PM Vishwakarma Yojana Benefits: The Government of India launches several schemes from time to time that are beneficial for the general public. Each scheme has a different objective. Some schemes provide direct financial assistance, while others encourage beneficiaries towards skill development and self-employment. One such scheme is the Pradhan Mantri Vishwakarma Kaushal Samman Yojana, which was launched in September 2023. This scheme is being run by the central government specifically to empower people associated with traditional trades.
Benefits under the scheme
Under this scheme, beneficiaries are first given a few days of advanced training. During the training, beneficiaries also receive a daily stipend of ₹500. In addition, beneficiaries participating in the scheme are also provided with a toolkit incentive of ₹15,000.
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Loan facility under the scheme
Under the Pradhan Mantri Vishwakarma Kaushal Samman Yojana, beneficiaries get a low-interest loan of up to ₹3 lakh to start or expand their business. In the first phase, a loan of ₹1 lakh is given for a period of 18 months, and later an additional loan of ₹2 lakh can be taken for 30 months. An interest rate of approximately 5% is applicable on this loan, which makes it much cheaper compared to other bank loans.
Who can avail the loan?
Those who participate in the scheme and undergo advanced training receive a daily stipend of ₹500 during the training period. Those who want to start their own business after the training are given a loan of up to ₹3 lakh at a low-interest rate.
Eligible people for this scheme
The PM Vishwakarma Kaushal Samman Yojana is specifically for people associated with the following traditional trades. The scheme is open to people such as fishing net manufacturers, hammer and toolkit makers, locksmiths and masons, basket, mat and broom makers, doll and toy makers, barbers, stone carvers and sculptors, cobblers/shoemakers, stone breakers, washermen and tailors, blacksmiths, boat builders, garland makers and weapons manufacturers, etc.
Adarsh P
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