A day after Prime Minister Narendra Modi announced a scheme to support skilled workers during his Independence Day address, the Union Cabinet on Wednesday approved a “PM Vishwakarma” scheme that will benefit about 30 lakh traditional artisans and craftsmen, including weavers, goldsmiths, blacksmiths, laundry workers, and barbers.
Under the scheme worth Rs 13,000 crore, craftsmen will be provided a subsidised loan of Rs 1 lakh in the first tranche, and another Rs 2 lakh in the second tranche, Union Minister Ashwini Vaishnaw said after the Cabinet meeting.
The PM in Union Cabinet meeting today approved ‘PM Vishwakarma’ scheme to support people with traditional skills. Under this scheme, loans up to Rs 1 lakh will be provided on liberal terms: Union Minister Ashwini Vaishnaw pic.twitter.com/CcDkV5slX1— ANI (@ANI) August 16, 2023
The loans will be provided at a concessional interest rate of 5 per cent.
On Tuesday, the Prime Minister announced that the scheme from the
ramparts of the Red Fort on the 77th Independence Day and said, “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’, which will begin with an allocation of around 13,000-15,000 crore rupees,”
(with PTI inputs)