PM Vishwakarma Yojana: Small artisans and customary workers usually don’t have adequate money to fulfill the requirements needed to grow their business. Considering their needs, the central government has initiated PM Vishwakarma Yojana. Based on this plan, deserving applicants are eligible for a loan worth Rs 3 lakh without assurance and at merely a 5 percent interest rate. Let us know how we can benefit under this plan and what it means to us.
What is PM Vishwakarma Yojana
PM Vishwakarma Yojana is a flagship scheme of the central government to promote skilled craftsmen. The scheme assists traditional craftsmen in enhancing their skills according to modern market needs.
Who Can Avail the Benefits
This plan is for workers of the unorganized sector using hand tools in one of the 18 notified traditional occupations. The candidate must be above the age of 18 and be an active participant of their occupation upon registration. The candidate must not have claimed benefit under PM Swanidhi, PMEGP, or Mudra schemes within the previous five years.
Benefits of the Scheme
Under this scheme, beneficiaries are given a PM Vishwakarma certificate and digital ID. They are eligible for a collateral-free loan in two tranches—Rs 1 lakh in the first and Rs 2 lakh in the second—at a mere 5 percent interest. The scheme also provides basic training (5–7 days) and advanced training (15+ days) with a daily stipend of Rs 500.
Loan Disbursement in Two Tranches
The loan amount is disbursed in two tranches. Beneficiaries receive Rs 1 lakh initially and Rs 2 lakh subsequently, both at 5 percent interest rate and without any collateral. There is a reward of Rs 1 per transaction, up to 100 transactions a month, for digital transactions.
How to Register for PM Vishwakarma Yojana
The registration can be done on the official website pmvishwakarma.gov.in. There are four important steps involved in the process—mobile and Aadhaar verification, submission of artisan registration form, downloading the PM Vishwakarma digital ID and certificate, and application for scheme benefits. A three-step verification process is adopted, comprising local verification, district-level verification, and final verification by the screening committee.
Contact Details for More Information
For enquiry and assistance, the government has offered toll-free telephone numbers 1800 267 7777 and 17923. Individuals interested may also approach the Ministry of Micro, Small and Medium Enterprises (MoMSME) through the Champions Desk.