Page 50 - Banking Finance October 2023

FEATURES

PM Vishwakarma Scheme

O n September 17, Prime Minister Narendra Modi Families associated with 18 such different sectors will be

launched the PM Vishwakarma scheme in New
helped in all possible ways, the PM said. These include:
Delhi on the occasion of Vishwakarma Jayanti, for
(i)
Carpenters
giving government support to workers engaged
in traditional crafts and skills. (ii) Boat Makers
(iii) Armourers
First announced during his Independence Day speech around (iv) Blacksmiths
a month ago, the scheme is also being seen as a means for
the government to reach out to the economically (v) Hammer and Tool Kit Makers
marginalised and socially backward communities - (vi) Locksmiths
particularly the Other Backward Classes (OBC) groups - (vii) Goldsmiths
before the 2024 Lok Sabha polls. Here's who the scheme (viii) Potters
targets and what its provisions say.
(ix) Sculptor, Stone breakers
What is the Vishwakarma scheme? (x) Cobblers (Shoesmiths/ Footwear artisans)
It is a new scheme with an outlay of Rs 13,000 crore and is (xi) Masons (Rajmistri)
fully funded by the Central government. "On this (xii) Basket/Mat/Broom Makers/Coir Weavers
Vishwakarma Jayanti, we will give about Rs 13,000-15,000
(xiii) Doll & Toy Makers (Traditional)
crore to the people who live with traditional skills, who work
with tools and with their own hands, mostly from the OBC (xiv) Barbers
community. Be it our carpenters, our goldsmiths, our (xv) Garland makers
masons, our laundry workers, our barber brothers, and (xvi) Washermen
sisters " Modi had said on August 15.
(xvii) Tailors
Vishwakarma, in Hindu mythology, is seen as the architect (xviii) Fishing Net Makes.
of the gods and was the divine carpenter and master
craftsman who fashioned the weapons of the gods and built What benefits can be availed of through
their cities and chariots. Some legends say he was the the Vishwakarma Scheme?
architect of the mythical city Lanka mentioned in the Hindu
The scheme is to help enhance the skills of workers
epic Ramayana and is also said to have made the great
image of Jagannatha at Puri in Odisha. He is considered the employed in these fields and help them avail loans easily to
patron deity of workers, artisans, and artists. aid their earnings.
Under the scheme, the Vishwakarma workers will be
Who is eligible for the Vishwakarma registered for free through Common Services Centres using
scheme? the biometric-based PM Vishwakarma portal.
A video from the government that was played at the launch They will then be provided recognition through the PM
event talked about how the professionals engaged in Vishwakarma certificate and ID card, given skill upgradation
traditional crafts and skills for centuries, often taught by elders involving basic and advanced training, a toolkit incentive of
in the family, have faced certain problems. These include a Rs. 15,000, collateral-free credit support up to Rs. 1 lakh (first
lack of professional training for their work, of modern tools, tranche) and Rs. 2 lakh (second tranche) at a concessional
the issue of distance from the markets relevant to them and interest rate of 5%, incentive for digital transactions and
the availability of little capital for investment. marketing support. (Source: The Indian Express)

50 | 2023 | OCTOBER | BANKING FINANCE