PM MODI LAUNCHES VISHWAKARMA SCHEME
New Delhi (17/09/2023): Prime Minister Narendra Modi on Sunday launched the Vishwakarma scheme to support artisans with Rs 13,000 crore funding, training and incentives for traditional trades. The scheme aims to benefit about 30 lakh families of traditional artisans and craftsmen, including weavers, goldsmiths, blacksmiths, laundry workers and barbers. The scheme offers collateral-free enterprise development loans of Rs 1 lakh (first tranche for 18 months repayment) and Rs 2 lakh (second tranche for 30 months repayment). A concessional rate of interest of 5 percent will be charged from the beneficiary with interest subvention cap of 8 percent to be paid by the Ministry of Micro, Small and Medium Enterprises.
The credit guarantee fees will be borne by the Central Government.
