Govt to provide up to Rs 3 lakh loans without any bank guarantee: PM Modi

The government will provide up to Rs 3 lakh in loans without any bank guarantee, announced Prime Minister Narendra Modi on Sunday (September 17) as he launched the ‘PM Vishwakarma’ scheme in commemoration of the Vishwakarma Jayanti at the India International Convention and Expo Centre in Dwarka, New Delhi.

"Under the PM Vishwakarma scheme, the government will provide up to Rs 3 lakh in loans without any bank guarantee. It has also been ensured that the interest rate is also very low. The government has decided that a Rs 1 lakh loan will be given in the beginning, and when it is repaid, the government will provide an additional Rs 2 lakh loan to the Vishwakarma partners," said PM Modi.

#WATCH | Prime Minister Narendra Modi says "Under the PM Vishwakarma scheme, the government will provide up to Rs 3 lakhs loan without any (bank) guarantee. It has also been ensured that the interest rate is also very low. Govt has decided that Rs 1 lakh loan will be given in the… pic.twitter.com/eyfG6pvA6k

— ANI (@ANI) September 17, 2023

With an aim to provide assistance to artisans, PM Modi further announced a training programme and financial assistance of Rs. 500, along with a toolkit voucher worth Rs. 1500, for the craftsmen.

PM additionally said, "In the near future, training, technology, and tools will be very essential. Under the 'PM Vishwakarma' scheme, the government has focused on providing special training to the Vishwakarma partners, and Rs 500 will be provided to you while the training is underway. You will also get a Toolkit voucher worth Rs 1,500. The government will also help you with branding, packaging, and marketing the products you make. In return, the government wants you to purchase toolkits from shops that are GST registered only."

The scheme aims to strengthen and nurture the Guru-Shishya parampara, or family-based practice of traditional skills by Vishwakarmas working with their hands and tools. The prime focus of ‘PM Vishwakarma’ is to improve the quality as well as the reach of the products and services of artisans and craftspeople and to ensure that they are integrated with the domestic and global value chains.

PM Modi also interacted with Vishwakarma partners at the India International Convention and Expo Centre in Dwarka ahead of the launch of the 'PM Vishwakarma' scheme.

Prime Minister Narendra Modi interacts with Vishwakarma partners ahead of the launch of the 'PM Vishwakarma' scheme. pic.twitter.com/aZzDElQNFy

— ANI (@ANI) September 17, 2023

PM inaugurates IICC--YashoBhoomi

PM Modi inaugurated the first phase of the International Convention and Expo Centre (IICC), YashoBhoomi, at Delhi's Dwarka on Sunday, September 17. The Prime Minister also unveiled the extension of the Delhi Airport Metro Express line from Dwarka Sector 21 to a new metro station, ‘Yashobhoomi Dwarka Sector 25’.