Vishwakarma Yojana: A boost for traditional professions
Financial Express Mumbai|August 23, 2023
The PM Vishwakarma Yojana announced recently is designed to make the Indian crafts/traditionalprofessions sector a multi-billion-dollar marketplace, with loan support for the those skilled in such crafts. Prasanta Sahu explains the contours of the new Central Sector Scheme and how the artisans stand to benefit
Prasanta Sahu
Vishwakarma Yojana: A boost for traditional professions

Targeting the marginalised groups

PRIME MINISTER NARENDRA Modi recently announced the launch of the 'Vishwakarma Yojana'-a ₹13,000-crore central sector scheme spread over five years (FY24 to FY28), which aims to benefit individuals skilled in traditional craftsmanship, particularly those belonging to the OBC community.

Various schemes have aided 135 million poor people in the last five years, as per recent data. Among these, the prominent ones are providing ₹50,000 crore to street vendors through the PM SVANidhi scheme, and directly depositing ₹2.5 trillion into the accounts of farmers through the PM Kisan Samman Nidhi. The Vishwakarma Yojana is expected to give a further boost to poverty alleviation.

What is the objective of the scheme?

THE SCHEME AIMS to nurture the GuruShishya parampara or family-based practice of traditional skills by artisans and craftspeople.

The scheme also aims at improving the quality as well as the reach of products and services of artisans/craftspeople and to ensure that the vishwakarmas are integrated with domestic and global value chains.

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