New Delhi: Union Minister Ashwini Vaishnav has announced an initiative to empower 30 lakh artisans and their families by offering collateral-free loans at subsidised rates through the Vishwakarma scheme. The Prime Minister unveiled this scheme during his Independence Day address to the nation. The scheme garnered approval from the Cabinet Committee on Economic Affairs, headed by Prime Minister Narendra Modi.
Vaishnav emphasised that the Vishwakarma scheme is poised to deliver substantial benefits to 30 lakh artisans and their families. In its inaugural phase, the scheme will encompass 18 traditional trades, securing a financial allocation of ₹13,000 crore over a five-year span until 2028.
The PM Vishwakarma scheme introduces various components, including PM Vishwakarma certificates, identification cards, and credit assistance of up to ₹1 lakh. It further extends provisions for skill enhancement, promotion of toolkits, incentives for digital transactions, and support for marketing initiatives. Noteworthy trades encompassed within the scheme’s initial phase comprise carpenters, boat builders, locksmiths, goldsmiths, sculptors, shoemakers, and engravers.