Daily Current Affairs : 16-August-2023

In a bid to empower traditional artisans and uplift the Micro, Small, and Medium Enterprises (MSME) sector, the Prime Minister of India has recently unveiled a visionary scheme – the Vishwakarma Yojana. This initiative holds the promise of not only reviving traditional industries but also fostering the holistic development of skilled youth. This essay explores the intricacies and implications of the scheme, shedding light on its objectives and components.

Reviving Heritage: Understanding the Scheme

The Vishwakarma Yojana is a comprehensive scheme aimed at providing much-needed support and empowerment to traditional industries that fall within the purview of the MSME sector. These industries have long been the bedrock of India’s cultural heritage and economy. This scheme, announced in the latest budget, is a strategic move to catalyze the growth and sustainability of these industries.

Key Components of the Scheme

The scheme is endowed with a substantial allocation of up to ₹15,000 crore, demonstrating the government’s commitment to fostering the growth of these traditional sectors. The primary components of the Vishwakarma Yojana encompass a wide array of aspects crucial for the holistic development of artisans and craftsmen:

  1. Financial Support: The scheme recognizes the need for financial support as a cornerstone for these industries. By providing financial aid, it aims to empower artisans to invest in their craft, enhance the quality of their products, and expand their operations.
  2. Skill Development: Emphasizing the importance of skill development, the scheme offers access to advanced training for the youth. This training equips them with modern techniques, enhancing their ability to create products of superior quality and meet the demands of contemporary markets.
  3. Integration of Digital Techniques: Recognizing the digital era, the scheme focuses on imparting knowledge of modern digital techniques and green technologies. This not only enhances the efficiency of production but also aligns these traditional sectors with global trends.
  4. Brand Promotion: Effective brand promotion is critical for carving a niche in today’s competitive market. The Vishwakarma Yojana aims to provide artisans with the tools and strategies required to promote their brands effectively, thus increasing their visibility and market reach.
  5. Market Linkages: In a globalized world, accessing local and global markets is imperative. The scheme seeks to establish linkages with both local and international markets, fostering economic growth and cultural exchange.
  6. Digital Payments: With the digital revolution sweeping the nation, integrating digital payment methods is crucial. The scheme ensures that artisans are well-versed in digital payment systems, facilitating smoother transactions and reducing barriers to market entry.
  7. Social Security: Acknowledging the need for social security, the scheme offers provisions to safeguard the interests of artisans. This not only ensures their financial well-being but also grants them a sense of stability and protection.
Empowerment for Progress: Implications of the Scheme

The Vishwakarma Yojana heralds a new era for traditional industries. By infusing them with modern techniques, financial support, and access to global markets, the scheme aspires to transform them into vibrant contributors to the nation’s economic growth. Simultaneously, the initiative also presents the youth with unique opportunities for skill development, encouraging them to pursue traditional crafts while embracing innovation.

Important Points:

  • Scheme Overview: Reviving Heritage
    • Comprehensive scheme for support and empowerment of MSMEs.
    • Enhancing traditional industries’ cultural significance and economic impact.
  • Key Components of the Scheme: Holistic Development
    1. Financial Support:
      • Aid to invest in craft, improve product quality, and expand.
    2. Skill Development:
      • Access to advanced training for youth.
      • Modern techniques to meet market demands.
    3. Integration of Digital Techniques:
      • Knowledge of digital and green technologies.
      • Aligning traditional sectors with global trends.
    4. Brand Promotion:
      • Tools and strategies for effective brand promotion.
      • Increased visibility and market reach.
    5. Market Linkages:
      • Establishing connections with local and global markets.
      • Enhancing economic growth and cultural exchange.
    6. Digital Payments:
      • Adoption of digital payment methods.
      • Smoother transactions, reduced market entry barriers.
    7. Social Security:
      • Provisions for artisans’ financial well-being.
      • Ensuring stability and protection.
  • Implications of the Scheme: Empowerment for Progress
    • Transforming traditional industries into economic contributors.
    • Infusing modern techniques and financial support.
    • Providing global market access and fostering innovation.
    • Offering youth opportunities for skill development.
Why In News

The Prime Minister of India, in a recent announcement, introduced a visionary scheme aimed at supporting artisans across the nation — the Vishwakarma Yojana. This initiative seeks to empower artisans with financial assistance and skill development opportunities, fostering the growth of traditional crafts and preserving India’s rich cultural heritage. As part of this scheme, various training programs will be launched to enhance the artisans’ technical skills and business acumen, propelling them towards a brighter and more sustainable future.

MCQs about The Vishwakarma Yojana’s Empowerment Drive

  1. What is the primary objective of the Vishwakarma Yojana?
    A. To promote digital payment methods.
    B. To empower traditional artisans and support the MSME sector.
    C. To establish international partnerships.
    D. To enhance the use of green technologies.
    Correct Answer: B. To empower traditional artisans and support the MSME sector.
    Explanation: The Vishwakarma Yojana aims to empower traditional artisans and provide support to the MSME sector, enabling them to enhance their skills, product quality, market reach, and overall contribution to the economy.
  2. Which of the following is NOT a component of the Vishwakarma Yojana?
    A. Financial support
    B. Skill development
    C. Agricultural subsidies
    D. Integration of digital techniques
    Correct Answer: C. Agricultural subsidies
    Explanation: The Vishwakarma Yojana’s components include financial support, skill development, integration of digital techniques, brand promotion, market linkages, digital payments, and social security. Agricultural subsidies are not mentioned in the context of this scheme.
  3. How does the scheme address the modern market’s demands?
    A. By focusing solely on traditional techniques.
    B. By providing financial support for artisans’ personal needs.
    C. By offering advanced training and modern techniques.
    D. By excluding digital technologies.
    Correct Answer: C. By offering advanced training and modern techniques.
    Explanation: The scheme addresses modern market demands by providing artisans with advanced training and modern techniques, enabling them to create products of superior quality and meet contemporary market expectations.
  4. What potential impact does the Vishwakarma Yojana have on traditional industries and artisans?
    A. It may lead to the extinction of traditional crafts.
    B. It could decrease the financial allocation for MSMEs.
    C. It might limit the growth of youth skill development.
    D. It has the potential to revitalize artisans’ livelihoods and cultural heritage.
    Correct Answer: D. It has the potential to revitalize artisans’ livelihoods and cultural heritage.
    Explanation: The Vishwakarma Yojana has the potential to revitalize artisans’ livelihoods and contribute to the preservation of cultural heritage by providing financial support, skill development, modern techniques, and market access. It aims to uplift traditional industries rather than leading to their extinction.

Boost up your confidence by appearing our Weekly Current Affairs Multiple Choice Questions

Loading