PM Vishwakarma Yojana

What Is PM Vishwakarma Yojana?

PM Vishwakarma Yojana (also known as PM Vishwakarma Kaushal Samman) offers easy access to collateral free credit of up to Rs 3 lakh at an interest rate of 5% p.a. for 4 years. This is a central sector scheme launched by MoMSME (Ministry of Micro, Small and Medium Enterprises), which offers services like market linkage support, skill training, incentive for digital transactions to artisans and craftspeople engaged in specified trades. After successful verification and approval process, the applicants will be registered under the PM Vishwakarma scheme as Vishwakarmas.

Eligibility of PM Vishwakarma Yojana

• The applicant should be an artisan or craftsperson engaged in any one of the 18 specified family-based traditional trades (mentioned below) in the unorganized/informal sector, on a self-employment basis
• The minimum age of an applicant should be 18 years on the date of registration
• The applicant should not have availed loans under similar central/state credit-based schemes for self-employment or business development, e.g. PM SVANidhi, PMEGP, MUDRA, in the past 5 years. However, the applicants of MUDRA and SVANidhi who have fully repaid their loans can apply for a loan under PM Vishwakarma. The 5 years is calculated from the date of loan sanction.
• An applicant employed in any government service (Central/State) and his/her family members (spouse and their unmarried children) are not eligible for the scheme
• The registration and benefits of this scheme are restricted to only one member of the family

Loan amount & Repayment Tenure of PM Vishwakarma Yojana

Tranche	Loan Amount	Repayment Tenure
1st Tranche	Up to Rs 1 lakh	18 months
2nd Tranche	Up to Rs 2 lakh	30 months

PM Vishwakarma Yojana Benefits

Borrowers will get a Digital ID, PM Vishwakarma Digital Certificate and PM Vishwakarma ID Card to avail of the following benefits under this scheme:

Skill Upgradation

The PM Vishwakarma Kaushal Samman scheme offers training programs to borrowers at vocational training centres. The borrower will receive a training stipend (Rs 500/day) after the completion of 5-7 days of basic training into the Aadhaar linked bank account through DBT (Direct Benefit Transfer). Interested candidates can also apply for Advanced Training for 15 days at designated training centers. During the training period, board and lodging will be provided free of charge.

Toolkit Incentive

The scheme offers toolkit incentives of up to Rs 15,000 to the borrowers who have taken Skill Assessment under the ‘Skill Upgradation’. The incentive amount is offered through e-RUPI/e-vouchers for the purchase of improved tools from designated centres.

Access to Affordable Credit

The scheme offers collateral-free loans to all eligible applicants. Even individuals having no credit history can avail loan under this scheme.

Trades covered under Vishwakarma Yojana

• Wood Based

  • Carpenter (Suthar/Badhai)
  • Boat Maker

• Iron/Metal Based/Stone Based

  • Armourer
  • Blacksmith (Lohar)
  • Hammer and Tool Kit Maker
  • Locksmith
  • Sculptor (Moortikar, Stone Carver)
  • Stone Breaker

• Gold/Silver Based

  • Goldsmith

• 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)
  • Fishing Net Maker

Fees & Charges of PM Vishwakarma Yojana

No fee is charged from the applicant for the enrolment process. The entire cost of enrolment done through CSC, registration and issue of certificate or ID card is borne by the Government. Also, no prepayment penalty is charged after 6 months of loan disbursement

Documents Required for PM Vishwakarma Yojana

• Aadhaar Card
• Mobile Number
• Bank Account Details
• Ration Card (In case the applicants do not have a ration card, they will have to provide the Aadhaar number of all their family members)
• If case of the absence of a bank account, an applicant will be first required to open an account for which CSC will look after the handholding process