The scheme was announced in this year’s budget by Finance Minister Nirmala Sitharaman to lay emphasis on not just financial support but also skill development, knowledge, modernisation, efficiency, capacity building, sustainable practices, technological support, digitalisation of payments and linkage with the local and global markets for artisans.
Loan scheme for artisans: The government’s PM Vishwakarma scheme to provide credit to artisans and craftspeople is set to be launched by Prime Minister Narendra Modi on the occasion of Vishwakarma Jayanti on September 17. Sharing the information on X (formerly Twitter), Union Minister of Micro, Small and Medium Enterprises Narayan Rane said, “A review meeting was held regarding the preparations for the “PM Vishwakarma Yojana” to be launched on the auspicious occasion of Vishwakarma Day on 17th September. We are fortunate that this scheme will be launched by the respected Prime Minister.”
Importantly, PM Modi had highlighted the significance of the scheme in his Independence Day address this year. “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 Rs 13-15 thousand crore.”
Last month, the Cabinet Committee on Economic Affairs chaired by PM Modi had approved the Rs 13,000 crore outlay for PM Vishwakarma, for five years (FY24 to FY28). The scheme will offer loans up to Rs 1 lakh in the first tranche and up to Rs 2 lakh in the second tranche along with a certificate and identity card to the beneficiaries.
The scheme was announced in this year’s budget by Finance Minister Nirmala Sitharaman to lay emphasis on not just financial support but also skill development, knowledge, modernisation, efficiency, capacity building, sustainable practices, technological support, digitalisation of payments and linkage with the local and global markets for artisans.
Trades such as carpenter, boat maker, armourer, blacksmith, hammer and tool kit maker, locksmith, goldsmith, potter, sculptor, stone breaker, cobbler, mason, basket/mat/broom maker/coir weaver, doll & toy maker, barber, garland maker, washerman, tailor, and fishing net maker will be included under the scheme.
Vishwakarma is a Hindu deity for all craftspeople and is considered the divine architect. Annually Vishwakarma Puja is celebrated to recognise the work of craftspeople and artisans.
