Vishwakarma Scheme Offers Loans of up to Rs 1 Lakh with a Maximum 5% Interest Rate

In a significant move aimed at bolstering the traditional skills of artisans and craftsmen across both rural and urban India, the ‘PM Vishwakarma Scheme’ has received the nod of approval in a recent cabinet meeting presided over by Prime Minister Narendra Modi.

Unveiled by the Prime Minister himself on the 77th Independence Day celebrations, this visionary scheme aims to provide a financial boost to the skilled artisans by extending loans of up to one lakh rupees.

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Alongside this landmark decision, a range of other crucial matters were also deliberated upon during the cabinet session.

Empowering Traditional Skills

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Speaking at a press conference on Wednesday, Union Minister Ashwini Vaishnav conveyed the momentous development.

“Prime Minister Narendra Modi’s endorsement of the ‘Pradhan Mantri Vishwakarma’ scheme signifies the government’s commitment to support individuals possessing age-old talents. The scheme offers loans of up to one lakh rupees on lenient terms.”

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Paving the Path for Prosperity

In his address to the nation from the historic Red Fort on the occasion of the 77th Independence Day, Prime Minister Modi unveiled his ambitious plan for the ‘Vishwakarma Yojana’, set to launch during the upcoming Vishwakarma Jayanti next month.

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This program is expected to infuse newfound vitality into various communities within the Other Backward Classes (OBC), including entrepreneurs and artisans, paving the way for their upliftment.

Aiming High


Pointing to the connection between OBC communities and various skilled trades, Prime Minister Modi emphasized the significance of the Vishwakarma Yojana.

He stated, “This upcoming scheme, set to be inaugurated on the approaching Vishwakarma Jayanti with an allocation of around 13-15 thousand crore rupees, will empower countless businesspersons and artisans across the nation.”


Countdown to Launch

The Vishwakarma Scheme is set to be officially launched next month on September 17, 2023, coinciding with Vishwakarma Jayanti.

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This auspicious occasion holds special reverence for those involved in construction, manufacturing, and other similar trades.

It’s believed that Lord Vishwakarma, the divine architect, crafted celestial wonders, weaponry, and abodes for the gods, lending profound significance to the day.

As the government gears up to unleash the transformative ‘PM Vishwakarma Scheme’, the nation eagerly anticipates a brighter future for its skilled artisans and craftsmen, fostering economic growth and sustaining cultural heritage.

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