Under PM Vishwakarma Yojana, loan will be available at only 5% interest, government will give subsidy of this percentage

On behalf of Finance Minister Nirmala Sitharaman, it has been said that under PM Vishwakarma Yojana, the government will give a subsidy of up to 8 percent on interest to the artisans taking loans. This will provide great relief to the artisans taking direct loans.

Vishwakarma Yojana for artisans was launched by PM Narendra Modi on Sunday. This scheme has been started by the government with a budget of Rs 13,000 crore. This was announced in the budget for the financial year 2023-24.

Giving information about PM Vishwakarma Scheme, Finance Minister Nirmala Sitharaman said that under this scheme, the government will give loans of up to Rs 3 lakh to the artisans at a concessional interest rate of 5 percent without giving any mortgage.

Initially, a loan of one lakh rupees will be given under this scheme, and as soon as the loan is repaid by the beneficiary. He will be paid an additional Rs 2 lakh.

The benefit of PM Vishwakarma Yojana will be available to people involved in 18 activities including carpenters, goldsmiths, blacksmiths, masons, stone sculptors, barbers, and boat makers.

In this scheme, along with financial assistance, advanced skill training, knowledge of modern digital technology, digital payment, links to global and domestic markets, and brand promotion, etc. will also be provided.

Under PM Vishwakarma Yojana, training of 5 days will be given and a payment of Rs 500 per day will also be made during this training. Apart from this, a grant of Rs 15,000 will be given as a toolkit incentive. At the same time, to promote digital transactions, an incentive of up to Re 1 per transaction will be given for up to 100 transactions.