Financial outlay for PM Vishwakarma Scheme from FY24 to FY28 is Rs 13,000 crore: Minister
As on December 18, 2023, as per PM Vishwakarma Portal, 57,815 applications have been registered for availing the benefits of the PM Vishwakarma Scheme.
Indian Footwear and Leather Development Programme (IFLDP) has been approved for continuation from 2021-22 with an approved financial outlay of Rs 1700 crore till March 2026 or till further review, whichever is earlier, the Commerce Ministry said here on Saturday.
The IFLDP is aimed at the development of infrastructure for the leather sector and addresses environmental concerns specific to the leather sector. It has also been mandated to facilitate additional investments, employment generation and increase in production of the leather sector, said a senior officer of the Ministry.
He said Special Purpose Vehicle would be constituted for each CETP that would offer 80% assistance of the total project cost for Northeastern Areas with industry’s/beneficiary share to be 20% of the project cost and 70% assistance of the total project cost for other areas with industry’s/beneficiary share to be 30% of the project cost with a limit of Rs 200 crore.
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For Integrated Development of Leather Sector (IDLS), the government would also provide assistance to the sectoral units for the modernization of their capacity. While 30 % assistance to MSME units and 20% to other units would be offered for upgradation, the units in the North Eastern sector would be given assistance of 40% of cost of plant and machinery to MSME units and 30% of the same to other units, the Ministry said.
Besides, 5 % additional financial assistance would be given if they are using domestically manufactured plants and machinery, the Ministry said. The Maximum assistance would be provided upto Rs 15 crore per product line keeping in view 5 times increase in upper limit of investment in Plant and Machinery by MSME, it added.
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