Home News “Loan of ₹1 Lakh with Maximum 5% Interest under Vishwakarma Scheme”: Central Government

“Loan of ₹1 Lakh with Maximum 5% Interest under Vishwakarma Scheme”: Central Government

by khushahal vishwakarma
vishwakarma

Under the Vishwakarma Scheme, Central Minister Ashwini Vaishnaw has stated that a loan of ₹1 lakh with a maximum interest rate of 5% will be provided. He announced that this scheme will allocate ₹13,000 crores over five years and will initially cover 18 traditional trades.

The “PM Vishwakarma” scheme for artisans and craftsmen has been approved by the government. Prime Minister Narendra Modi announced this scheme in his Independence Day speech, one day after the approval by the cabinet. This was his last speech before the upcoming national elections. Ashwini Vaishnaw mentioned that this scheme will provide ₹13,000 crores over five years and will initially cover 18 traditional trades. The government believes that around 3 million people and their families, especially from the Other Backward Classes (OBC) community, will benefit from this scheme.

 

Under this scheme, artisans and craftsmen will be identified through the PM Vishwakarma Certificate and ID card. They will receive loan assistance ranging from ₹1 lakh (first installment) to ₹2 lakh (second installment) at a subsidized interest rate of 5%.

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Beneficiaries will also receive support for skill development, toolkits, encouragement for digital transactions, and marketing assistance as per an official statement.

The Cabinet Committee on Economic Affairs (CCEA), under the leadership of PM Modi, has approved the “PM Vishwakarma” scheme along with other measures. Ashwini Vaishnaw highlighted that around 3 million artisans and their families will benefit from this scheme.

Under the “PM Vishwakarma” scheme, artisans like boat builders, blacksmiths, lock makers, goldsmiths, potters, sculptors, cobblers, and tailors are included.

Central Minister Anurag Thakur announced that the CCEA has given the green signal to the “PM E-Bus Service”, wherein 10,000 e-buses will be added to the country’s fleet. These buses will operate for 10 years. Thakur stated that these e-buses will be deployed in 169 cities, and the basic framework will be enhanced in 181 cities under the Green Urban Mobility Initiative.

The Cabinet has approved the “PM E-Bus Service” on the public-private partnership model to enhance city bus services through 10,000 e-buses. The estimated cost of this plan is ₹57,613 crores, with ₹20,000 crores supported by the Central Government. This initiative will support bus operations for 10 years.

It is estimated that through the deployment of around 10,000 e-buses, this scheme will create 45,000 to 55,000 direct jobs in city bus operations.

The scheme comprises two parts – enhancing city bus services and developing a foundational framework under the Green Urban Mobility Initiative. This envisions green urban mobility with priority to buses, basic infrastructure, and multi-modal interchange facilities.

According to an official statement, the states/cities will be responsible for operating and compensating bus operators under this scheme. The Central Government will support these bus operations through subsidies.

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