Daily News Analysis

PM Vishwakarma Yojana

stylish_lining

 

 

Why in the News?

The Union Govt. has called on a meeting with states and bank officials to discuss the implementation of PM Vishwakarma scheme.

Vishwakarma Yojana:

  1. The scheme seeks to support traditional artisans and craftsmen which is to be implemented under three ministries:
    • Ministry of MSME
    • Ministry of Skill development
    • Ministry of Finance
  2. The scheme has been launched for a period of five years up to 2027-28 financial year.
  3. It is aimed at benefiting individuals skilled in traditional craftsmanship particularly from the OBC community.
  4. Beneficiaries
    • The beneficiaries of the scheme shall include Weavers, goldsmiths, blacksmiths, laundry workers, barbers, and such families covering 18 traditional trades across rural and urban areas and is projected to reach out to 30 lakh artisan families.
  5. To nurture the “Guru-Shishya parampara”.
    • It fosters to strengthen and nurture the “guru-shishya parampara” (teacher-pupil tradition) or family-based practice of traditional skills by artisans and craftspeople working with their hands and tools.
  6. Integration with wider market with the aid of digital technology
    • The scheme outlays to improve the quality and reach of products and services of artisans and craftspeople.
    • Enhancing the “Vishwakarmas” (craftspeople) integration with the domestic and global value chains.
  7. Recognition and Financial support
    • These artisans and craftspeople will be provided recognition through PM Vishwakarma certificate and identity card along with a collateral-free credit support of up to Rs 1 lakh (in the first tranche) and Rs 2 lakh (in the second tranche) at a concessional interest rate of 5%.
  8. Improvisation of Skill-set
    • Upgrade their skill-set by providing training for 4-5 days and give incentives for digital transactions and marketing support.
    • A stipend of Rs 500 will be provided for skill-training and Rs 1,500 to purchase modern tools

The issues that the scheme seeks to address:

  1. Unorganised production base
  2. Limited market opportunities
  3. Low education of the artisans
  4. Outdated production methods and lack of modernization efforts
  5. Lack of funding
  6. Lack of quality raw materials
  7. Lack of market linkages
  8. Dominance of middlemen
  9. Information asymmetry to understand market needs
  10. High production cost

New Opportunities lying ahead:

  1. Emerging demand for crafts-goods in developed countries such as USA, Canada, Britain, France, Germany, Italy etc.
  2. Rising demand and usage of handicrafts products in fashion industry.
  3. Development of sectors like Retail, Real Estate that offers great requirements of handicrafts products.
  4. Developing of domestic and international tourism sector.
  5. E-Commerce and Internet are emerged as promissory distribution channels to market and sell the craft products

MCQ:

Statement 1: The PM Vishwakarma scheme is implemented by Ministry of skill development and Ministry of Rural Development.

Statement 2: The scheme is applicable both to rural areas and urban areas.

 Which among the following are correct?

 a. Both Statement-I and Statement-II are correct and Statement-II is the correct explanation for Statement-I

 b. Both Statement-I and Statement-II are correct and Statement-II is not the correct explanation for Statement-I

 c. Statement-I is correct but Statement-II is incorrect

 d. Statement-I is incorrect but Statement-II is correct

 Correct Ans: d. Statement-I is incorrect but Statement-II is correct

 Explanation:

  The scheme which seeks to support traditional artisans and craftsmen which is to be implemented under three ministries:

  •  
  •      Ministry of MSME
  •      Ministry of Skill development
  •      Ministry of Finance

       Hence, statement 1 is incorrect.

   The scheme is applicable both to rural areas and urban areas. Hence, statement 2 is correct.

 

 

 

Critical Minerals

India’s first auction of deep-sea blocks for the extraction of critical minerals has been delayed indefinitely after receiving a poor response from bidders. This auction was expected to be a
Share It

CAG Report on States’ Fiscal Health

The Comptroller and Auditor General of India (CAG) has released its first decadal analysis on the fiscal health of 28 Indian states, revealing significant concerns over the increasing public debt.
Share It

President's Rule

The extension of President’s Rule in Manipur has brought to the fore the historical and controversial use of Article 356 of the Indian Constitution, shedding light on how its imposition disr
Share It

Beggars' Homes in India

In M.S. Patter v. State of NCT of Delhi, the Supreme Court (SC) held that state-run beggars’ homes are not merely penal institutions or charitable endeavors but are instead constitutional tr
Share It

Public Distribution System (PDS)

India's Public Distribution System (PDS) has long been a cornerstone of food security, ensuring access to subsidised cereals for millions of people. However, a recent Crisil study using the &l
Share It

Saudi-Pakistan Strategic Mutual Defense Agreement (SMDA)

The recent Saudi-Pakistan Strategic Mutual Defense Agreement (SMDA) represents a major shift in the geopolitical landscape of the Middle East and South Asia, with significant implications for Indi
Share It

Wassenaar Arrangement

The Wassenaar Arrangement is facing significant challenges in adapting its controls to the rapid growth of cloud technology. This issue highlights the need to update its control lists and enforcem
Share It

National Crime Records Bureau (NCRB)

The National Crime Records Bureau (NCRB) report for 2023 highlights a 9.2% increase in crimes against children in India, with 177,335 cases registered in total. This reflects a concerning rise in
Share It

Doctrine of Contributory Negligence

The Andhra Pradesh High Court recently made an important ruling regarding the doctrine of contributory negligence in criminal law. The court clarified that contributory negligence does not apply t
Share It

Perpetual Bonds

The Indian Renewable Energy Development Agency Ltd (IREDA) recently raised ₹453 crore at an interest rate of 7.70% per annum through its second issue of Perpetual Bonds. This move is part of the
Share It

Newsletter Subscription


ACQ IAS
ACQ IAS