U nder the Vishwakarma scheme , c ollateral free credit

Solution

The key features of the PM Vishwakarma scheme are:  

• It is fully funded by the Union Government with a financial outlay of ₹13,000 crore for a period of five years (FY 2023-24 to FY 2027- 28).  
• The Vishwakarmas are registered free of charge through Common Services Centres using a biometric-based PM Vishwakarma Portal.  
• The artisans and craftspeople are provided recognition through a PM Vishwakarma Certificate and an ID Card.  
• They receive collateral-free credit support of up to ₹1 lakh (first tranche) and ₹2 lakh (second tranche) ( i.e. up to Rs.3 lakh) with a concessional interest rate of 5%. The interest subvention by the Government of India will be to an extent of 8% and provided upfront to the banks.  
• The scheme further provides craftsmen with methods of skill upgradation involving basic and advanced training, a toolkit incentive of ₹15,000 and incentives for digital transactions and marketing support.