Daily Current Affairs : 11-December-2023
In just two and a half months since its launch in September 2023, the PM Vishwakarma Scheme has garnered significant attention, with over 21 lakh applications flooding in. This surge in interest underscores the scheme’s relevance and importance in today’s dynamic economic landscape.
Objective and Administration
The primary aim of the PM Vishwakarma Scheme is to provide crucial support and skill-upgradation training to artisans and craftspeople. Administered by the Ministry of Skill Development and Entrepreneurship, the scheme signifies a proactive step towards equipping traditional craftsmen with the skills needed to thrive in the evolving market.
Inclusive Trades and Crafts
Under the ambit of the scheme, approximately 18 trades and crafts have been identified. These include a diverse range, from carpenters and blacksmiths to doll and toy-makers. The inclusivity of the trades recognizes the rich tapestry of skills that contribute to India’s artisanal heritage.
Comprehensive Training Program
Applicants undergo a meticulous vetting process before embarking on their training journey. The program consists of a basic training phase spanning five to seven days, followed by an advanced training module lasting 15 days. This comprehensive approach ensures that artisans are well-prepared to navigate the demands of their craft in the contemporary economic scenario.
Financial Assistance and Market Linkage
The PM Vishwakarma Scheme goes beyond training by offering financial assistance and creating avenues for market linkage. During the training period, participants receive a stipend of ₹500 per day. Upon completion, they are entitled to a tool kit incentive of ₹15,000, enabling them to invest in modern tools specific to their trade. Additionally, artisans can access collateral-free loans at a lower interest rate of approximately 8%, with the potential to secure up to ₹1 lakh, along with an additional ₹2 lakh for setting up their business.
Important Points:
- PM Vishwakarma Scheme Overview
- Launched in September 2023
- Over 21 lakh applications in 2.5 months
- Aim: Support and provide skill-upgradation training to artisans and craftspeople
- Administration
- Administered by the Ministry of Skill Development and Entrepreneurship
- Inclusive Trades and Crafts
- Approximately 18 trades included
- Examples: carpenter, blacksmith, doll and toy-maker, etc.
- Comprehensive Training Program
- Applicants vetted thoroughly
- Basic training (5-7 days) and advanced training (15 days)
- Financial Assistance and Market Linkage
- Stipend of ₹500 per day during training
- Tool kit incentive of ₹15,000 post-training
- Collateral-free loans at a lower interest rate (8%)
- Up to ₹1 lakh loan and an additional ₹2 lakh for business setup
Why In News
Since its launch in September 2023, the PM Vishwakarma Scheme has garnered an overwhelming response, with over 21 lakh applications submitted within just two and a half months, underscoring its rapid popularity and impact.
MCQs about PM Vishwakarma Scheme’s Artisan Empowerment
-
What is the primary aim of the PM Vishwakarma Scheme?
A. Provide financial assistance to entrepreneurs
B. Preserve traditional crafts and empower artisans
C. Fund modern tools for skilled workers
D. Support large-scale industrial development
-
Which ministry administers the PM Vishwakarma Scheme?
A. Ministry of Finance
B. Ministry of Art and Culture
C. Ministry of Skill Development and Entrepreneurship
D. Ministry of Commerce and Industry
-
How many trades are included under the PM Vishwakarma Scheme?
A. Approximately 12
B. Around 18
C. Exactly 20
D. More than 25
-
What financial incentives are provided to participants during and after training under the scheme?
A. ₹1,000 stipend per day during training
B. ₹20,000 tool kit incentive after training
C. Collateral-free loans at 12% interest rate
D. ₹500 stipend per day during training and ₹15,000 tool kit incentive after training
Boost up your confidence by appearing our Weekly Current Affairs Multiple Choice Questions
