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What is the ‘PM Vishwakarma Yojana 2023’ recently launched by the central government?
The ‘PM Vishwakarma’ scheme is a new initiative introduced by the central government to support traditional artisans and craftsmen. It offers low-interest loans without the need for collateral, aiming to enhance the quality of their products and services and increase their acceptance.
Who is eligible to benefit from the ‘PM Vishwakarma’ scheme?
Dependents of artisans engaged in the unorganized sector on a self-employment basis can apply for this scheme. However, eligibility is limited to those involved in any of the 18 family-based traditional handicrafts or handicrafts mentioned in the scheme. Additionally, beneficiaries must be at least 18 years old at the time of registration.
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How much financial assistance does the ‘PM Vishwakarma Yojana 2023’ provide?
Under this scheme, beneficiaries receive a loan of Rs. 1 lakh in the first installment, which must be repaid within 18 months. In the second installment, they are provided Rs. 2 lakhs, with a repayment period of 30 months. The interest rate charged from beneficiaries is only 5%, while the government covers the remaining 8% interest through the Department of Micro, Small, and Medium Enterprises.
Are there any additional benefits for those participating in the ‘PM Vishwakarma’ scheme?
Yes, there are several additional benefits. Beneficiaries undergo basic training lasting 5-7 days (40 hours) and receive a certificate and identity card to confirm their skills. Those interested can also enroll in 15 days (120 hours) of advanced training, with a stipend of Rs. 500 per day. Additionally, a toolkit incentive of Rs. 15,000 is provided, along with a monthly incentive of Rs. 1 for digital transactions, up to 100 transactions.
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How does the government support marketing and promotion for the products created by the beneficiaries of this scheme?
The National Marketing Committee plays a vital role in providing various services to beneficiaries. These services include quality assurance, branding, promotion, e-commerce integration, trade fair advertising, and other marketing activities to help promote the products created by the beneficiaries.
What is the overall financial allocation for the ‘PM Vishwakarma’ scheme, and how many families are expected to benefit from it?
The ‘PM Vishwakarma’ scheme has a financial outlay of Rs. 13,000 crore and aims to benefit approximately 30 lakh families of traditional artisans, including weavers, goldsmiths, blacksmiths, laundry workers, and barbers, over a period of five years.
Disclaimer:
The content provided in this web post is for informational purposes only and should not be construed as financial advice. Readers are encouraged to consult with financial professionals before making any significant financial decisions.
