The PM Vishwakarma Yojana is a new initiative by the Indian government aimed at empowering artisans and craftsmen across the country. Offering loans without the need for collateral, this scheme is designed to help skilled workers expand their businesses and improve their income. With over 2.5 crore applicants already registered, this scheme has generated considerable interest. Here’s a comprehensive look at the PM Vishwakarma Yojana, its benefits, eligibility requirements, and how artisans can apply to get financial support.
What is PM Vishwakarma Yojana?
The PM Vishwakarma Yojana is a government-backed scheme introduced to provide financial support to artisans and skilled workers, allowing them to grow their businesses through easy, low-interest loans. The scheme primarily benefits traditional craftsmen and artisans such as carpenters, blacksmiths, goldsmiths, and several others in trades that often lack access to formal financial support.
The scheme aims to address the challenges faced by these workers by providing collateral-free loans and tools that can help them expand their work, enhance productivity, and improve livelihood opportunities.
Key Benefits of PM Vishwakarma Yojana
- Collateral-Free Loans: Artisans can access loans without any collateral, up to Rs.3 lakh, with a low-interest rate of 5%.
- Toolkit Voucher: Registered applicants are eligible for a Rs.15,000 toolkit voucher to purchase tools relevant to their trade, aiding in productivity enhancement.
- Training Program: Beneficiaries receive skill training to improve their technical and business skills, which is organized at tehsil or district headquarters. They are also provided with a daily allowance of Rs.500 during the five-day training period.
- Digital Incentives: To promote cashless transactions, artisans can earn Rs.1 per transaction for up to 100 transactions per month, encouraging digital payment adoption.
- Increased Loan Amounts: Artisans start with a loan of Rs.1 lakh. After 18 months of timely repayments, they are eligible for an additional Rs.2 lakh, allowing them to expand further.
These benefits make the scheme highly attractive for those in the traditional crafts sector who often face challenges in accessing formal financial support.
Eligibility Criteria for PM Vishwakarma Yojana
To qualify for the PM Vishwakarma Yojana, applicants must meet these conditions:
- Indian Citizenship: The applicant should be an Indian citizen.
- Minimum Age Requirement: The minimum age to apply is 18 years.
- Exclusions: Applicants should not already be benefiting from similar government schemes such as PMEGP (Pradhan Mantri Employment Generation Programme), PM SVANidhi, or the Mudra Loan Scheme.
Required Documents for Application
To complete the registration process for PM Vishwakarma Yojana, artisans will need the following documents:
- Aadhar Card: To verify identity and nationality.
- Address Proof: Document proving current residential address.
- Bank Account Details: A bank account passbook is required for financial transactions.
- Caste Certificate: If applicable, to ensure equitable distribution of benefits.
- Passport-Sized Photograph: For identification purposes.
- Mobile Number: Needed for OTP verification during registration.
These documents ensure that all beneficiaries are genuine artisans and meet the scheme’s eligibility requirements.
List of Eligible Trades
The scheme is targeted toward a variety of traditional professions. Here’s a list of the eligible trades:
- Woodwork: Carpenters and woodworkers.
- Metal Work: Blacksmiths, gunsmiths, locksmiths, hammer manufacturers.
- Jewelry: Goldsmiths.
- Construction: Masons and stone sculptors.
- Personal Services: Barbers, washermen, cobblers.
- Handicrafts: Doll and toy makers, basket weavers, and mat/broom makers.
- Fishing Equipment: Fishing net manufacturers.
- Miscellaneous: Tailors, boat builders, and others involved in traditional crafts.
Each of these professions plays a crucial role in local economies, often carrying forward cultural traditions.
Financial Assistance Process Under the Scheme
- Initial Loan: Beneficiaries receive an initial loan of Rs.1 lakh. The loan comes with a low 5% interest rate, making it affordable for artisans.
- Second Loan Opportunity: After successful repayment of the first loan over 18 months, artisans become eligible for a second loan of Rs.2 lakh to further grow their businesses.
- Toolkit Support: The Rs.15,000 toolkit voucher is provided upon registration. This voucher can only be used for purchasing tools and equipment related to the artisan’s trade.
- Training and Allowance: A five-day training session is provided to equip artisans with new skills. A daily allowance of Rs.500 is given during this period to help with any expenses.
- Digital Incentives: Digital transactions are encouraged, with a reward of Rs.1 per transaction (up to 100 transactions per month), promoting a shift to cashless payments.
How to Apply for PM Vishwakarma Yojana
Applying for the PM Vishwakarma Yojana is straightforward and can be done through the official portal or by visiting a local Common Service Centre (CSC).
- Visit the Portal: Go to pmvishwakarma.gov.in to start the application process.
- Register with Mobile and Aadhar: Use your mobile number and Aadhar card for OTP verification. This helps secure the registration process.
- Complete the Registration Form: Fill in all details, including your trade, name, address, and other required information.
- Upload Documents: Upload necessary documents such as Aadhar, address proof, and bank details. These documents are verified by the relevant authorities to confirm eligibility.
- Download Digital ID: Once registered, you will receive a PM Vishwakarma Digital ID and certificate, which serves as proof of your eligibility and registration.
- Loan Approval: Once all details are verified, your loan will be processed and, upon approval, disbursed through financial institutions like commercial banks and regional rural banks.
Helpline Numbers
For any queries or assistance regarding PM Vishwakarma Yojana, applicants can contact the customer care helpline numbers:
- 18002677777
- 17923
- 011-23061574
These numbers provide support and guidance to artisans who may have questions about eligibility, application, or loan disbursement processes.
The PM Vishwakarma Yojana represents a valuable opportunity for artisans to access financial support, gain new skills, and enhance their productivity. By simplifying access to loans, training, and tools, the government aims to uplift traditional crafts and trades across India.
