Ministry of MSME Unveils New Scheme to Support Growth and Innovation in Micro and Small Enterprises

The PM Vishwakarma Scheme was announced by the Hon’ble Finance Minister in the Annual Union Budget 2023-24 on 01.02.2023 and launched by the Hon’ble Prime Minister on 17.09.2023. The Scheme aims to provide end-to-end support to artisans and craftspeople who work with their hands and tools. The Scheme components include recognition through PM Vishwakarma Certificate and ID Card, Skill Upgradation, Toolkit Incentive, Credit Support, Incentive for Digital Transactions and Marketing Support.

The contours of the Scheme were finalized based on extensive consultations held with stakeholders, including artisans, craftspeople, Central Government Ministries and Departments, State/UT Governments, MSMEs, Industry Associations, NGOs, Banks, etc.