Government Scheme: The central and state governments in India run several schemes to empower people economically. One such scheme is the Pradhan Mantri Vishwakarma Kaushal Samman Yojana, which was launched in 2023. This scheme aims to help those involved in traditional trades or crafts. Its objective is to provide them with a new identity, improved skills, and financial assistance.
Today, a large number of artisans and workers are benefiting from this scheme. This scheme is very useful for those who want to start their own small business or expand their existing business. Under this scheme, the government provides loans up to Rs 3 lakh at a low-interest rate.
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What are the benefits of the scheme?
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The PM Vishwakarma Yojana is not limited to just loans. Under this scheme, beneficiaries first receive advanced training related to their work, which improves their skills and the quality of their work. During the training, a daily stipend of Rs 500 is also provided, so that there is no loss of income while learning.
In addition, toolkit assistance of up to Rs 15,000 is provided for the necessary tools. Regarding the loan, in the first phase, a loan of up to Rs 1 lakh is provided, which has to be repaid within 18 months. Upon timely repayment, an additional loan of up to Rs 2 lakh is provided in the second phase for 30 months. Thus, a total assistance of up to Rs 3 lakh is available.
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Who is eligible for the loan?
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The Pradhan Mantri Vishwakarma Yojana loan is available to those who are engaged in traditional professions and want to start or expand their own business. This scheme includes 18 types of trades, such as fishing net makers, hammer and toolkit makers, locksmiths, masons, basket, mat and broom makers, doll and toy makers, barbers, blacksmiths, stone carvers, sculptors, cobblers and shoemakers, stone breakers, washermen, tailors, boat builders, and garland makers.
The government provides loans under this scheme at an interest rate of approximately 5 percent. If you are associated with any of these professions and meet the eligibility criteria, you can apply for this scheme and promote your business.