Which of the following statements is NOT true in relation of PM-VISHWAKARMA?

Explanation

Statement 1 is incorrect: The Prime Minister recently launched the Central Sector Scheme PM Vishwakarma Scheme to provide collateral-free loans and skills training to 18 categories of traditional artisans and craftspersons. The scheme has a total outlay of Rs 13,000 crore over five years, spanning until 2027-28. PM Vishwakarma, a Central Sector Scheme, was launched on 17th September, 2023 by the Prime Minister to provide end-to-end support to artisans and craftspeople who work with their hands and tools. Statements 2 and 3 are correct: Objective: The PM Vishwakarma Scheme is designed to support traditional artisans and craftsmen by offering them financial assistance, skills training, and toolkits to enhance their craft and livelihoods. The Ministry of Micro, Small & Medium Enterprise is the nodal ministry of the PM Vishwakarma Yojana. Components of the Scheme: Skills Training: Beneficiaries will attend a five-day skilling workshop. Toolkits: Artisans will receive a voucher of Rs 15,000 to purchase necessary tools for their craft. Interest-Free Loans: Artisans can avail themselves of an interest-free loan of Rs 1 lakh, repayable within 18 months. Upon repayment, they qualify for a second loan of Rs 2 lakh at an interest rate of 5 percent. Subsidy: Beneficiaries will receive a subsidy of up to 8 percent of the interest amount. Credit Guarantee: The scheme offers guarantee-free loans.