PM Vishwakarma Yojana: Everything you need to know

PM modi launched PM Vishwakarma yojana on the occasion of Vishwakarma Jayanti on Sunday.  Vishwakarma Yojana is a centrally sponsored scheme. Under this cheaper loans will be provided to traditional artisans and craftsmen. Giving details, finance minister Nirmala Sitharaman said the government will provide subsidy of up to 8 percent on interest of loan without any mortgage. The  Rs 13,000-crore scheme was announced in the budget 2023 budget.

Finance Minister Nirmala Sitharaman revealed that under PM Vishwakarma Yojana,  loan of up to Rs 3 lakh will be provided to the artisans at a concessional interest rate of 5 percent without any mortgage. Initially, a loan of one lakh rupees will be given under this scheme and as soon as the loan is repaid by the beneficiary. He will be provided an additional Rs 2 lakh.

Loan will be available to people involved in 18 activities including carpenters, goldsmiths, blacksmiths, masons, stone sculptors, barbers and boat makers.  Along with financial assistance, advance skill training, knowledge of modern digital technology, digital payment, link to global and domestic market and brand promotion etc. will also be provided to borrower

Under PM Vishwakarma Yojana, training of 5 days will be given and a payment of Rs 500 per day will also be provided. Apart from this, a grant of Rs 15,000 will be given as toolkit incentive. At the same time, to promote digital transactions, an incentive of up to Re 1 per transaction will be given for up to 100 transactions.