PM Vishwakarma Yojana: Access ₹3 Lakh Loan and Free Toolkits for Indian Artisans
Learn about PM Vishwakarma Yojana offering ₹3 lakh collateral-free loans, free toolkits worth ₹15,000, and skill training for traditional craftsmen and artisans
The PM Vishwakarma Yojana is a landmark initiative by the Government of India designed to provide end-to-end support to artisans and craftspeople who work with their hands and tools. Launched to preserve traditional heritage and promote economic empowerment, the scheme integrates skill upscaling, modern toolkit incentives, and low-interest credit support to bring traditional trades into the formal economy.
What is this scheme?
PM Vishwakarma is a Central Sector Scheme that provides recognition through a PM Vishwakarma Certificate and ID Card, basic and advanced skill training, a toolkit incentive of ₹15,000, and collateral-free credit support up to ₹3,00,000 at a concessional interest rate of 5%. It covers 18 traditional trades including carpenters, blacksmiths, potters, and weavers.
Who is eligible?
- An artisan or craftsperson working with hands and tools in one of the 18 specified trades.
- Minimum age of 18 years at the time of registration.
- The beneficiary should not have availed loans under similar credit-based schemes (e.g., PMEGP, PM SVANidhi, Mudra) in the past 5 years.
- Registration and benefits are restricted to one member per family.
- Government servants and their family members are not eligible.
How much money?
Credit support up to ₹3,00,000 (Two tranches: ₹1 Lakh and ₹2 Lakh) at 5% interest rate, plus ₹15,000 toolkit e-voucher.
Documents needed
- Aadhaar Card
- Mobile Number linked with Aadhaar
- Bank Account Details (Passbook/Cancelled Cheque)
- Ration Card (for family verification)
- Skill Category details
How to apply (step by step)
- Visit the official PM Vishwakarma portal (pmvishwakarma.gov.in).
- Complete Mobile and Aadhaar authentication via OTP.
- Register the ‘Artisan Registration Form’ with personal and trade details.
- Submit the application for Gram Panchayat or ULB level verification.
- Undergo Skill Verification and 5-7 days of Basic Training.
- Claim the Toolkit E-Voucher worth ₹15,000 after successful training.
- Apply for the first tranche of the collateral-free loan (up to ₹1 Lakh).
Important dates
| Event | Date |
|---|---|
| Scheme Launch Date | September 17, 2023 |
| Application Deadline | As per latest notification, verify on official portal |
| Training Commencement | Ongoing (Trade-specific batches) |
Conclusion
The PM Vishwakarma Yojana is more than just a financial aid scheme; it is a movement to honor the 'Vishwakarmas' of India. By providing modern tools and affordable credit, the government ensures that traditional craftsmanship remains viable and competitive in the modern market. Eligible artisans should apply immediately to leverage these benefits for business expansion.
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