The Vishwakarma Yojana program of the Centre will put a strong emphasis on giving traditional craftspeople and artisans financial support.
The Centre approved the Vishwakarma Yojana, a program to provide economic prospects for those practicing traditional crafts, a day after Prime Minister Narendra Modi announced it in his Independence Day address.
Union Minister Ashwini Vaishnaw made the statement on Wednesday, stating that PM Modi authorized the “PM Vishwakarma” program to help those with traditional talents during today’s Union Cabinet meeting.

Craftsmen would receive subsidized loans up to Rs 2 lakh under the Rs 13,000 crore Vishwakarma Yojana, according to Union Minister Ashwini Vaishnaw.
“Artisans and craftsmen would be eligible for loans up to Rs 1 lakh (in the first tranche) at 5% interest under the PM Vishwakarma program. The first tranche will be this. Credit support up to Rs 2 lakh would be offered in the second tranche at a 5% concessional interest rate, according to Ashwini Vaishnaw.
The program will concentrate on giving traditional artists and craftspeople financial help. In addition, the program will offer advanced skill instruction.
A stipend of Rs. 500 will be given for skill development, and Rs. 1500 will be given for the purchase of contemporary tools.
The Viswakarma Yojana is anticipated to assist 30 lakh households of artisans. The government would support the promotion of traditional trades like blacksmithing, pottery making, construction, tailoring, and boat building under the PM Vishwakarma plan.
The program seeks to provide traditional employees with comprehensive institutional assistance by enabling access to financing with flexible terms, skill development, toolbox incentives, incentives for digital transactions, and marketing.
According to Ashwini Vaishnaw, the Vishwakarma Yojana is anticipated to assist 30 lakh families.
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He stated that common services facilities in communities are where people may register for the program.
The Union minister stated that the federal government would be responsible for paying for the entire program, but stressed that state governments’ assistance will be required.