Lagatar24 Desk
New Delhi, August 16: The “PM Vishwakarma” scheme to aid traditional artists and craftspeople in rural and urban India was approved by the Union Cabinet on Wednesday.
In his address to the nation from the Red Fort’s ramparts on Tuesday, the 77th anniversary of Independence Day, Prime Minister Narendra Modi announced the launch of the programme.
The project has a budgetary outlay of Rs 13,000 crore, the Minister for Railways, Communications, Electronics and Information Technology, Ashwini Vaishnaw said, who briefed the public following a meeting of the Union Cabinet.
“Under this scheme, loans up to Rs 1 lakh will be provided on liberal terms,” he said.
In his address to the country, the Prime Minister stated that the programme will provide individuals with traditional talents more influence.
“In the days to come, we will launch a scheme on the occasion of Vishwakarma Jayanti, benefiting individuals skilled in traditional craftsmanship, particularly from the OBC community. Weavers, goldsmiths, blacksmiths, laundry workers, barbers, and such families will be empowered through the Vishwakarma Yojana,” the PM said.
The PM Vishwakarma Scheme seeks to integrate artisans and craftspeople into the domestic and international value chains while also enhancing the quality, scope and reach of their products and services. These workers will become more economically empowered as a result, particularly those who come from Scheduled Castes, Scheduled Tribes, Other Backward Communities, women, transgender people and other underprivileged groups in society.
“Under the PM Vishwakarma scheme, artisans and craftspeople will be provided loan upto Rs 1 lakh (in the first tranche) at 5% interest. This will be the first tranche. In the second tranche, credit support up to Rs 2 lakh will be provided at a concession interest rate of 5%, “Ashwini Vaishnaw said.
The programme will concentrate on giving traditional artisans and craftspeople financial help. In addition, the programme will offer advanced skill training.
A stipend of Rs 500 will be given for skill development and Rs 1500 will be given for the purchase of modern tools.
