PM Vishwakarma Yojana Explained: Goals, Subsidy & Process

India has a long tradition of skilled artisans. These are the people who work with their hands and pass their craft from one generation to the next. You will find various professionals in this category, like carpenters, blacksmiths, tailors, potters, and more.

But over time, these workers are looking for not just support but also the reach. This is mainly to help them with financial stability and growth. For this, the PM Vishwakarma Yojana was introduced to change that. 

The scheme focuses on strengthening traditional artisans by offering structured financial assistance and skill training. This is not just a plan that helps them save money from their income. But this is a plan that aims at offering proper support throughout their journey. So, read this guide to explore more. 

What Is PM Vishwakarma Yojana?

PM Vishwakarma Yojana is a central government scheme. It is designed to support traditional artisans and craftspeople. These are the people who rely on family-based skills for their livelihood. 

Many of these workers operate in the unorganised sector. This is one reason they often struggle with limited access to formal credit, modern tools, and wider markets. The scheme provides structured financial assistance and skill development training. It is created to support upgrading equipment as well. It also promotes digital payments and financial inclusion. 

The overall aim of the Yogana is focused on the following:

• Strengthen traditional trades

• Improve productivity

• Help build stable and sustainable income sources

Objectives of PM Vishwakarma Yojana

The scheme has been introduced with a clear purpose. It is not just about giving financial help, but about building long-term stability for traditional workers. Many artisans struggle with low income, outdated tools, and limited market access. 

The main PM Vishwakarma Yojana details in terms of objectives are as follows:

• Provide affordable and collateral-free credit support to artisans.

• Upgrade skills using structured basic and advanced training programs.

• Improve product quality and productivity with modern toolkits.

• Promote digital transactions and formal banking access.

• Create a better form of market for the reach and growth.

• Develop proper and effective brand recognition for traditional trades.

These objectives aim to strengthen the unorganised sector and raise income levels sustainably.

PM Vishwakarma Yojana Benefits

The scheme is designed to provide complete and practical support to traditional artisans. It focuses on recognition, skill development, financial access, and market exposure. Each benefit works together to help artisans improve income, productivity, and long-term business stability.

1. Recognition and Identity

All the applicants will receive a PM Vishwakarma Certificate along with a unique ID card. This formal recognition helps artisans build credibility. This also helps them to connect with banks, institutions, and government systems more easily.

2. Skill Upgradation and Training

The scheme includes a 5-day basic training program followed by a 15-day or longer advanced training course. This structured learning improves technical skills. It is supported by the product quality and overall efficiency.

3. Training Stipend

During the training period, artisans can get the stipend as well. This is where they will receive a stipend of Rs. 500 per day. This ensures that participants can upgrade their skills. The biggest benefit is that this is without worrying about daily income loss.

4. Toolkit Incentive

An incentive of Rs. 15,000 is provided. This is all through e-vouchers or Direct Benefit Transfer. This support helps beneficiaries purchase modern tools and improve productivity.

5. Credit Support at Concessional Rate

Artisans can access collateral-free enterprise development loans. All this is given at a concessional interest rate of 5%. The rest of the details are linked to the same as follows:

• First Tranche: Up to Rs. 1 lakh with an 18-month repayment period.

• Second Tranche: Up to Rs. 2 lakh with a 30-month repayment period.

6. Marketing and Digital Support

The scheme promotes digital transactions by offering Rs. 1 per transaction as an incentive. It also supports brand promotion and market linkages. All this is to help artisans expand their reach and grow their business.

Eligibility Criteria

Before applying, it is important to understand who can benefit from the scheme. PM Vishwakarma Yojana focus on individuals working in the unorganised sector. So, based on the same, the key eligibility conditions are:

1. The applicant must be engaged in one of the notified traditional trades.

2. The applicant should be self-employed and working in the unorganised sector.

3. The minimum age required is 18 years.

4. The applicant should not have availed similar credit-linked government schemes for the same purpose.

5. Aadhaar-linked bank account and valid identification documents are required.

Meeting these conditions ensures smooth approval. This also ensures that there is smooth access to scheme benefits.

PM Vishwakarma Yojana Registration

The PM Vishwakarma Yojana registration process is designed to be simple and accessible. This is because it is especially for artisans in rural and semi-urban areas. The application is completed through authorised Common Service Centres. This is mainly to ensure proper verification and transparency. Aadhaar-based authentication is mandatory to confirm eligibility.

This is how you can complete this registration:

1. Visit the nearest Common Service Centre.

2. Complete Aadhaar-based biometric verification.

3. Provide required details such as occupation, bank account, and contact information.

4. Share all the documents that are needed for the verification.

5. The application is reviewed for proper details.

6. Then this is approved by the concerned authorities.

7. Once approved, the beneficiary receives official recognition. 

8. At this point, the applicant becomes eligible for training and credit support.

Applicants should ensure that their Aadhaar and bank details are up to date. Both should be active and correctly linked. So, check for the PAN and Aadhar card link first. Then check for the bank link.

Conclusion

PM Vishwakarma Yojana is more than just a credit scheme. It brings recognition, structured training, concessional loans, and marketing support together under one framework. It starts with the skill-upgradation programs. This scheme creates a clear path for traditional artisans to grow sustainably.

For individuals who want more information, they need to have access to the right platform like Rupeezy. Staying informed about financial schemes is a must. This is key to long-term stability as well. So, get started now.

FAQs

What is the main purpose of PM Vishwakarma Yojana?

The scheme aims to support traditional artisans. This is achieved by offering recognition, skill training, toolkit incentives, and collateral-free loans at concessional interest rates to improve income and business stability.

What is the total loan amount available under the scheme?

Beneficiaries can receive up to Rs. 1 lakh in the first tranche and Rs. 2 lakh in the second tranche, making the total potential credit support Rs. 3 lakh.

What interest rate is charged on the loan?

Loans under the scheme are offered at a concessional interest rate of 5 percent with government support.

Is training mandatory under PM Vishwakarma Yojana?

Yes. All the applicants need to complete the basic and advanced training under this scheme.

How can artisans apply for the scheme?

You can apply at the nearest Common Service Centre. Then complete the details and authentication. Once done, you can get the application processed.