PM Modi launches Vishwakarma Scheme ahead of Lok Sabha elections

NEW DELHI: With less than a year left for the next Lok Sabha polls, Prime Minister Narendra Modi launched the Rs 13,000-crore Vishwakarma scheme extending benefits to artisans primarily belonging to the Other Backward Classes (OBCs) of the lower strata and the Dalit castes.

It’s estimated the scheme will benefit about three million families of traditional artisans and craftsmen across one and a half dozen small-time occupations.

They include weavers, goldsmiths, blacksmiths, laundry workers, barbers, carpenters, boat-makers, small tool makers, potters, cobblers and masons.


Inaugurating the scheme and a modern India International Convention and Expo Centre ‘Yashobhoomi’ in Dwarka here on Vishwakarma Day, the prime minister said he was dedicating it to “every labourer, every Vishwakarma (artisan) of the country”. The day also marked Modi’s 73rd birthday.

The prime minister underlined that his government was committed to giving due recognition to the marginalised people.

On the occasion, Modi 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 Vishwakarma scheme.

The prime minister urged the artisans and craftsmen to buy Made in India toolkits from shops which are GST-registered. He said that people should support ‘Vocal for Local’ during the forthcoming festivals.

Finance minister Nirmala Sitharaman said the launch of the PM Vishwakarma scheme for craftsmen and artisans is part of the current government’s efforts to ensure all vulnerable and backward sections of society are adequately empowered.

Collateral-free loans of up to Rs 3 lakh per beneficiary will be extended to craftspersons at a subsidised interest rate under the scheme. It offers enterprise development loans of Rs 1 lakh (first tranche with a repayment period of 18 months) and Rs 2 lakh (second tranche with a repayment period of 30 months).

Sitharaman said the beneficiaries will get the loans at a concessional interest of 5% and the government will extend an interest subsidy of 8%. The credit guarantee fees will be borne by the government.