PM Vishwakarma takes off with ₹13K crore for artisans
NEW DELHI : Prime minister Narendra Modi on Sunday launched a ₹13,000 crore PM Vishwakarma scheme that aims to help artisans and craftsmen with collateral-free loans and other financial incentives and training for upskilling. Under the scheme, artisans would get collateral-free credit of up to ₹3 lakh at a concessional interest rate of 5%.
They will be provided recognition through PM Vishwakarma certificates and ID cards, skill upgradation involving basic and advanced training, toolkit incentive of ₹15,000, collateral-free credit support (up to ₹1 lakh in the first tranche and ₹2 lakh in the second) at a concessional interest rate of 5%, incentives for digital transactions and marketing support. Addressing artisans and the nation in the run-up to assembly elections are due in Rajasthan and Madhya Pradesh and the general elections next year, Modi on Sunday said the Bharatiya Janata Party (BJP)-led government is the “only government" to look after the deprived people of the country.
The Prime Minister while launching the Vishwakarma scheme described the credit guarantee for loans under the scheme as “Modi’s guarantee" and also described himself as “son of the poor". Artisans and craftsmen would have to repay the ₹1 lakh loan from the first tranche within 18 months to qualify for the second tranche of ₹2 lakh.
Eligible artisans will be identified through a three-layer verification process—by gram panchayats, district collectors and by state-appointed committees. Addressing a conference at the India International Convention and Expo Centre—‘Yashobhoomi’—at Dwarka, Modi said that during the training period ₹ 500-per-day allowance will be paid to traditional craftspeople.
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