India Press Dispatch
Buisness

PM Vishwakarma Yojana: Craftsmen may get a loan of up to Rs. 2 lakh at a rate of 5%

<p>During a meeting presided over by Prime Minister Narendra Modi, the Cabinet Committee on Economic Affairs authorized a new Central Sector Scheme called “PM Vishwakarma” for artists and craftspeople.<img decoding=”async” class=”alignnone wp-image-129250″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/08/theindiaprint.com-pm-vishwakarma-yojana-craftsmen-may-get-a-loan-of-up-to-rs-2-lakh-at-a-rate-of-5-download-2023-08-17t174707.377-11zon.jpg” alt=”theindiaprint.com pm vishwakarma yojana craftsmen may get a loan of up to rs 2 lakh at a rate of 5 download 2023 08 17t174707.377 11zon” width=”1237″ height=”823″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/08/theindiaprint.com-pm-vishwakarma-yojana-craftsmen-may-get-a-loan-of-up-to-rs-2-lakh-at-a-rate-of-5-download-2023-08-17t174707.377-11zon.jpg 275w, https://www.theindiaprint.com/wp-content/uploads/2023/08/theindiaprint.com-pm-vishwakarma-yojana-craftsmen-may-get-a-loan-of-up-to-rs-2-lakh-at-a-rate-of-5-download-2023-08-17t174707.377-11zon-150×100.jpg 150w” sizes=”(max-width: 1237px) 100vw, 1237px” title=”PM Vishwakarma Yojana: Craftsmen may get a loan of up to Rs. 2 lakh at a rate of 5% 9″></p>
<p>The program would cost Rs 13,000 crore and be implemented over a five-year period beginning with the financial year 2023–24 and ending with the financial year 2027–28.</p>
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<p>It emphasizes expanding the quality and market reach of the goods and services provided by artists and craftsmen as well as ensuring that the Vishwakarmas are included in both local and international value chains.</p>
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<p>As part of the program, artists and crafters will get recognition in the form of a PM Vishwakarma certificate and identification card, as well as credit support up to Rs 1 lakh in the first tranche and Rs 2 lakh in the second tranche at a special interest rate of 5%.</p>
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<p>The program will also provide recipients incentives for toolkits, incentives for digital transactions, and marketing support.</p>
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<p>Regular transactions were covered.</p>
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<p>The administration emphasized that the program would encompass 18 traditional trades to help both rural and urban communities.</p>
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<p>Carpenter, Boat Maker, Armourer, Blacksmith, Hammer and Tool Kit Maker, Locksmith, Potter, Sculptor, Stone breaker, Cobbler, Mason, Basket/Mat/Broom Maker/Coir Weaver, Doll & Toy Maker, Barber, Garland maker, Washerman, Tailor, and Fishing Net Maker are some of these crafts.</p>
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<p>The program seeks to support and foster the family-based practice of traditional skills by craftsmen and craftspeople using their hands and tools, or the Guru-Shishya parampara.</p>
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