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Govt Sanctions Rs 1,751 Crore Loans Under PM Vishwakarma Scheme

These traditional workers, referred to as 'Vishwakarmas,' are engaged in various occupations such as blacksmithing, goldsmithing, pottery, carpentry, sculpting, and more.

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Govt Sanctions Rs 1,751 Crore Loans Under PM Vishwakarma Scheme

Govt Sanctions Rs 1,751 Crore Loans Under PM Vishwakarma Scheme

As of October 31, banks have sanctioned loans totaling Rs 1,751 crore under the Prime Minister Vishwakarma (PM Vishwakarma) scheme, Minister of State for Finance Pankaj Chaudhary informed the Rajya Sabha on Tuesday.

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In a written reply to a parliamentary query, Chaudhary highlighted the government's efforts to address the challenges faced by borrowers, particularly in rural areas, and to streamline the flow of credit to meet the needs of the population. According to the data shared by the Minister, over 2.02 lakh accounts have been opened under the PM Vishwakarma scheme, with loans amounting to Rs 1,751.20 crore sanctioned.

Launched on September 17, 2023, the PM Vishwakarma scheme aims to provide comprehensive support to artisans and craftspeople who work with their hands and tools. These traditional workers, referred to as 'Vishwakarmas,' are engaged in various occupations such as blacksmithing, goldsmithing, pottery, carpentry, sculpting, and more.

With a financial outlay of Rs 13,000 crore for the period from FY 2023-24 to FY 2027-28, the scheme seeks to empower these skilled artisans and craftspeople by facilitating access to financial resources and enhancing their business prospects.

Narendra Modi Scheme Pankaj Chaudhary