The Government of India approved a new central scheme ‘PM Vishwakarma’.
The scheme is for five years period (FY 2023-24 to FY 2027-28) with a financial outlay of Rs 13,000 crore.
It aims to strengthen and nurture family-based practice of traditional skills by artisans and craftspeople working with their hands and tools.
It will provide credit support upto Rs 1 lakh in first tranche and Rs 2 lakh (second tranche) with an interest of 5%.
The Scheme will further provide Skill Upgradation, Toolkit Incentive, Incentive for Digital Transactions and Marketing Support.
The scheme will provide support to artisans and craftspeople of rural and urban areas across India.
Eighteen traditional trades will be covered in the first instance under PM Vishwakarma.