Important Facts For Prelims
PM Vishwakarma Yojana
- 08 Nov 2024
- 3 min read
Why in News?
Since the launch of the PM Vishwakarma Yojana in 2023, it has made significant strides in supporting traditional craftspeople and artisans across the country. - a substantial number of applications, with a large portion successfully completing the multi-step registration process.
- Additionally, many registered beneficiaries have availed toolkit incentives to purchase modern tools suitable for their occupation.
What is the PM Vishwakarma Yojana?
- Objective: Uplift traditional artisans and craftspeople by enhancing the quality and market accessibility of their products and integrate them in both domestic and global value chains.
- Features:
- Budgetary allocation for scheme – Rs 13,000 crore for 5 financial years (2023-24 to 2027-28).
- Provides recognition to beneficiaries through a PM Vishwakarma Certificate and an ID Card.
- Stipend of Rs 500 for skill training per day and Rs 15,000 grant for the purchase of modern tools.
- Category: Central Sector Scheme
- Nodal Ministry: Ministry of Micro, Small and Medium Enterprises (MoMSME)
- Lending Institutions:
- Scheduled Commercial Banks
- Regional Rural Banks
- Small Finance Banks
- Cooperative Banks
- NBFCs and Micro Finance Institutions
- Lending Mechanism:
- Beneficiaries are eligible for collateral-free credit support of up to Rs 1 lakh (first tranche) and Rs 2 lakh (second tranche) at a low interest rate.
- Eligibility Beneficiaries:
- Industrial Units: Targeted specifically for the MSME sector.
- Training Program Eligibility: Open to individuals from school dropouts to those holding an M.Tech degree.
Other Government Initiatives for Artisans
- Ambedkar Hastshilp Vikas Yojana
- Mega Cluster Scheme
- National Handicraft Development Programme
- Comprehensive Handicrafts Cluster Development Scheme
- Export Promotion Council for Handicrafts
- One District One Product
- Atmanirbhar Hastshilpkar Scheme
UPSC Civil Services Examination, Previous Year Question:(PYQ)
Prelims:
Q1. Consider the following statements with reference to India : (2023)
- According to the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006, the ‘medium enterprises’ are those with investments in plant and machinery between `15 crore and `25 crore.
- All bank loans to the Micro, Small and Medium Enterprises qualify under the priority sector.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Ans: (b)
