Affirming that his Government gives priority to the “deprived sections” of society, Prime Minister Narendra Modi on Sunday launched the “PM Vishwakarma” scheme under which traditional craftsmen and artisans will be provided loan assistance of up to three lakh rupees at a minimal interest rate without the need for a guarantee.
Addressing the artisans who were given “praman patra” (certificates) on the occasion of “Vishwakarma Jayanti”, which also coincides with his birth day, the Prime Minister said amidst loud clapping that banks would not ask for the collateral for the loan as it is on “Modi guarantee”.
With a financial outlay of Rs13,000 crore for a period of five years, the scheme will benefit about 30 lakh families of traditional artisans and craftsmen, including weavers, goldsmiths, blacksmiths, laundry workers, barbers, shoe makers and tailors, among others.
After inaugurating the newly built India International and expo centre at Dwarka, Modi said his government was the one who gave venefits to street hawkers and sellers under PM Nidhi scheme.
“Hamari vo sarkar hai jo vanchiton ko variyata deti hain”, said Modi. The Prime Minister said the craft of Indian artisans was seen in G20 meet and sought the audience to “go vocal for local and then Global”. Modi who before his address interacted with individual artisan appealed to the audience and those listeing to him virtually that in coming festival months they should buy goods and articals which are “made in India”.
“These purchases should not be limited to earthen Diyas only..”, Modi said amidst peel of laughter in the packed auditorium. The goal of the Vishwakarma scheme is to enhance the accessibility and quality of products and services offered by traditional artisans and craftsmen Modi said.
The scheme offers collateral-free enterprise development loans of ?1 lakh (first tranche for 18 months repayment) and ?2 lakh (second tranche for 30 months repayment).
A concessional rate of interest of 5% will be charged from the beneficiary with interest subvention cap of 8% to be paid by the Ministry of Micro Small and Medium Enterprises. The credit guarantee fees will be borne by the central government. The scheme also entails benefits such as recognition as a Vishwakarma through a certificate and ID card and skill verification followed by 5-7 days (40 hours) of basic training. Interested candidates can also enrol for 15 days (120 hours) of advanced training and a stipend of ?500 per day will be provided.
Besides, a ?15,000 grant will be provided as a toolkit incentive and an incentive for digital transaction of ?1 per transaction for up to 100 transactions monthly.
A National Committee for Marketing (NCM) will provide services such as Quality Certification, Branding & Promotion, E-commerce linkage, Trade Fairs advertising, publicity and other marketing activities. An artisan or craftsperson working with hands and tools and engaged in one of the 18 family-based traditional trades mentioned in the scheme, in the unorganised sector on a self-employment basis, shall be eligible for registration under PM Vishwakarma. The minimum age of the beneficiary should be 18 years on the date of registration.