PM Vishwakarma Scheme 2024: Benefits, Eligibility Criteria, How to Apply?
PM Vishwakarma Scheme
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PM Vishwakarma Scheme | PM Vishwakarma Yojana: is a Central Sector Scheme launched by Ministry of Micro, Small and Medium Enterprises to provide holistic and end-to-end support to artisans and craftspeople through access to collateral free credit, skill training, modern tools, incentive for digital transactions and market linkage support.
This Yojana is to support unorganized sector in India, traditional craftspeople, small businesses and local artisans throughout the nation by providing them financial aid at low-interest rate. This scheme is aims to provide training, methodology, stipends and skill mentoring along with financial aid to local artisans and craftsmen.
Category of Trades Covered Under PM Vishwakarma Scheme
Carpenter (Suthar)
Boat Maker
Armourer
Blacksmith (Lohar)
Hammer and Tool Kit Maker
Locksmith, Goldsmith (Sunar)
Potter (Kumhaar)
Sculptor (Moortikar)/ stone carver / Stone breaker
Cobbler (Charmkar)/ Shoesmith/ Footwear artisan
Mason (Raajmistri)
Basket Maker/ Basket Waver: Mat maker/ Coir Weaver/ Broom maker
Doll & Toy Maker (Traditional)
Barber (Naai)
Garland Maker (Malakaar)
Washerman (Dhobi)
Tailor (Darzi)
Fishing Net Maker
PM Vishwakarma Scheme: Objectives
To enable the recognition of artisans and craftspeople as Vishwakarma making them eligible to avail all the benefits under the Scheme.
To provide skill up-gradation to hone their skills and make relevant and suitable training opportunities available to them.
To provide support for better and modern tools to enhance their capability, productivity, and quality of products.
To provide the intended beneficiaries easy access to collateral-free credit and reduce the cost of credit by providing interest subvention.
To provide incentives for digital transactions to encourage the digital empowerment of these Vishwakarmas.
To provide a platform for brand promotion and market linkages to help them access new opportunities for growth.
PM Vishwakarma Scheme 2023: Benefits
Benefits:
Recognition: Recognition as Vishwakarma through Certificate and ID Card
Skilling:
Skill Verification followed by 5-7 days (40 hours) of Basic Training
Interested candidates can also enroll for 15 days (120 hours) of Advanced Training
Training Stipend: ₹ 500 per day
Toolkit Incentive: ₹ 15,000 grant
Credit Support:
Collateral-free Enterprise Development Loans: ₹ 1,00,000 (First Tranche for 18 months repayment) & ₹ 2,00,000 (Second Tranche for 30 months repayment)
Concessional Rate of Interest: 5% to be charged from the beneficiary with an Interest Subvention cap of 8% to be paid by MoMSME
Credit Guarantee fees to be borne by GoI
Incentive for Digital Transaction: ₹ 1 per transaction for a maximum of up to 100 transactions (monthly)
Marketing Support: The National Committee for Marketing (NCM) will provide services such as Quality Certification, Branding and Promotion, e-commerce Linkage, Trade Fair Advertising, Publicity and Other Marketing Activities.
NOTE: Notification to beneficiaries on disbursement of incentives will be done through SMS.
PM Vishwakarma Scheme: Eligibility Criteria
To be eligible for the PM Vishwakarma Scheme, the applicant must meet the following criteria:
The applicant should be an artisan or craftsperson working with hands and tools.
The applicant should be engaged in an unorganized sector on a self-employment basis.
The applicant should be engaged in one of the 18 family-based traditional trades mentioned in the scheme.
On the date of registration for the scheme, the minimum age of the applicant should be 18 years.
The applicant should be engaged in the concerned trade on the date of registration.
The applicant should not have availed loans under similar credit-based schemes of the Central Government or State Government for self-employment/ business development, e.g. PMEGP, PM SVANidhi, Mudra, in the past 5 years.
The registration and benefits under the Scheme shall be restricted to one member of the family.
PM Vishwakarma Scheme: Documents Required
Required documents or information:
Aadhaar,
Mobile number,
Bank details,
Ration card
Email ID
PM Vishwakarma Scheme: Implementing Agencies
The scheme is conjointly implemented by the following Ministries/Departments:
Ministry of Micro, Small and Medium Enterprises (MoMSME)
Ministry of Skill Development and Entrepreneurship (MSDE)
Department of Financial Services (DFS)
Ministry of Finance (MoF)
PM Vishwakarma Yojana Registration The Registration for PM Vishwakarma Yojana commenced on September 17th, 2023 in Online mode. For registration, the government designated common service centres in villages to ensure that talented craftspeople and artisans from throughout the country can access and be part of the initiative.
PM Vishwakarma Yojana Registration
PM Vishwakarma Yojana Registration Starting Date
17th September, 2023
PM Vishwakarma Yojana Registration by Official Website
Check step by step information on how to apply PM Vishwakarma Yojana using the official website pmvishwakama.gov.in
Open the PM Vishwakarma Yojana Official Portal 2023 i.e pmvishwakarma.gov.in.
Create an account or enter your existing credentials.
Register with Aadhar Card and mobile number.
Fill out the personal information in the registration form.
Download the Digital ID and Certificate created for future use.
Select the required scheme components and upload the necessary document.
Check the Application Form for review to revise the application.
Submit the application form.
A message or email of approval will be sent by the government, once all the information is verified. Government authorities to review the application, may conduct field visits or interviews to verify the eligibility and the authenticity of the craft of the applicant. Thereby, if the application is approved, the applicant will receive the benefits outlined in the scheme.
FAQ
What is Pradhan Mantri Vishwakarma Scheme?
PM Vishwakarma is a Central Sector Scheme launched by Ministry of Micro, Small and Medium Enterprises to provide holistic and end-to-end support to artisans and craftspeople through access to collateral free credit, skill training, modern tools, incentive for digital transactions and market linkage support.
Which category of trades are covered in the scheme?
Carpenter (Suthar), Boat Maker, Armourer, Blacksmith (Lohar), Hammer and Tool Kit Maker, Locksmith, Goldsmith (Sunar), Potter (Kumhaar), Sculptor (Moortikar)/ stone carver / Stone breaker, Cobbler (Charmkar)/ Shoesmith/ Footwear artisan, Mason (Raajmistri), Basket Maker/ Basket Waver: Mat maker/ Coir Weaver/ Broom maker, Doll & Toy Maker (Traditional), Barber (Naai), Garland Maker (Malakaar), Washerman (Dhobi), Tailor (Darzi) and Fishing Net Maker.
What are the key components of PM Vishwakarma?
The key components of PM Vishwakarma Scheme are: 1. Recognition: PM Vishwakarma Certificate and ID Card 2. Skill Upgradation 3. Toolkit Incentive 4. Credit Support 5. Incentive for Digital Transactions 6. Marketing Support.
What are the eligibility criteria of the Scheme?
– The applicant should be an artisan or craftsperson working with hands and tools. – The applicant should be engaged in an unorganized sector on a self-employment basis. – The applicant should be engaged in one of the 18 family-based traditional trades mentioned in the scheme. – On the date of registration for the scheme, the minimum age of the applicant should be 18 years. – The applicant should be engaged in the concerned trade on the date of registration. – The applicant should not have availed loans under similar credit-based schemes of the Central Government or State Government for self-employment/ business development, e.g. PMEGP, PM SVANidhi, Mudra, in the past 5 years. – The registration and benefits under the Scheme shall be restricted to one member of the family.
How to avail benefits under the Scheme ?
Any individual willing to avail the benefits of the Scheme, may register on the portal pmvishwakarma.gov .in.
Which documents are required to be provided during registration on PM Vishwakarma portal?
– Aadhaar – Mobile number – Bank details – Ration card
What is the amount of initial loan under the scheme?
The initial collateral free ‘Enterprise Development Loan’ is up to Rs 1,00,000 for a tenure of 18 months.
When will an applicant become eligible for the second tranche of a loan under the PM Vishwakarma scheme if they have already utilized the first tranche of the loan?
The second Loan Tranche of upto Rs. 2,00,000/- will be available to skilled beneficiaries who maintain a standard loan account and have adopted digital transactions in their business or have undergone Advanced Skill Training.
Do applicant need to give any collateral to avail loan facility under this scheme?
No collateral security is required.
What is the rate and amount of interest subvention in the scheme?
Concessional rate of interest chargeable from beneficiaries for loans will be fixed at 5%. The interest subvention by the Government of India will be to an extent of 8% and provided upfront to the banks.