The Vishwakarma scheme for artists and craftspeople was introduced by Prime Minister Narendra Modi on Sunday in Delhi. A loan will be provided to craftsmen under this plan at low interest rates and without any type of security. With a 5% discounted interest rate, artisans will receive two tranches of collateral-free loans totaling about Rs 3 lakh—a Rs 1 lakh first installment and a Rs 2 lakh second installment. They would receive up to Rs 15,000 in financial assistance for the purchase of toolkits.
Details on PM Modi introduced the Vishwakarma program
Additionally, training, a daily allowance of about Rs 500, free application, ID cards, and certificates would be provided to artisans and crafters. This plan aims to improve the quality and accessibility of the goods and services provided by traditional craftsmen and artisans.
The Union Cabinet gave the Vishwakarma project a cost allocation of Rs 13,000 crore last month. The decision was made after Prime Minister Modi stated in his Independence Day 2023 speech that his administration will introduce a program on the occasion of Vishwakarma Jayanti to aid artisans, particularly those from the OBC community.
The Vishwakarma Yojana, which would launch with an allocation of roughly 13–15,000 crore rupees, will empower weavers, goldsmiths, blacksmiths, laundry workers, barbers, and similar families, he said.
