PM Vishwakarma Yojana: Get ₹3 Lakh Loan Without Guarantee – Check Eligibility & How to Apply

PM Vishwakarma Yojana Benefits: The Central Government’s PM Vishwakarma Yojana is proving to be a boon for traditional craftsmen and small artisans. If you too want to transform your ancestral skills into a big business, but a lack of resources is hindering you, this scheme can give new wings to your dreams.

Through this scheme, the government not only provides modern training but also offers affordable loans of up to ₹3 lakh without a guarantee to start your own business. In 2026, the rules of this scheme have been simplified further so that every Vishwakarma (artisan) in the country can become self-reliant. Let’s understand in detail in this article how you can take advantage of this government assistance and what documents are required.

This is an ambitious initiative of the Central Government that aims to empower artisans engaged in 18 different traditional occupations (such as goldsmiths, blacksmiths, potters, barbers, carpenters, etc.). The government believes that these artisans possess talent, but lack modern technology, and capital hinders them.

To address this gap, the PM Vishwakarma Yojana offers a combo package of modern technology, excellent training, and affordable loans. By joining this scheme, artisans can not only improve their standards but also establish themselves in the global market.

The most remarkable feature of this scheme is that the government not only teaches you the work but also provides financial support during the learning process. This provides both skill development and financial security.

When you receive training under this scheme, the government provides you with a daily stipend of ₹500. Upon completion of the training, you are provided with an e-voucher of ₹15,000 to purchase modern tools related to your trade. In addition, beneficiaries are also given a ‘Vishwakarma Certificate’ and ‘ID Card,’ which officially recognize their skills and help them obtain bank loans or government jobs in the future.

The government provides financial assistance in two phases to start your own startup or small business, without the need to visit a bank or mortgage any property. In the first phase, a loan of ₹1 lakh is provided to start the business. Once you repay the first loan and want to expand your business, an additional loan of ₹2 lakh is provided in the second phase. The biggest relief is that this entire loan is provided at a concessional interest rate of only 5%, which is much lower than any commercial bank.

The government has included all businesses that are the foundation of our society under this scheme. If you are engaged in any of the following occupations, you can apply today:

Carpenters, boat builders, gunsmiths, blacksmiths, locksmiths, goldsmiths, potters, sculptors, cobblers, masons, basket/mat/broom makers, doll and toy makers, barbers, garland makers (gardeners), washermen, tailors, and fishing net makers can benefit from this scheme.

The application process for the PM Vishwakarma Yojana has been made highly transparent and digital. You can register yourself in two ways. You can register by visiting the scheme’s official website, pmvishwakarma.gov.in.

If you are not comfortable with technology, you can also visit your nearest Common Service Center (CSC) to fill out the application form. You must have your Aadhaar card, mobile number, bank passbook, and business-related information. Once your verification is complete, you will be part of the training and loan process.