Cabinet approves PM Vishwakarma scheme for traditional workers with ₹13,000 cr | Latest News India - Hindustan Times

Cabinet approves PM Vishwakarma scheme for traditional workers with 13,000 cr

BySaptarshi Das
Aug 16, 2023 06:29 PM IST

Prime Minister Narendra Modi announced the introduction of PM Viswakarma scheme to uplift workers with traditional skills, during his Independence Day speech on Tuesday

The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved the PM Vishwakarma scheme to support people with traditional skills with a financial outlay of 13,000 crore for a period of five years until 2028. PM Modi announced the introduction of this scheme to uplift workers with traditional skills, during his Independence Day speech on Tuesday.

Prime Minister Narendra Modi. (File Photo)
Prime Minister Narendra Modi. (File Photo)

“Vishwakarma Yojana is expected to benefit 30 lakh craftsmen families. The 13,000 crore scheme will enable craftsmen to get subsidised loans up to 2 lakh. Under the PM Vishwakarma scheme, the government will promote traditional skills including pottery, blacksmithing, construction, tailoring, and boat-building which have been transferred through the previous generations. There are many such things under this which have high value for our rural and traditional economy and to push such things to new levels, PM has approved the scheme,” Union minister Ashwini Vaishnaw said at a press briefing after the Cabinet meeting.

Unlock exclusive access to the latest news on India's general elections, only on the HT App. Download Now! Download Now!

“Some of the salient features of this scheme is skill support and there would be two types of skill programme under the scheme and a stipend of 500 will be given to those who are taking benefit of the scheme and to buy modern tools, Rs. 15,000 in mode of support will be given. And loans up to 1,00,000 to the beneficiaries of the Vishwakarma scheme and only 5% interest will be levied on this scheme,’’ said Vaishnaw.

Also Read | Union Cabinet approves 14,903 cr for expansion of Digital India programme

“This will hugely benefit the beneficiaries of the scheme as market support in the form of quality certification, online market access and many more such initiatives have been taken and this scheme will also be amalgamated with Skill India and Digital India. To promote digital transactions, we will give incentives for 1,200 transactions. This programme is in line with Prime Minister Narendra Modi’s philosophy to connect lowest and traditional income segments with the modern proliferations of the economy,” Vaishnaw added

While affirming that the central government would be taking care of the entire funding of the Vishwakarma scheme, Union minister Vaishnaw urged state governments to show their support to the Centre to make the scheme more robust.

“Under the Vishwakarma scheme, 30,00,000 families will be supported but the government would need active cooperation from the state governments,” Vaishnaw added.

Tell us what your First Vote will stand for in a short video & get a chance to be featured on HT’s social media handles. Click here to know more!

Get Current Updates on India News, Elections 2024, Lok Sabha Election 2024 Live, Election 2024 Date, Weather Today along with Latest News and Top Headlines from India and around the world.
Share this article
Story Saved
Live Score
Saved Articles
My Reads
Sign out
New Delhi 0C
Wednesday, May 22, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On