PM Vishwakarma Yojana

The key PM Vishwakarma Yojana details are given below:

Borrowers will receive a Digital ID, PM Vishwakarma Digital Certificate, and PM Vishwakarma ID Card to get the following benefits under the PM Vishwakarma Yojana Scheme:

• Recognition: Recognition of artisans and craftspeople via PM Vishwakarma certificate and ID card.
• Skill Upgradation: Borrowers will receive basic training of 5 to 7 days and advanced training of 15 days or above, with a stipend of Rs. 500 per day.
• Toolkit Incentive: Under the PM Vishwakarma Yojana 2024 scheme, a toolkit incentive of up to Rs. 15,000 will be available in the form of e-vouchers at the start of Basic Skill Training.
• Credit Support: Collateral-free 'Enterprise Development Loans' of up to Rs. 3 Lakhs in 2 tranches of Rs. 1 Lakh and Rs. 2 Lakhs will be offered with tenures of 18 months and 30 months respectively. The loan will be provided at a concessional interest rate of 5%, with the Government of India subvention to the extent of 8%. Eligible beneficiaries must have completed Basic Training to avail of the first tranche of credit support of up to Rs. 1 Lakh. For the second loan tranche, beneficiaries must have availed of the first tranche, maintained a standard loan account, and have adopted digital transactions in their business or they must have undergone Advanced Training.
• Incentive for Digital Transaction: An amount of Rs. 1 per digital transaction (up to a maximum of 100 transactions monthly) will be credited to the account of the beneficiary for each digital pay-out or receipt.
• Marketing Support: Artisans and craftspeople will also get marketing support in the form of quality certification, branding, onboarding on e-commerce platforms like GeM, advertising, publicity, and other marketing activities to enhance linkage to the value chain.

In addition to the benefits mentioned above, PM Vishwakarma Yojana will onboard the beneficiaries on the Udyam Assist Platform as 'entrepreneurs' in the formal MSME ecosystem. PM Vishwakarma Yojana registration will be done by enrolling beneficiaries through Common Service Centres with Aadhaar-based biometric authentication on PM Vishwakarma's portal. The enrolment will be followed by a three-step verification process which includes Verification at the Gram Panchayat/ULB level, Vetting & Recommendation by the District Implementation Committee, and Approval by the Screening Committee.

The interest rate of Vishwakarma Loan is fixed at 5% p.a. The interest subvention will be to the extent of 8% and paid upfront to the banks by the Ministry of Micro, Small & Medium Enterprises (MoMSME).

No fee is charged to applicants for the Vishwakarma Yojana Loan enrolment process. The entire enrollment cost is covered by CSC, and registration and issuance of certificates or ID cards are borne by the government. Also, there is no prepayment penalty levied after 6 months of loan disbursement.

• The applicant should be an artisan or craftsperson involved in any one of the 18 trades viz. including Carpenter (Suthar/Badhai), Armourer, Boat Maker, Blacksmith (Lohar), Locksmith, Goldsmith (Sonar), Hammer and Tool Kit Maker, Sculptor (Moortikar, Stone Carver), Stone Breaker, Potter (Kumhaar), Cobbler (Charmkar)/ Shoesmith/Footwear Artisan, Mason (Rajmistri), Doll & Toy Maker (Traditional), Basket/Mat/Broom Maker/Coir Weaver, Barber (Naai), Washerman (Dhobi), Garland maker (Malakaar), Tailor (Darzi) and Fishing Net Maker
• The minimum age of the applicant should be 18 years on the registration date.
• The applicant should not have availed any loans under similar Central/State credit-based schemes for either self-employment or business development (for e.g. PM SVANidhi, PMEGP, MUDRA) in the last 5 years. However, if the applicant has availed of MUDRA or SVANidhi schemes and has fully repaid the loans, they can apply for a loan under PM Vishwakarma. The tenure of 5 years is calculated from the date of loan sanction.
• Applicants employed in any Central/State government service and their family members (spouse and unmarried children) are not eligible for this scheme.
• The registration and benefits of the scheme are restricted to only one member of the family.
• Eligible citizens can apply for this scheme until PM Vishwakarma Yojana's last date in 2028 year.
• Trades covered under Vishwakarma Yojana are:
  • Wood Based: Carpenter (Suthar/Badhai) and Boat Maker
  • Iron/Metal Based/Stone Based: Armourer, Blacksmith (Lohar), Hammer and Tool Kit Maker, Locksmith, Sculptor (Moortikar, Stone Carver) and Stone Breaker
  • Gold/Silver Based: Goldsmith (Sonar)
  • Clay Based: Potter (Kumhaar)
  • Leather Based: Cobbler (Charmakar)/Shoesmith/Footwear Artisan
  • Architecture/Construction Based: Masons (Rajmistri)
  • Others: Basket/Mat/Broom Maker/Coir Weaver, Doll & Toy Maker (Traditional), Barber (Naai), Garland Maker (Malakaar), Washerman (Dhobi), Tailor (Darzi) and Fishing Net Maker

• Aadhaar Card
• Bank Account Details (in case of the absence of a bank account, the applicant will be required to open an account first, for which CSC will look after the handholding process)
• Mobile Number
• Ration Card (if a ration card is not available, the Aadhaar number of all their family members has to be provided)

Eligible applicants can complete the registration PM Vishwakarma Yojana online on the PM Vishwakarma registration portal (pmvishwakarma.gov.in) or can visit Common Service Centres (CSCs) for PM Vishwakarma Yojana online apply. It is recommended to apply for PM Vishwakarma Yojana online for faster processing and disbursal.