Union Cabinet Approves PM Vishwakarma Scheme - Here Are 5 Things To Know

The 'PM Vishwakarma' scheme was endorsed by the Union Cabinet on Wednesday in which approximately 30 lakh families of traditional artisans and craftsmen, including weavers, goldsmiths, blacksmiths and laundry workers and barbers are to be provided with a financial outlay of Rs 13,000 crore for a period of five years.

Prime Minister Narendra Modi chaired a meeting of the Cabinet Committee on Economic Affairs when this decision was taken. 

During his Independence Day speech on Tuesday, the prime minister announced that the scheme will be launched on Vishwakarma Jayanti on September 17.

Union Minister Ashwini Vaighnaw on Wednesday spoke elaborately about the scheme and how it will be helping the people of the country and enrich the traditional occupations practised here.

Here are 5 points to understand the PM Vishwakarma Scheme:

1. Whom does it help? - According to Ashwini Vaishnaw, the scheme will cover 18 traditional trades initially and they are - carpenter (Suthar); boat maker; armourer; blacksmith; hammer and tool kit maker; locksmith; goldsmith; potter (Kumhaar); sculptor, stone breaker; cobbler; mason; basket/mat/broom maker/coir weaver; doll and toy maker (traditional); barber; garland maker; washerman; tailor ; and fishing net maker. Vaishnaw then continued to say that five lakh families will be covered in the first year and over the over years the government aims to cover 30 lakh families with it.

2. How does it help? -   Skills training, tool kit rebates, incentives for digital transactions and promotion will also be offered to artisans and craftsmen. Vaishnaw also said that they will be provided recognition through PM Vishwakarma certificate and ID card.

3. Programmes and stipend -  Ashwini Vaishnaw explained that there will be two programmes under this scheme - Basic and Advanced Skilling Programmes. Further, he mentioned that the people who will be taking part in these skill-based programmes will be given a daily stipend of Rs 500. 

4. Loan - The beneficiaries of the said programmes will also get the support of up to Rs 15,000 to buy modern tools. They will be provided credit support of up to Rs 1 lakh (first tranche) and Rs 2 lakh (second tranche) with a concessional interest rate of 5 per cent.

5. Value of this scheme - The statement provided by the government said, "The scheme aims to strengthen and nurture the 'Guru-Shishya parampara' or family-based practice of traditional skills by artisans and craftsmen working with their hands and tools." The scheme also aims at improving the quality and reaching of products and services offered by artisans and craftsmen as well as ensuring that Vishwakarma is integrated into national and global value chains.