PM Vishwakarma Yojana provides financial assistance and training to small craftsmen and artisans. Under this, an unsecured loan of up to Rs 3 lakh is available at an interest rate of 5%. The scheme includes free skill training, Rs 500 per day stipend, Rs 15000 tool kit assistance and reward on digital transactions. For eligibility, it is necessary to be associated with traditional business.
Many small businessmen and craftsmen of the country want to expand their work. But, they face the problem of capital. To help them, the central government has a special scheme, Pradhan Mantri Vishwakarma Yojana. In this, a loan of up to Rs 3 lakh is available at an interest rate of just 5 percent. For this you do not even need to mortgage anything.
What is PM Vishwakarma Yojana
PM Vishwakarma Yojana is an ambitious scheme of the central government. Its purpose is to provide financial assistance and training to small craftsmen and artisans. It was started on 1 February 2023. Under this scheme, free skill training and loan is given at affordable interest for employment. In this, Rs 500 is given daily during training. Also, an amount of Rs 15,000 is given through bank transfer to buy tool kit. This scheme is being run by the Ministry of Micro, Small and Medium Enterprises (MSME).
What are the benefits of PM Vishwakarma Yojana?
- Beneficiaries joining PM Vishwakarma Yojana get many benefits.
- Beneficiaries will be given basic training of 5-7 days (40 hours).
- After this, advanced training of 15 days (200 hours) will also be given.
- During training, ₹500 per day stipend will be given.
- ₹15,000 assistance will be given to buy tool kit.
- For doing 100 digital transactions, a reward of ₹1 per transaction will also be given.
Easy loan up to Rs 3 lakh
Under the PM Vishwakarma Yojana, beneficiaries get a total loan of Rs 3 lakh. This amount is given in two phases. In the first phase, a loan of up to Rs 1 lakh is available, the duration of which will be 18 months. In the second phase, a loan of up to Rs 2 lakh is available, the duration of which will be 30 months. A concessional interest rate of only 5% will be applicable on this loan.
People associated with which professions are eligible?
People associated with 18 traditional occupations can apply under the Pradhan Mantri Vishwakarma Yojana, such as:
- Carpenters, boat builders
- Blacksmiths, locksmiths
- Goldsmiths, sculptors
- Masons, fishermen
- Washermen, tailors, barbers
- Toy makers, potters
- Shoe makers, basket/mat/broom makers
Eligibility for the scheme
- The applicant must be engaged in any one of the 18 traditional occupations listed.
- The applicant must be 18 years of age or above.
- He should not already be a beneficiary of other schemes like PMEGP, PM Swanidhi, Mudra Loan.
- Government employees and their family members will not be eligible for this scheme.
How to apply for PM Vishwakarma Yojana?
- To avail the benefits of this scheme, apply online at pmvishwakarma.gov.in.
- Complete Aadhaar card verification and e-KYC.
- Get verification done from the concerned CSC center.
- Download digital certificate and identity card.
- After filing the application, the verification process will be completed in three stages. After that the applicants will get the benefit.
