PM Vishwakarma

PM Vishwakarma is a Central Sector Scheme launched by the Government of India on 17 September 2023 to provide end-to-end support to traditional artisans and craftspeople engaged in identified trades. PM Vishwakarma is implemented as a Central Sector Scheme, fully funded by the Government of India, with an initial outlay of Rs 13,000 crore. The Scheme is conjointly implemented by the Ministry of Micro, Small and Medium Enterprises (MoMSME), the Ministry of Skill Development and Entrepreneurship (MSDE) and the Department of Financial Services (DFS), Ministry of Finance (MoF), Government of India. MoMSME is the Nodal Ministry for the Scheme and Additional Secretary & Development Commissioner (MSME) in Ministry of MSME will be the focal point for all aspects of implementation and coordination. PM Vishwakarma will be initially implemented for five years up to 2027-28.
Objective of the scheme:
Recognition of artisans & craftspeople through PM Vishwakarma certificate & ID Card.
Skill Upgradation to improve their skills and make relevant and suitable training opportunities available to them.
Support for better and modern tools to enhance their capability, productivity, and quality of products.
Easy access to collateral free credit and reduce the cost of credit by providing interest subvention.
Incentives for digital transaction to encourage digital empowerment.
Provides a platform for brand promotion and market linkages to help them access new opportunities for growth.
Key Benefits of the Scheme:
Recognition: Artisans and craftspeople will be recognized as Vishwakarma: PM Vishwakarma Certificate & ID Card
Skill Upgradation: Relevant and suitable training opportunities will be provided to improve their skills.
a. Skill Verification followed by 5-7 days Basic Training
b. 15 days or more Advanced Training
c. Training Stipend: Rs.500/day and TA: Rs.1,000
Toolkit Incentive: Support for better and modern tools, Rs. 15,000 through e-vouchers/e-RUPI will be provided to enhance capability, productivity, and product quality.
Collateral-Free Credit:
(a) Collateral free Enterprise Development Loans:
i. Up-to Rs.1 lakh (1st tranche for 18 months repayment)
ii. Up-to Rs.2 lakh (2nd tranche for 30 months repayment)
(b) Concession Rate of Interest @5%: subject to interest subvention cap up-to 8% by GoI
(c) Credit Guarantee fees to be borne by the GoI.
Digital Empowerment: Incentives for digital transactions will encourage digital empowerment (Re.1/transaction for maximum 100 transactions per month)
Market Linkages: A platform for brand promotion and market linkages will help artisans access new growth opportunities.
Traditional (18) Trades under PM Vishwakarma:
Carpenter
Boat Maker
Armourer
Blacksmith
Hammer and Tool Kit Maker
Locksmith
Sculptor/ Stone Breaker
Goldsmith
Potter
Cobbler Shoesmith/Footwear Artisan
Masons
Basket/ Mat/ Broom Maker/ Coir Weaver
Doll & Toy Maker
Barber
Garland Maker
Washerman
Tailor
Fishing Net Maker
Eligibility for the Scheme
Minimum age 18 years on date of registration under PM Vishwakarma
Beneficiaries should not have availed loans under similar credit-based self-employment/ business development schemes e.g. PMEGP, PM SVANidhi, Mudra, etc. of any GoI or State scheme in the past 5 years (self-declaration, due diligence by banks)
The registration and benefits shall be restricted to one member of the family
A person in government service and her/his family members shall not be eligible