This Article is From Aug 16, 2023

"Rs 1 Lakh Loan With Maximum 5% Interest Under Vishwakarma Scheme": Centre

Vishwakarma Scheme: The scheme will receive Rs 13,000 crore for five years and cover 18 traditional trades to start with, said Union Minister Ashwini Vaishnaw.

'Rs 1 Lakh Loan With Maximum 5% Interest Under Vishwakarma Scheme': Centre

PM Vishwakarma scheme will cover 18 traditional trades in the 1st instance, Ashwini Vaishnaw said (File)

New Delhi:

A "PM Vishwakarma" scheme for artisans and craftsmen was approved by the government today, a day after Prime Minister Narendra Modi announced it in his Independence Day speech, his last before next year's national election. The scheme will receive Rs 13,000 crore for five years and cover 18 traditional trades to start with, said Union Minister Ashwini Vaishnaw.

Some 30 lakh people and their families, mainly from the Other Backward Classes (OBC), are likely to benefit from the scheme, said the government.

In the scheme, artisans and craftsmen will be given recognition through the PM Vishwakarma certificate and ID card. They will be provided credit support of up to Rs 1 lakh (first tranche) and Rs 2 lakh (second tranche), with a concessional interest rate of 5 per cent.

The beneficiaries will also be provided skill upgradation, tool kits, an incentive for digital transactions, and marketing support, an official statement said.

The Cabinet Committee on Economic Affairs (CCEA) chaired by PM Modi approved the "PM Vishwakarma" along with other measures. The scheme will benefit 30 lakh craftsmen and their families, Union Minister Ashwini Vaishnaw said.

"Under the PM Vishwakarma scheme, artisans and craftspeople will be provided recognition through PM Vishwakarma certificates, ID cards, credit support upto Rs 1 lakh (in the first tranche) and Rs 2 lakh (in the second tranche) with a concessional interest rate of 5%. The scheme will further provide skill upgradation, toolkit incentive, incentive for digital transactions, and marketing support," the Centre said in a statement.

Those in "PM Vishwakarma" include carpenters, boat makers, blacksmiths, locksmiths, goldsmiths, potters, sculptors, cobblers, and masons, among others.

In the meeting, the CCEA also greenlit the "PM-eBus Sewa" under which 10,000 e-buses will be added to the country's fleet and operations will be supported for 10 years, Union Minister Anurag Thakur said.

"10,000 e-buses will be deployed in 169 cities and infrastructure will be upgraded in 181 cities under the Green Urban Mobility Initiatives," Mr Thakur said.

"The cabinet has approved the "PM-eBus Sewa" to augment city bus operations by 10,000 e-buses on a Private-Public Partnership model.  The scheme would have an estimated cost of Rs 57,613 crore, of which support of Rs 20,000 crore will be provided by the central government. The scheme will support bus operations for 10 years," he added.

The scheme will generate 45,000 to 55,000 direct jobs through the deployment of around 10,000 buses in city bus operations, an official statement said.

The scheme has two segments -  one to augment the city bus services and the other to develop infra under the Green Urban Mobility Initiatives which envisages green initiatives like bus priority, infrastructure, and multimodal interchange facilities among other things, the Centre said.

"Under the scheme, states/cities will be responsible for running the bus services and making payments to the bus operators. The central government will support these bus operations by providing a subsidy," the statement said.

The PM-eBus Sewa will boost e-mobility, the Centre said.

.