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Vishwakarma Scheme: Empowering Prime Minister's Vision



  Aug 22, 2023

PM Vishwakarma Scheme:


1. What is the PM Vishwakarma Scheme?

The PM Vishwakarma Scheme is a government initiative aimed at providing economic support to traditional craftspeople and artisans in India. It offers concessional loans to artisans from various trades to help them access affordable credit.
 

2. What is the objective of the scheme?

The scheme aims to provide financial assistance to artisans by offering loans at a low interest rate, enabling them to overcome challenges in accessing formal credit. It also intends to enhance the economic viability of traditional crafts and promote the welfare of artisan communities.
 

3. Who are the beneficiaries of the scheme?

The scheme covers individuals from 18 trades, including cobblers, toy makers, laundrymen, barbers, masons, and coir weavers. It targets artisans who face difficulties in accessing credit from formal banking systems.
 

4. What are the benefits of the scheme?

Concessional Loans: Artisans can avail loans of up to ₹3 lakh (in two tranches) at a concessional interest rate of 5%, helping them overcome financial challenges.
 
Skilling Programs: The scheme includes skilling programs that offer a nominal stipend, helping artisans enhance their skills and employability.
 
Modern Tools: Artisans receive financial assistance to purchase modern tools, improving their efficiency and productivity.

5. What are the concerns associated with the scheme?

Limited Impact: While the scheme provides credit support, it might not fully address challenges related to lack of market demand and societal valuation of traditional crafts.
 
Debt Risk: Extending loans without addressing market issues could potentially burden beneficiaries with more debt.
 
Generational Trapping: The focus on intergenerational knowledge transfer might limit opportunities for the next generation, especially if the trades are low-paying and caste-bound.
 

6. How can the scheme be more effective?

Market Development: The scheme should incorporate strategies to create a demand for traditional crafts in the market, ensuring sustained livelihoods for artisans.
 
Holistic Approach: Beyond credit provision, the scheme must address structural issues, such as caste-based limitations and societal valuation of artisan work.
 
Entrepreneurial Guidance: Involving professionals with entrepreneurial expertise can help artisans upgrade their offerings, explore new markets, and adapt to changing trends.
 

7. How can the scheme promote long-term viability?

Comprehensive Approach: To ensure sustainable change, the scheme needs to address challenges beyond credit, focusing on improving market access, economic viability, and societal acceptance of traditional crafts.
 
Inclusive Strategy: The scheme should consider the needs and aspirations of the next generation, providing opportunities for upward mobility and diversification.
 

8. What role can communities play in the success of the scheme?

Communities can support the scheme by actively participating in skilling programs, adopting modern tools, and leveraging entrepreneurial guidance to improve their crafts' quality and market appeal.
 

9. How can the government ensure successful implementation?

The government should collaborate with experts in the fields of entrepreneurship, marketing, and craft promotion to design and implement effective strategies that align with the scheme's objectives.
 

10. What are the long-term outcomes expected from the scheme?

The scheme's success would be measured by the economic empowerment of artisans, increased market demand for traditional crafts, and reduced dependency on credit. Additionally, breaking the cycle of generational trapping and promoting societal recognition of artisan work would contribute to its positive impact.
 
Suggestions for the PM Vishwakarma Scheme:
 
Market Research: Conduct comprehensive market research to identify demands and trends in traditional crafts, ensuring artisans produce goods that are relevant and appealing to consumers.
 
Skill Enhancement: Enhance skilling programs to include both traditional and contemporary skills, equipping artisans with the tools needed to adapt to changing market dynamics.
 
Market Linkages: Create platforms that connect artisans directly with consumers, reducing intermediaries and ensuring artisans receive fair value for their work.
 
Public Awareness: Launch campaigns to increase public awareness about the significance of traditional crafts, promoting their cultural value and supporting artisans.
 
Financial Literacy: Provide artisans with financial literacy training to ensure responsible borrowing and effective management of credit.
 
Holistic Approach: Collaborate with social scientists to address systemic issues like caste-based limitations and social valuation, promoting inclusivity and upward mobility.
 
Entrepreneurial Support: Partner with successful entrepreneurs and mentors to guide artisans in improving product quality, design, and market appeal.
 
Monitoring and Evaluation: Implement a robust monitoring and evaluation mechanism to track the scheme's impact, identify challenges, and make timely adjustments.
 
In conclusion, the PM Vishwakarma Scheme has the potential to benefit traditional artisans, but a comprehensive approach that addresses market challenges, societal norms, and economic viability is essential for its success.


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