The PM Vishwakarma Yojana is a central government scheme launched to support traditional artisans and craftspeople across India. The scheme focuses on strengthening grassroots entrepreneurs by providing financial assistance, skill training, digital support, and market access.
For MSMEs and micro-entrepreneurs working in traditional sectors, PM Vishwakarma can be a powerful growth opportunity.
In this guide, we explain eligibility, benefits, loan structure, and how MSMEs can leverage this scheme.
What is PM Vishwakarma Yojana?
PM Vishwakarma Yojana is a Central Sector Scheme aimed at providing end-to-end support to traditional artisans and craftspeople. It recognizes Vishwakarmas as skilled individuals engaged in traditional occupations and helps them upgrade skills, tools, and business operations.
The scheme is implemented through the Ministry of MSME and provides support in five major areas:
- Skill Upgradation
- Toolkit Incentives
- Collateral-Free Credit
- Digital Transaction Incentives
- Market Linkage Support
Who is Eligible for PM Vishwakarma Yojana?
The scheme targets individuals engaged in traditional trades such as:
- Carpenter
- Blacksmith
- Goldsmith
- Cobbler
- Potter
- Tailor
- Barber
- Mason
- Boat Maker
- Toy Maker
- Washerman
- Fishing Net Maker
- Basket/Mat/Broom Maker
- And other notified trades
Basic Eligibility Criteria:
- Must be engaged in traditional occupation
- Must be 18 years or above
- Should be self-employed
- Only one member per family eligible
- Not a beneficiary of similar credit-linked subsidy schemes (PMEGP, PM SVANidhi, MUDRA) in the last 5 years.
For MSMEs operating as micro enterprises in traditional sectors, this scheme can directly support business expansion.
Key Benefits for MSMEs and Artisans
The scheme isn’t just a loan program; it is a business incubation cycle.
- Official Recognition: Upon registration, you receive a PM Vishwakarma Certificate and ID Card, providing you with a formal identity as a recognized entrepreneur.
- Skill Upgradation: * Basic Training: 5–7 days (40 hours) to modernize your techniques.
- Advanced Training: 15 days for those looking to specialize further.
- Stipend: You earn ₹500 per day while you learn, ensuring no loss of income during the training period.
- Toolkit Incentive: Post-training, beneficiaries receive a ₹15,000 e-voucher or grant to purchase modern, high-quality tools that enhance productivity.
- Collateral-Free Credit Support: Access “Enterprise Development Loans” at a concessional interest rate of 5%:
- First Tranche: Up to ₹1,00,000 (18-month repayment).
- Second Tranche: Up to ₹2,00,000 (30-month repayment).
- Marketing & Digital Incentives: The government provides support for branding, GeM (Government e-Marketplace) onboarding, and a ₹1 incentive per digital transaction (up to 100 per month) to encourage a cashless business model.
How to Apply in PM Vishwakarma Yojana: A Step-by-Step Guide
The registration process is entirely free and can be done at any Common Service Centre (CSC).
- Biometric Authentication: Visit your nearest CSC for Aadhaar-based biometric verification.
- Registration: Fill out the online form on the official PM Vishwakarma portal.
- Three-Step Verification: * Level 1: Gram Panchayat or ULB verification.
- Level 2: Vetting by the District Implementation Committee.
- Level 3: Final approval by the Screening Committee.
- Disbursal: Once approved, your certificate is issued, and training/credit benefits begin.
PM Vishwakarma Yojana – FAQs
1️⃣ What is PM Vishwakarma Yojana?
PM Vishwakarma Yojana is a central government scheme that supports traditional artisans and craftspeople in India. It provides skill training, toolkit incentives, collateral-free loans at 5% interest, digital payment incentives, and marketing support to help small businesses grow.
2️⃣ Who is eligible for PM Vishwakarma scheme?
Any individual aged 18 years or above who is engaged in a notified traditional trade and is self-employed can apply. Only one member per family is eligible. The applicant should not already be benefiting from similar government credit-linked subsidy schemes.
3️⃣ What is the loan amount under PM Vishwakarma?
Under PM Vishwakarma, eligible beneficiaries can get up to ₹3 lakh in two stages. The first loan is up to ₹1 lakh, and the second loan is up to ₹2 lakh. The interest rate is 5%, and no collateral is required.
4️⃣ What is the interest rate for PM Vishwakarma loan?
The interest rate under PM Vishwakarma Yojana is 5% per annum. The government provides interest subvention, making it much cheaper compared to regular business loans from banks.
5️⃣ Is collateral required for PM Vishwakarma loan?
No, the PM Vishwakarma loan is completely collateral-free. Beneficiaries do not need to provide property or asset security to avail the loan amount.
6️⃣ How can I apply for PM Vishwakarma Yojana?
You can apply through the official PM Vishwakarma portal or visit your nearest Common Service Centre (CSC). Aadhaar verification is mandatory, and you need a bank account and mobile number linked with Aadhaar.
7️⃣ Which trades are covered under PM Vishwakarma?
The scheme covers traditional trades such as carpenters, blacksmiths, goldsmiths, potters, tailors, cobblers, barbers, masons, washermen, toy makers, basket makers, and other notified artisan categories.
8️⃣ Does PM Vishwakarma provide training?
Yes, the scheme provides basic and advanced skill training. Beneficiaries also receive a daily stipend during the training period to compensate for income loss.
9️⃣ What is the toolkit incentive under PM Vishwakarma?
Eligible beneficiaries receive financial assistance to purchase modern tools and equipment. This helps artisans improve productivity, product quality, and income generation.
🔟 Is PM Vishwakarma different from PM Mudra Yojana?
Yes, PM Vishwakarma specifically targets traditional artisans and provides skill training and toolkit support along with loans. PM Mudra offers loans to all types of micro businesses but does not include structured training or toolkit incentives.
1️⃣1️⃣ Can existing MSMEs apply for PM Vishwakarma?
Yes, micro enterprises engaged in eligible traditional trades can apply if they meet the scheme criteria. The business should be self-owned and fall within the notified artisan categories.
1️⃣2️⃣ How does PM Vishwakarma help small businesses grow?
PM Vishwakarma helps small businesses by offering low-interest loans, skill upgradation, digital payment incentives, and marketing support. It helps informal artisans transition into formal micro-enterprises.