PM Vishwakarma Yojana 2024-:PM Vishwakarma Yojana (also referred to as PM Vishwakarma Kaushal Samman) provides an easy way to get collateral-free credit up to 3 lakh with 5 percent p.a. for four years. It is a central sector program that was launched in 2004 by MoMSME (Ministry of Micro Small and Medium-sized Enterprises) that provides services such as market linkage support and skill-training, as well as incentives for digital transactions for craftsmen and artisans who are engaged in specific trades. After the successful verification and approval process the applicants will then be accepted in the PM Vishwakarma plan as Vishwakarmas.
About PM Vishwakarma Yojana 2024
A large portion of the population of the Indian economy is comprised of craftspeople and artisans who employ their hands and tools. They generally self-employed, and are generally regarded as a part of the unorganized or informal part of our economy. These craftspeople and artisans of the past are known as “Vishwakarmas” and work in jobs such as Blacksmiths, Carpenters, Goldsmiths and sculptors, among others. These skills or occupations are passed from generation-to-generation following a guru-shishya model of traditional training, both within the families and other informal groups of artisans and craftspeople.
In this context the new scheme named “PM Vishwakarma The scheme aims to improve the quality and the availability of the goods and services offered by artisans and craftspeople, and to ensure that Vishwakarmas integrate into value chains that are both global and domestic. The aim of the Scheme to provide an all-encompassing, end-to-end service to Vishwakarmas. Vishwakarmas, i.e. craftsmen and artisans so that they can advance up the value chain within their respective professions. It will lead to a qualitative change in the way that these jobs are carried out by craftspeople and artisans and will improve their social-economic standing and their standard of living.
PM Vishwakarma will be implemented as an Central Sector Scheme, fully supported from the Government of India, with an initial investment in the amount of 13,000 crore rupees.
This Scheme is jointly carried out by Ministry of Micro, Small and Medium Enterprises (MoMSME) and The Ministry of Skill Development and Entrepreneurship (MSDE) as well as The Department of Financial Services (DFS), Ministry of Finance (MoF), Government of India.
MoMSME is MoMSME will be Nodal Ministry for the Scheme and the Additional Secretary and Development Director (MSME) in the Ministry of MSME will serve as the central point for every aspect of implementation and coordination. [Email: dcmsme@nic.in ; Tel: 011-23061176]
PM Vishwakarma will be in the beginning in place for five years, up 2027-28.
Objective PM Vishwakarma Yojana 2024
- To recognize artisans and craftsmen as Vishwakarma and thereby allowing them to receive all benefits offered by the scheme.
- * To help them upgrade their skills to help them improve their skills, and to make appropriate and relevant training opportunities accessible to the students.
- * To support new and more efficient tools that improve their capabilities, efficiency and the quality of their goods and services.
- * To offer beneficiaries with an ease of access to collateral-free credit, and to reduce costs of borrowing through the provision of interest subvention.
- * To offer incentives to digital transactions in order to promote the digital development of Vishwakarmas.
- * To offer an opportunity for brand promotion and market connections to enable them to access new opportunities to grow.
Trades Covered Under PM Vishwakarma Yojana 2024
Wood Based
- Carpenter (Suthar/Badhai)
- Boat Maker
Iron/Metal Based/Stone Based
- Armourer
- Blacksmith (Lohar)
- Hammer and Tool Kit Maker
- Locksmith
- Sculptor (Moortikar, Stone Carver)
- Stone Breaker
Gold/Silver Based
- Goldsmith (Sonar)
Clay Based
- Potter (Kumhaar)
Leather Based
- Cobbler (Charmakar)/Shoesmith/Footwear Artisan
Architecture/Construction Based
- Masons (Rajmistri)
Others
- Basket/Mat/Broom Maker/Coir Weaver
- Doll & Toy Maker (Traditional)
- Barber (Naai)
- Garland Maker (Malakaar)
- Washerman (Dhobi)
- Tailor (Darzi)
- Fishing Net Maker
Benefits Under PM Vishwakarma Yojana 2024
PM Vishwakarma is a holistic Scheme that envisages to provide end-to-end support to the artisans and craftspeople through the following components:
a. Recognition: PM Vishwakarma Certificate and ID Card
b. Skill Upgradation
c. Toolkit Incentive
d. Credit Support
e. Incentive for Digital Transactions
f. Marketing Support
Loan amount & Repayment Tenure of PM Vishwakarma Yojana 2024
| Tranche | Loan Amount | Repayment Tenure |
| 1st Tranche | Up to Rs 1 lakh | 18 months |
| 2nd Tranche | Up to Rs 2 lakh | 30 months |
Eligibility of PM Vishwakarma Yojana 2024
- The applicant should be an artisan or craftsperson engaged in any one of the 18 specified family-based traditional trades (mentioned below) in the unorganized/informal sector, on a self-employment basis
- The minimum age of an applicant should be 18 years on the date of registration
- The applicant should not have availed loans under similar central/state credit-based schemes for self-employment or business development, e.g. PM SVANidhi, PMEGP, MUDRA, in the past 5 years. However, the applicants of MUDRA and SVANidhi who have fully repaid their loans can apply for a loan under PM Vishwakarma. The 5 years is calculated from the date of loan sanction.
- An applicant employed in any government service (Central/State) and his/her family members (spouse and their unmarried children) are not eligible for the scheme
- The registration and benefits of this scheme are restricted to only one member of the family
Documents Required for PM Vishwakarma Yojana 2024
- Aadhaar Card
- Mobile Number
- Bank Account Details
- Ration Card (In case the applicants do not have a ration card, they will have to provide the Aadhaar number of all their family members)
- If case of the absence of a bank account, an applicant will be first required to open an account for which CSC will look after the handholding process
Step To Register PM Vishwakarma Yojana 2024
