Day after PM’s I-Day promise, Cabinet clears Rs 13,000-cr Vishwakarma scheme

The Union Cabinet on Wednesday (August 16) approved a Rs 13,000-crore PM Vishwakarma scheme that will benefit about 30 lakh traditional artisans and craftsmen, including weavers, goldsmiths, blacksmiths, laundry workers, and barbers.

Prime Minister Narendra Modi made the announcement in his Independence Day address the day before.

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Under the scheme, craftsmen will be provided with a subsidised loan of Rs 1 lakh in the first tranche and another Rs 2 lakh in the second tranche, Union Communications Minister Ashwini Vaishnaw said after the Cabinet meeting.

The loans will be provided at a concessional interest rate of 5 per cent. On Tuesday (August 15), the prime minister announced that the scheme will be launched on Vishwakarma Jayanti on September 17.

(With agency inputs)