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New Delhi: Centre approves Rs 1 lakh loan with 5% interest
The Union Cabinet on Wednesday approved the 'PM Vishwakarma' scheme with a financial outlay of Rs 13,000 crore for a period of five years that will benefit about 30 lakh families of traditional artisans and craftsmen, including weavers, goldsmiths, blacksmiths, laundry workers, and barbers.
New Delhi : The Union Cabinet on Wednesday approved the 'PM Vishwakarma' scheme with a financial outlay of Rs 13,000 crore for a period of five years that will benefit about 30 lakh families of traditional artisans and craftsmen, including weavers, goldsmiths, blacksmiths, laundry workers, and barbers.
The decision was taken at a meeting of the Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi. On Tuesday, the prime minister announced that the scheme will be launched on Vishwakarma Jayanti on September 17.
Under the scheme, artisans and craftsmen will be provided recognition through PM Vishwakarma certificate and ID card. They will be provided credit support of up to Rs 1 lakh (first tranche) and Rs 2 lakh (second tranche) with a concessional interest rate of 5 per cent. Artisans and craftsmen will also be provided skill upgradation, tool kit incentive, incentive for digital transactions and marketing support, an official statement said.
"Under the scheme, there will be two types of skilling programmes -- Basic and Advanced and a stipend of Rs 500 per day will also be provided to beneficiaries while undergoing skills training," Communication Minister Ashwini Vaishnaw said while briefing the media on Cabinet decisions here. They will also get a support of up to Rs 15,000 to buy modern tools, he added. He said in the first year, five lakh families will be covered and a total of 30 lakh families will be covered over five years from FY24 to FY28.
