PM Vishwakarma Yojana: Get Loan Up to ₹3 Lakh, Eligibility, Benefits and Required Documents Explained

The PM Vishwakarma Yojana is a flagship initiative of the Government of India aimed at strengthening the economic condition of traditional artisans and craftsmen across the country. Launched to promote self-reliance among skilled workers, this scheme focuses on providing financial assistance, skill development, modern tools, and market access to those engaged in age-old professions.

Implemented under the Ministry of Micro, Small and Medium Enterprises (MSME), the scheme recognizes eligible beneficiaries as “Vishwakarma” artisans, enabling them to receive structured government support. The program has been rolled out for an initial period of five years, with the goal of increasing income, improving productivity, and ensuring sustainable livelihoods.

What Is PM Vishwakarma Yojana?

PM Vishwakarma Yojana is designed specifically for artisans who work with their hands and traditional tools. Professions such as carpentry, blacksmithing, goldsmithing, pottery, sculpting, tailoring, cobbling, and similar crafts are covered under the scheme. By formalizing these artisans and providing institutional support, the government aims to integrate them into the modern economy without compromising traditional skills.

The scheme combines training, financial aid, digital empowerment, and marketing support, creating a complete ecosystem for artisans to grow.

Major Benefits of PM Vishwakarma Yojana

Under this scheme, beneficiaries receive a wide range of benefits:

Vishwakarma Certificate and ID Card
Registered artisans are issued an official certificate and identity card, allowing them to access all scheme-related benefits easily.

Skill Development Training

• Basic training of 5–7 days (40 hours)

• Optional advanced training of 15 days (120 hours)

• During training, artisans receive a daily stipend of ₹500, ensuring income continuity.

Tool Kit Incentive
A grant of up to ₹15,000 is provided to purchase modern tools and equipment, helping artisans improve efficiency and quality.

Credit Support Up to ₹3 Lakh

• First loan: Up to ₹1 lakh, repayable within 18 months

• Second loan: Up to ₹2 lakh, repayable within 30 months

• Loans are collateral-free

• Beneficiaries pay only 5% interest, while up to 8% interest subsidy is borne by the government

• Credit guarantee charges are fully covered by the government

Digital Transaction Incentives
Artisans receive ₹1 per digital transaction, up to 100 transactions per month, encouraging digital payments.

Marketing and Branding Support
Through the National Committee for Marketing (NCM), artisans get assistance with branding, e-commerce integration, trade fairs, advertising, and product promotion, helping them reach national and global markets.

Who Is Eligible for the Scheme?

The scheme is open to artisans who:

• Are 18 years or older

• Work in one of the 18 notified traditional trades

• Use hand tools and traditional equipment

• Are not employed in the organized sector

• Have not taken loans under similar government credit schemes like PMEGP, PM SVANidhi, or Mudra in the last five years

Only one member per family can avail of the scheme. Government employees and their family members are not eligible.

Documents Required for PM Vishwakarma Yojana

The registration process requires minimal documentation:

• Aadhaar Card

• Active Mobile Number

• Bank Account Details

• Ration Card (mandatory)

If a ration card is unavailable, Aadhaar details of all family members must be submitted. Applicants without a bank account must first open one through a Common Service Center (CSC) before proceeding with registration.

Conclusion

PM Vishwakarma Yojana is a comprehensive effort to uplift India’s traditional artisans by blending heritage skills with modern support systems. With easy registration, affordable loans, skill enhancement, and strong market linkage, the scheme has the potential to transform the lives of millions of craftsmen across the country.