"PM Vishwakarma" is a new central sector programme that was authorised today by the Cabinet Committee on Economic Affairs (CCEA), which is presided over by Prime Minister Narendra Modi. According to Union Minister Ashwini Vaishnaw, the plan would provide collateral-free loans at discounted interest rates to 30 lakh craftspeople and their families as part of its benefits, which were announced by the PM in his Independence Day speech on Tuesday.

According to the Centre, the programme comprises two segments: one to supplement city bus services and the other to construct infrastructure under the Green Urban Mobility Initiatives, which envisions green initiatives such as bus priority, infrastructure, and multimodal interchange facilities, among other things.

18 traditional trades would be covered by the programme initially, which will have a financial investment of 13,000 crore for a five-year term ending in 2028, he added.

"Under the PM Vishwakarma scheme, artisans and craftspeople will be recognised through PM Vishwakarma certificates, ID cards, and credit support of up to 1 lakh (in the first tranche) and 2 lakh (in the second tranche) with a 5% concessional interest rate." "The scheme will also provide skill development, toolkit incentives, incentives for digital transactions, and marketing support," the Centre said in a statement.

Those included in the first instance under "PM Vishwakarma" include carpenters, boat builders, blacksmiths, locksmiths, goldsmiths, potters, sculptors, cobblers, and masons, among others.

"Under the Green Urban Mobility Initiatives," Mr Thakur added, "10,000 e-buses will be deployed in 169 cities, and infrastructure in 181 cities will be upgraded."

"The cabinet has approved the "PM-eBus Sewa" project, which will add 10,000 e-buses to city bus operations through a Private-Public Partnership model."  The plan will have an estimated cost of 57,613 crore, with the national government contributing 20,000 crore. "The scheme will support bus operations for a period of ten years," he continued.

According to an official release, the project would create 45,000 to 55,000 direct employment through the deployment of around 10,000 buses in municipal bus operations.