PM Vishwakarma Yojana: The Pradhan Mantri Vishwakarma Yojana was launched by the central government in September 2023. The government’s intention behind launching this scheme was to increase the income of people associated with traditional professions in the country by connecting them with modern skills, financial assistance, and market opportunities. In the past two years, millions of people have joined this scheme, and a large number of artisans are directly benefiting from it.

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Importance of the training provided under the scheme

Beneficiaries enrolled in this scheme first receive advanced training related to their work. This training is not merely formal; it teaches modern techniques that enable artisans to further enhance their skills. The training aims to ensure that people working in traditional professions can adapt their work to meet the needs of today’s times.

Stipend provided during training

The government also ensures that the income of artisans is not affected during the training period. Therefore, beneficiaries receive a daily stipend of Rs. 500 for the entire duration of the training. This amount is transferred directly to the beneficiary’s account, providing them with financial support.

Financial assistance for toolkits

Under the PM Vishwakarma Yojana, beneficiaries also receive assistance in purchasing the necessary tools for their work. The government provides financial assistance of Rs. 15,000 for buying toolkits, so that artisans can work with better equipment and improve the quality of their production.

Loan facility at low interest rates

One of the major advantages of this scheme is that beneficiaries also get loans on easy terms. In the first phase, a loan of up to Rs. 1 lakh is provided, which has to be repaid in 18 months. Once this loan is repaid on time, an additional loan of up to Rs. 2 lakh is available in the second phase, which can be repaid in 30 months. This loan is provided at a very low interest rate.

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What are the eligibility criteria for the PM Vishwakarma Yojana?

The benefits of the Pradhan Mantri Vishwakarma Yojana are available only to individuals engaged in traditional trades and who are at least 18 years old. This includes barbers, blacksmiths, masons, washermen, tailors, cobblers, boat builders, toy makers, stone carvers, sculptors, fishing net makers, and other traditional artisans. The scheme aims to provide respect and economic empowerment to these professions.