Over 10k skilled workers in Ludhiana apply for central scheme
The scheme is a central government initiative aimed at empowering traditional artisans and skilled workers by providing accessible business loans.
Over 10,000 skilled workers from the city have applied for the PM Vishwakarma Scheme, officials said.
The scheme is a central government initiative aimed at empowering traditional artisans and skilled workers by providing accessible business loans, they added,
It offers financial assistance to craftspeople in trades like carpentry, blacksmithing, goldsmithing, pottery and tailoring, among others, helping them strengthen or start their businesses.
According to the officials, around 9,868 applications have been verified so far, and 4,655 of these were approved through the portal.
They said 77 applications are pending review.
Under the scheme, eligible applicants can receive loans up to ₹3 lakh in two phases, with easy repayment options that make it simpler for small business owners to manage finances, the officials added.
The scheme defines artisans as those working with hands and tools in any of 18 traditional trades, primarily on a self-employed basis.
It includes various professions, such as carpenters, boat makers, locksmiths, masons, basket weavers and cobblers, among others, engaged in craft-based family trades.
Key features
Selected artisans receive five to seven days of basic training with a daily stipend of ₹500. They are eligible for a toolkit incentive of up to ₹15,000, the officials said, and added that the scheme provides a first-phase loan of ₹1 lakh at a low annual interest rate of 5%.
Officials said the scheme’s repayment terms are designed to be manageable, reducing financial strain on small-scale artisans. Alongside financial aid, the programme offers skill training to help artisans enhance their craft, potentially adopting modern techniques that can improve their earnings, the officials went on to add.
“This scheme is a great opportunity for skilled workers to pursue their business dreams without worrying about high interest rates or burdensome repayment terms,” a city official said.
“It provides strong support for traditional artisans,” the official went on to add.
With high interest shown by locals in the PM Vishwakarma Scheme, officials said that it will boost the local economy by fostering sustainable growth for skilled workers and preserving traditional craftsmanship.