NEW DELHI: The Union Cabinet on Wednesday approved ‘PM Vishwakarma’ scheme to support traditional artisans and craftspeople of rural and urban India. The launch of the scheme was announced by Prime Minister Narendra Modi during his address to the nation from the ramparts of the Red Fort on the 77th Independence Day on Tuesday.

Briefing the media after a meeting of the union cabinet, Minister for Railways, Communications, Electronics and Information Technology Ashwini Vaishnaw said the scheme has a financial outlay of Rs 13,000 crore. “Under this scheme, loans up to Rs 1 lakh will be provided on liberal terms,” he said.

The Prime Minister had said in his address to the nation that the scheme will empower people with traditional skills. “In the days to come, we will launch a scheme on the occasion of Vishwakarma Jayanti, benefiting individuals skilled in traditional craftsmanship, particularly from the OBC community. Weavers, goldsmiths, blacksmiths, laundry workers, barbers, and such families will be empowered through the Vishwakarma Yojana,” the PM said.

The PM Vishwakarma Scheme aims to improve the quality, scale and reach of products and services of artisans and craftspeople and to integrate them with the domestic and global value chain. This would result in the economic empowerment of such workers, especially those belonging to the Scheduled Castes, Scheduled Tribes, Other Backward Communities, women, transgender and other weaker sections of the society.