With reference to the PM Vishwakarma Scheme consider the following statements It is a Centrally Spon...........

Economic Affairs Skill Development

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With reference to the PM Vishwakarma Scheme, consider the following statements

It is a Centrally Sponsored Scheme launched by MoMSME on the occasion of Vishwakarma Jayanti in 2023.
The scheme will cover 18 traditional trades in the first instance, such as carpenter, blacksmith, goldsmith, potter, etc.
The scheme supports artisans and craftspeople by providing credit, skill training, and promoting cultural heritage, integration into the formal economy, global value chains, innovation, and entrepreneurship.

How many of the statements· given above is/are correct?

Only One

Only Two

All Three

None of the above

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Explanation:

Only statements 2&3 are correct.

Recently, the Prime Minister of India has launched the 'Prime Minister (PM) Vishwakarma Scheme' on the occasion of Vishwakarma Jayanti. It will be implemented as a Central Sector Scheme, fully funded by the Government of India. Ministry of Micro, Small and Medium Enterprises (MoMSME) is the Nodal Ministry for the Scheme.

Scope and Coverage: The scheme encompasses 18 traditional trades across both rural and urban areas. These trades encompass carpenters, boat-makers, blacksmiths, potters, sculptors, cobblers, tailors, and more.

Objectives

To ensure that artisans are seamlessly integrated into both domestic and global value chains, thus enhancing their market access and opportunities.
Preservation and promotion of India's rich cultural heritage of traditional crafts.
Assisting artisans in transitioning to the formal economy and integrating them into global value chains.
Skill Development and Empowerment: The Scheme has been allocated a budget ranging from Rs 13,000 crore for five financial years from 2023-2024 to 2027-2028.
The scheme offers a stipend of Rs 500 for skill training and Rs 1,500 for the purchase of modern tools.
They will also be eligible for collateral-free credit support of up to Rs 1 lakh (first tranche) and Rs 2 lakh (second tranche) at a concessional interest rate of 5%.