Last updated on January 6th, 2025 at 03:40 pm
The PM Vishwakarma Scheme, launched by the Government of India, is a transformative initiative aimed at supporting traditional artisans and craftsmen. Recognizing their vital contribution to India’s cultural and economic heritage, this scheme is designed to enhance their skills, improve their livelihood, and promote sustainable development.
What is the PM Vishwakarma Scheme?
The PM Vishwakarma Scheme is a government program that provides financial support, skill training, and modern tools to artisans and craftsmen who are integral to India’s traditional industries. The scheme primarily targets those who work in handicrafts, handlooms, pottery, carpentry, blacksmithing, and other similar professions.
Target Borrowers
The scheme targets artisans and craftspeople engaged in trades such as:
- Carpenter (Suthar)
- Boat Maker
- Armourer
- Blacksmith (Lohar)
- Hammer and Tool Kit Maker
- Locksmith
- Sculptor (Moortikar, Stone Carver)
- Stone Breaker
- Goldsmith (Sunar)
- Potter (Kumhaar)
- Cobbler
Purpose
To meet business requirements as per identified customers in the form of collateral-free “Enterprise Development Loans.”
Quantum of Loan
- Total Quantum of the loan: Rs 3,00,000/-
- First Loan Tranche: Up to Rs 1,00,000/-
- Second Loan Tranche: Up to Rs 2,00,000/-
Eligibility
- The minimum age of the beneficiary should be 18 years.
- The beneficiary should be engaged in the trades concerned on the date of registration.
- Should not have availed loans under similar credit-based schemes of the Central Government or State Government for self-employment/business development in the past 5 years.
- Beneficiaries will be eligible for the first loan tranche upon completion of 5 days of Basic Skill Training provided by MSDE under PM Vishwakarma. The second loan shall not be granted before six months of the disbursement of the first tranche loan.
Repayment
- 1st Tranche repayable in 18 monthly instalments
- 2nd Tranche repayable in 30 monthly instalments
Security
- Secured (Graded coverage under CGTMSE)
- Hypothecation of stock and/or machinery created out of Bank’s finance
- Collateral Security: NIL
- Third Party Guarantee: NIL
Scheme Guidelines
- Artisans and craftspeople will receive a PM Vishwakarma certificate and PM Vishwakarma ID card digitally as well as in physical form.
- Basic training will be of 40 hours over 5-7 days as part of the 1st Tranche. Advanced training will be of 120 hours for 15 days as part of the 2nd Tranche.
- MoMSME, in association with CSCs (Common Service Centres), identifies the beneficiaries.
- The registration and benefits under the scheme shall be restricted to one member of the family.
- A toolkit incentive of up to Rs 15,000/- will be provided to the beneficiary.
- No prepayment penalty shall be charged from artisans and craftspeople after 6 months of loan disbursement.
- Each beneficiary shall be eligible to receive a training stipend of Rs 500/- per day by the central government.
Objectives of the Scheme
The main goals of the PM Vishwakarma Scheme are:
- Skill Development: To provide artisans with advanced training to improve their craft.
- Financial Support: To offer low-interest loans and financial aid for setting up or expanding their businesses.
- Modernization: To supply modern tools and equipment that help enhance productivity and quality.
- Market Linkage: To connect artisans with wider markets through online platforms and trade fairs.
- Preservation of Heritage: To safeguard traditional skills and ensure their continuation for future generations.
Key Features of the Scheme
- Financial Assistance: The scheme offers loans up to Rs. 3 lakh at subsidized interest rates to help artisans grow their businesses.
- Skill Training: Free training programs are provided to upgrade skills and introduce artisans to modern techniques.
- Toolkits and Equipment: Beneficiaries receive free or subsidized modern tools to enhance their efficiency.
- Recognition and Certification: Artisans are given certificates to authenticate their skills and improve their credibility.
- Market Access: Support is provided to showcase and sell products through e-commerce platforms and exhibitions.
Who Can Apply?
The scheme is open to individuals engaged in traditional crafts and trades. Eligible applicants must meet the following criteria:
- Be a practicing artisan or craftsman.
- Belong to an economically weaker section.
- Possess basic knowledge or experience in their craft.
How to Apply?
- Visit the official PM Vishwakarma Scheme website or your nearest Common Service Center (CSC).
- Fill out the application form with required details.
- Submit proof of identity, address, and evidence of your craft or trade.
- Await approval and further instructions from authorities.
Benefits for Artisans
- Improved income through better skills and modern tools.
- Access to wider markets and more customers.
- Preservation of traditional crafts and cultural heritage.
- Enhanced social recognition and economic stability.
Why is this Scheme Important?
Traditional artisans and craftsmen have long been the backbone of India’s cultural identity. However, many face challenges such as low income, lack of resources, and limited market access. The PM Vishwakarma Scheme addresses these issues, empowering artisans to thrive in a modern economy while preserving their invaluable heritage.
Conclusion
The PM Vishwakarma Scheme is a beacon of hope for millions of traditional artisans across India. By offering financial aid, skill development, and market opportunities, the scheme not only uplifts their livelihoods but also ensures the continuity of India’s rich cultural legacy. If you are a traditional artisan, don’t miss the chance to benefit from this remarkable initiative!