The 'PM Vishwakarma' scheme, launched by Prime Minister Narendra Modi, aims to provide collateral-free loans and training to traditional craftsmen and artisans. With a financial outlay of Rs 13,000 crore for five years, the scheme is expected to benefit around 30 lakh families of artisans and craftsmen. Union Minister Nisith Pramanik stated that the scheme will empower skilled artisans and provide them with credit and digital support. Loans under the scheme will be offered at a concessional interest rate of 5%, with the Ministry of Micro Small and Medium Enterprises covering the interest subvention.