber (Nai)
- Doll and Toy Maker
- Basket/Mat/Broom Maker
- Mason (Rajmistri)
- Cobbler (Charmkar)
- Sculptor (Moortikar)
- Stone Breaker
- Potter (Kumhaar)
- Goldsmith (Sonar)
- Locksmith
- Hammer and Tool Kit Maker
- Blacksmith (Lohar)
- Armourer
- Boat Maker
- Carpenter (Suthar)
Highlights and Success Stories
Real-Life Impact:
- Case Study: An artisan from a rural area received a ₹1 lakh loan, which helped expand his weaving business, significantly increasing his income.
- Training Success: A tailor who participated in advanced training improved his skills, leading to a new client base and higher profits.
Looking Ahead: Future Prospects
Upcoming Initiatives:
- Enhanced Training Programs: Expansion of training modules to cover more trades and advanced techniques.
- Increased Outreach: Efforts to reach more remote areas and ensure every eligible artisan benefits from the scheme.
Government Commitment:
- Support Continuity: Continued focus on providing financial aid and resources to artisans.
- Policy Adjustments: Possible tweaks in the scheme based on feedback to better meet the needs of the artisans.
Conclusion
The PM Vishwakarma Scheme has made substantial strides in supporting India’s artisans and craftspeople. With its wide range of benefits, including collateral-free loans, skill upgradation, and marketing support, it is setting a new standard for artisan support in India. As we celebrate the scheme’s first anniversary, the positive impact on thousands of artisans highlights its success and potential for future growth.
