PM-VBRY Creates 70 Lakh Jobs; PM Modi Releases 2,400 Crore
Prime Minister Modi recently highlighted the success of the PM-VBRY scheme, which has generated over 70 lakh jobs since its launch.
Source: GNews PM SchemePrime Minister Narendra Modi announced that the Pradhan Mantri Vishwakarma Bima Yojana (PM-VBRY) has created more than 70 lakh jobs across India since its inception. He also released 2,400 crore to support the hiring of an additional 15 lakh individuals under the scheme. The PM-VBRY scheme aims to empower traditional artisans and craftspeople, known as Vishwakarmas, by providing them with skill training, modern tools, and financial assistance. This initiative helps integrate them into the formal economy and enhances their livelihood opportunities. The scheme focuses on preserving India's rich heritage of traditional crafts while also promoting economic growth and employment generation, especially in rural and semi-urban areas. The government's continued investment in PM-VBRY underscores its commitment to supporting the unorganised sector and fostering self-reliance among skilled workers.
This news is important for competitive exams under Government Schemes and Economy sections (UPSC GS Paper II, SSC General Awareness). Aspirants should know the scheme's name, objectives, target beneficiaries, and key achievements like job creation and financial allocations. Understanding PM-VBRY helps in answering questions related to social welfare, skill development, and employment generation initiatives by the government.
- PM-VBRY has created over 70 lakh jobs since its launch.
- Prime Minister Modi released 2,400 crore for the scheme.
- This fund will support the hiring of an additional 15 lakh individuals.
- The scheme targets traditional artisans and craftspeople, known as Vishwakarmas.
- PM-VBRY aims to provide skill training, modern tools, and financial assistance.
- The scheme promotes economic growth and employment generation in India.
PM-VBRY is a Central Sector Scheme launched by the Government of India. It aims to support traditional artisans and craftspeople (Vishwakarmas) by providing them with skill training, access to modern tools, credit support, and market linkages. The scheme seeks to preserve traditional crafts and integrate artisans into the formal economy, enhancing their income and quality of life.
Vishwakarmas refer to traditional artisans and craftspeople in India. This includes various professions like carpenters, blacksmiths, potters, sculptors, cobblers, and goldsmiths. They play a crucial role in preserving India's cultural heritage and contribute significantly to the local economy through their skilled craftsmanship.
A Central Sector Scheme is a scheme fully funded by the Central Government and implemented by the Central Government machinery. These schemes are generally formulated on subjects from the Union List and are designed to address national priorities or specific target groups across the country.
Exams frequently ask about the launch year, objectives, target beneficiaries, and key features of government schemes. Focus on the financial allocations and job creation figures for PM-VBRY.
Remember 'VISHWAKARMA' for 'Vikas' (development) of 'Shilpkars' (artisans) through 'Karma' (work) and 'Aarthik Sahayata' (financial aid).
Frequently Asked Questions
What is the main objective of the Pradhan Mantri Vishwakarma Bima Yojana (PM-VBRY)?
The main objective of PM-VBRY is to provide holistic support to traditional artisans and craftspeople, known as Vishwakarmas. This includes skill upgradation, access to modern tools, financial assistance, and market linkages to help them integrate into the formal economy and improve their livelihoods.
When was the PM-VBRY scheme launched and what is its total outlay?
The PM-VBRY scheme was launched on September 17, 2023. It has a total financial outlay of 13,000 crore, allocated for a period of five years, from the financial year 2023-24 to 2027-28.
What kind of financial assistance do beneficiaries receive under PM-VBRY?
Under PM-VBRY, beneficiaries receive a toolkit incentive of 15,000. They are also eligible for collateral-free enterprise development loans up to 3 lakh, disbursed in two tranches, with an interest subvention of 8%.