Vishwakarma Yojana A Scheme to Empower Artisans and Craftspeople

Prime Minister Narendra Modi on 17.09.2023 launched the 'PM Vishwakarma' scheme for the benefit of traditional artisans.

The 'PM Vishwakarma' scheme will offer traditional artisans a loan of up to ₹3 lakhs without requiring any bank guarantee.

The scheme has been designed to ensure that the interest rate remains affordable for the artisans, further facilitating their financial stability and growth in their respective crafts. 

The government has made a decision to grant an initial loan of 1 lakh to Vishwakarma partners. Once this initial loan is repaid, the government will provide an additional loan of 2 lakhs to further support & empower them.

The 'PM Vishwakarma' scheme will be completely funded by the Union government, with a substantial budget allocation of ₹13,000 crore.

Prospective beneficiaries will have the opportunity to register at no cost through common services centers, using the biometric-based PM Vishwakarma portal.

In the first year, five lakh families will be covered and a total of 30 lakh families will be covered over five years from FY24 to FY28.

Initially, 18 traditional trades will be covered. These include carpenter (Suthar); boat maker; armourer; blacksmith; hammer and tool kit maker; locksmith; goldsmith; potter (Kumhaar); sculptor, stone breaker; cobbler; mason; basket/mat/broom maker/coir weaver; doll and toy maker (traditional); barber; garland maker; washerman; tailor ; and fishing net maker.

Beneficiaries of the scheme will receive recognition through the issuance of a PM Vishwakarma certificate and ID card. Moreover, they will have access to skill enhancement opportunities. 

Beneficiaries will be given a toolkit incentive of ₹15,000, collateral-free credit support up to ₹1 lakh (first tranche) and ₹2 lakh (second tranche) at a concessional interest rate of 5 %.