Vishwakarma Yojana approved, 13 thousand crores will be spent in 5 years, know the special features of the scheme

Orhan Wadia
Orhan Wadia  - Editor
4 Min Read

Prime Minister Narendra Modi, the Union Cabinet on Wednesday approved the PM Vishwakarma scheme. Under this scheme, 13 thousand crore rupees will be spent in five years. The objective of the scheme is to provide loans at cheap interest to the workers engaged in skilled work.

Prime Minister Modi announced this scheme on Tuesday, 15 August. He was addressing the nation from the Red Fort after hoisting the flag on the occasion of Independence Day. At the same time, PM Modi had said that Vishwakarma Yojana would be launched on the occasion of Vishwakarma Jayanti to promote workers engaged in skill-related work.

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This amount will be spent

The Union Cabinet meeting was held on the next day of Independence Day i.e. Wednesday, 16 August. The scheme was approved in the cabinet meeting chaired by PM Modi. Union Minister Ashwini Vaishnav informed about the approval of the scheme after the meeting. He said that the Union Cabinet has approved the PM Vishwakarma scheme, which will cost Rs 13,000 crore.

30 lakh artisans will be benefited

He said that PM Under the Vishwakarma Yojana, 13 thousand crore rupees will be spent in five years from the financial year 2023-24 to the financial year 2027-28. It will start from September 17 on the occasion of Vishwakarma Jayanti. Under this, such workers will get benefit, who are engaged in the work related to skill and where the tradition of Guru-disciple is still going on. The minister said that this scheme will benefit 30 lakh traditional artisans.

These people will get benefit

Potential artisans who will get benefit from this central government scheme include blacksmiths, potters, Masons, washermen, florists, fish net weavers, locksmiths, sculptors etc. are being counted. Union Minister Vaishnav said that these people have a very important contribution in the rural economy. That is why the central government has started this scheme keeping them in mind.

Course for skill development

Under the PM Vishwakarma scheme, attention will be given to how More skills should be developed and traditional workers should get information about new types of tools and designs. Under this scheme, traditional workers will also be helped in the purchase of modern equipment. Under the scheme, two types of skill development courses – basic and advanced – will be conducted. Workers doing the course will be given stipend by the government. Stipend will be available at the rate of Rs 500 per day.

In this way financial help will be available

In the first phase of PM Vishwakarma Yojana, a loan of up to one lakh rupees will be given, on which the rate of interest will be Rs. Maximum will be 5 percent. After that, in the second phase, eligible workers will get a concessional loan of Rs 2 lakh each. Under PM Vishwakarma Yojana, artisans and craftsmen will also be given PM Vishwakarma certificate and identity card. 15 thousand rupees will be given to buy modern equipment.

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