Prime Minister Narendra Modi on Sunday launched the Rs 13,000-crore PM Vishwakarma Yojana (scheme) for traditional artisans and craftsmen.

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"Today I dedicate 'Yashobhoomi' to every labourer, every 'Vishwakarma' of the nation," Modi said. The prime minister further said today there is such a government in the country that provides recognition to marginalised people.

On the launch of the 'PM Vishwakarma' Scheme, union finance minister Nirmala Sitharaman said, "In our country 'Vishwakarma' is considered to be the person who created everything around us. He is the master craftsman. These crafted well-skilled people lived around us, with us, and along with us.

"They actually made our economy self-sufficient and productive. That is why even 500 years ago, India could be the world leader and an endowed rich economy whose products were sought after the world over."

PM also unveiled 18 customised stamp sheets covering the 18 traditional trades whose workers are covered under the scheme, along with a toolkit e-booklet on the occasion of the launch of the Vishwakarma scheme.

Speaking at the event, Union Minister Piyush Goyal said, "In tough global situations, various events of G20 were organised in every corner of India under your (PM Modi) leadership. This connected all Indians and established it as the people's G20.

In a newspaper this morning, a senior economist called it 'Modi'fied G20. You passed the New Delhi leaders' declaration which will show a new direction and change the global scenario in the near future," Goyal said.

Union education minister Dharmendra Pradhan said, "Today PM Modi considers the world as his family. He has taken up the responsibility of tying the world together. In the recently ended G20 Summit, he took the responsibility of thinking for the deprived class of the world."

"In 2014 when we elected PM Modi as our leader, in his first comment he said that this government will be for the deprived class. When I look back these nine and a half years, several Jandhan accounts have been opened. Today under the 'PM Vishwakarma' Scheme lakhs of Vishwakarma brothers and sisters will get Rs 3 lakhs loans on less interest rates," Pradhan said.

What is the Vishwakarma scheme?

The goal of the Vishwakarma scheme is to enhance the accessibility and quality of products and services offered by traditional artisans and craftsmen.

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 an 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.

Giving details about the Vishwakarma scheme to the gathering at the Yashobhoomi, Prime Minister Modi asked the artisans and craftsmen to purchase Made In India toolkits from only those shops that are GST-registered.

Stressing the government's vision of 'Vocal for Local', he also asked people to purchase local products during the forthcoming festivals, including Ganesh Chaturthi, Dhanteras and Diwali.

The Cabinet Committee on Economic Affairs chaired by the prime minister had last month approved the new Central Sector Scheme 'PM Vishwakarma' with a financial outlay of Rs 13,000 crore for a period of five years (FY 2023-24 to FY 2027-28).

Under PM Vishwakarma scheme, artisans and craftspeople will be provided recognition through PM Vishwakarma certificate and ID card, credit support up to Rs 1 lakh (first tranche) and Rs 2 lakh (second tranche) with a concessional interest rate of 5 percent.

The scheme will further provide skill upgradation, toolkit incentives, incentives for digital transactions, and marketing support. Artisans or craftsmen working with hands and tools and engaged in one of the 18 family-based traditional trades are eligible to avail the benefits of the scheme.

These trades include carpenter; boat maker; armourer; blacksmith; hammer and toolkit maker; locksmith; goldsmith; potter; sculptor (moortikar, stone carver), stone breaker; cobbler; mason; basket/mat/broom maker/coir weaver; doll & toy maker (traditional); barber; garland maker; washermen; tailor; and fishing net maker.

First Published:Sept 17, 2023 4:10 PM IST