The central government has introduced various schemes to encourage and provide financial assistance to different communities. One of these schemes is the Vishwakarma scheme, which was launched last year to promote traditional professions in both rural and urban areas.
This scheme aims to benefit 18 categories of people from the OBC community by providing subsidized interest loans. Around 30 lakh families are expected to benefit from this scheme.
Under the Vishwakarma scheme, artisans will receive loans for skill improvement, toolkit incentives, digital transactions, and marketing.
The first instalment of the loan, up to Rs. 1 lakh, will carry a 5% interest subsidy and must be repaid within 18 months. Upon successful repayment, a second instalment of up to Rs. 2 lakh will be available with a 30-month repayment period.
This initiative supports small and medium-scale businesses by providing financial assistance to caste workers who have not availed any loan facility from the central government schemes.
The scheme will be valid from 2023 to 2028 and requires applicants to submit various documents such as photographs, Aadhaar, ration cards, PAN Card, mobile number, email ID, residence proof, caste proof, and bank account details.
Selected individuals will undergo 5 to 7 days of basic skills training followed by 15 days of advanced skills training, with a stipend of Rs. 500 per day. After completing the training, participants will receive Rs. 15,000 for a tool kit.
The Vishwakarma scheme aims to benefit various professions including carpenters, weapon makers, tailors, fish net makers, garland makers, barbers, masons, linen weavers, idol makers, potters, goldsmiths, blacksmiths, locksmiths, and tanners.