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PM Vishwakarma Yojana
For traditional artisans and craftsmen across 18 designated trades. Benefits: ₹15,000 toolkit incentive, collateral-free ₹3 lakh loan, skill training stipend.
How it works
PM Vishwakarma was launched on 17 September 2023 with a ₹13,000 crore outlay (FY 2023–28). Applicants must be 18+, self-employed in one of 18 notified trades, and not have availed similar credit-linked schemes (PMEGP, PM SVANidhi, Mudra) in the last 5 years. Registration is via the Common Service Centre (CSC) with Aadhaar e-KYC; final approval is at the Gram Panchayat / ULB level.
Worked example
A 32-year-old goldsmith from Coimbatore registers via CSC, completes 5 days of basic training (₹500/day stipend = ₹2,500), receives a ₹15,000 e-voucher for tools, then qualifies for a ₹1 lakh enterprise loan at 5% interest, 18-month tenure. After repayment, a second tranche of up to ₹2 lakh (30-month tenure) opens. Digital transaction incentive of ₹1 per UPI transaction (up to 100/month) sweetens the offering.
When to use this
- Carpenters, blacksmiths, goldsmiths, potters and 14 other trades confirming eligibility
- RWA and SHG members helping local artisans apply
- NGOs / FPOs onboarding artisan clusters in Bihar, UP, Odisha, MP
- Bankers (PSU branches) issuing the credit-linked subsidy
For broader self-employment financing, also check the PM Mudra loan calculator.
FAQ
What is the loan tranche structure?
Tranche 1: ₹1 lakh at 5% interest, repayable in 18 months. After successful repayment + skill training, Tranche 2: ₹2 lakh at 5%, repayable in 30 months. Total ₹3 lakh.
Is the toolkit physical or cash?
Cash voucher of ₹15,000 to bank account, redeemable for tools. Trade-specific list maintained by the scheme. Sometimes implemented as direct toolkit distribution by district authorities.
Can multiple family members register?
No — one beneficiary per family for the toolkit + Tranche 1 loan. Other family members can register but receive only training and certification benefits.