PM Vishwakarma Yojana: If you’re a carpenter, tailor, blacksmith, potter, barber, or work in any other traditional profession, the central government’s Pradhan Mantri Vishwakarma Yojana may be beneficial. Under this scheme, eligible artisans can receive training, assistance of up to Rs 15,000 for purchasing tools, and a loan of up to Rs 3 lakh to expand their business.
The government launched this scheme to provide financial assistance to traditional artisans and promote their skills. Let’s explore the PM Vishwakarma Yojana, its benefits, and how to apply.
What is PM Vishwakarma Yojana?
The Pradhan Mantri Vishwakarma Yojana was launched on September 17, 2023. Its purpose is to help those who perform traditional work using their hands and tools. Under this scheme, artisans are provided with certificates and ID cards to recognize their work. They are also provided financial assistance to learn new technologies, purchase better tools, and expand their businesses. Eligible artisans working in both rural and urban areas can participate in this scheme.
Under this scheme, eligible artisans enjoy a range of valuable benefits designed to support their growth, including skill development programs, tool purchase assistance, affordable business financing, and rewards for going digital.
Rs 500 daily stipend during training
Artisans participating in this scheme receive hands-on training tailored to their craft. Basic training sessions typically run for 5 to 7 days, with the opportunity to advance to specialized training afterward. Participating artisans get a daily allowance of Rs 500 throughout their training period. This financial support enables artisans to enhance their expertise and master new methods.
Up to Rs 15,000 support for tool purchases
To empower artisans with quality equipment, the government provides a toolkit grant worth up to Rs 15,000. This benefit comes as e-vouchers that artisans can use to buy the tools they need according to scheme guidelines. This support helps artisans boost both the quality and efficiency of their output.
Business loan up to Rs 3 lakh
Artisans looking to grow their enterprises can tap into business loan options under this scheme. Qualified participants can access loans up to Rs 3 lakh distributed across two phases, with no collateral required.
Phase 1: Access up to Rs 1 lakh with a repayment window of up to 18 months.
Phase 2: Access up to Rs 2 lakh with a repayment window of up to 30 months.
The loan interest rate for scheme participants is fixed at 5%. Completing the basic training is a prerequisite for the first loan. For the second loan, certain requirements must be met, including maintaining an active account from the first loan, using digital payment methods, or finishing advanced training. Remember that loans aren’t given automatically—they require meeting eligibility criteria, scheme requirements, and bank approval.
Digital payment incentives are also offered
The government actively promotes digital adoption among artisans. Through this scheme, qualified artisans can earn Rs 1 for each eligible digital transaction, capped at 100 qualifying transactions monthly. This is intended to encourage small businesses to adopt digital payments.
Who will get the benefit of PM Vishwakarma Yojana?
The applicant must be at least 18 years of age.
The applicant should be working in any of the 18 traditional occupations included in the scheme.
He should be an artisan or craftsman working with his hands and tools.
He should be doing the relevant work at the time of application.
Only one member from a family can avail the benefit of the scheme.
Government employees and their family members are not eligible for this scheme.
Previously, certain government self-employment loan schemes also have certain rules in place, so it’s important to check your eligibility before applying.
Which 18 works are included in the scheme?
The PM Vishwakarma Yojana covers 18 traditional occupations. These include carpenters, boat builders, traditional weapon makers, blacksmiths, hammer and toolkit makers, locksmiths, goldsmiths, potters, sculptors and stone carvers, cobblers and shoemakers, masons, basket, mat, and broom makers, coir weavers, traditional doll and toy makers, barbers, garland makers, washermen, tailors, and fishing net makers. If you are involved in any of these occupations, you can apply if you meet the other conditions of the scheme.
How to apply?
To register for this scheme, you can visit your nearest Common Service Center (CSC). They can help you complete the application process. The following items may be needed during the application process:
Aadhaar card
Aadhaar linked mobile number
Bank account information
Ration card or family information
Your traditional job description