Page 42 - Banking Finance December 2023

ARTICLE

Enhanced skill development- Offering advanced
training to elevate their expertise.
Modern technological knowledge - Equipping artisans
with contemporary digital techniques and eco-friendly
technologies.
Promotion of artisan brands- Boosting the visibility
and recognition of artisans' brands
Market integration - connecting artisans with both local
and global markets
Digital payment facilitation - Promoting the adoption
of digital payment methods.

Social security measures - Ensure social security for
artisans.

The PM Vishwakarma scheme with its substantial Implementation Mechanism
budget and noble objective has the potential to transform The successful implementation of the Vishwakarma Yojana
the prospects of India's artisans. However, this triumph will relies on establishing robust mechanisms for coordination,
be determined by its capacity not only to provide monitoring and grievance redressal at both the central and
resources but to genuinely elevate the beneficiaries, state levels. At the central level a nodal agency will be
ensuring they are prepared for the future and self-reliant. responsible for the overall coordination and policy
Achieving this shift demands meticulous planning, profound framework. Collaboration between different central
insight, and an unwavering commitment to well being of ministries and their field agencies will ensure relevant
individuals. components are addressed.

Objectives of PM Vishwakarma yojana The state level implementation will involve infrastructure
and training institutes, livelihood missions and local NGOs
1. Promote and preserve traditional skills - The
to facilitate outreach and promotion.
Vishwakarma yojana/scheme has several key objectives
that address various aspects of artisan empowerment. Monitoring frameworks will track fund disbursements,
Firstly, it seeks to create a favourable environment for targets, beneficiary coverage and skill development metrics.
artisans to practice their ancestral occupations and Further Audits and evaluation will assess on-ground
preserve traditional skills and craft heritage. efficiency.
2. It aims to enhance the income levels, productivity,
quality and competitiveness of artisans by providing Grievance redressal mechanism through call centres, online
them with training, tools, credit support and exposure portals and helplines will ensure timely resolution and
accountability.
to new market.
3. Thirdly the scheme facilitates access to formal credit The participative implementation architecture involving all
for artisans through targeted financial assistance. It also the stakeholders from national to local levels aims to drive
focuses on upgrading their skills through training last mile connectivity and delivery of the scheme objectives.
programmes and connecting them to domestic and
international markets. Significance and Expected Impact

4. Lastly the scheme provides social security in terms of The comprehensive design and substantial layouts of the
insurance coverage for health, accidents and old age Vishwakarma Yojana hold great socio-economic significance
pensions. by preserving India's traditional crafts and artisans' skills,

38 | 2023 | DECEMBER | BANKING FINANCE