PM Vishwakarma
Category: Business & Entrepreneurship, Skills & Employment
Level: Central | State: All
Ministry: Ministry Of Micro, Small and Medium Enterprises

Details:
PM Vishwakarma is a Central Sector Scheme launched by Ministry of Micro, Small and Medium Enterprises to provide holistic and end-to-end support to artisans and craftspeople through access to collateral free credit, skill training, modern tools, incentive for digital transactions and market linkage support. The scheme will initially be implemented for five years up to 2027-28.
> **Objectives**


   1. To enable the recognition of artisans and craftspeople as Vishwakarma making them eligible to avail all the benefits under the Scheme.
   1. To provide skill upgradation to hone their skills and make relevant and suitable training opportunities available to them.
   1. To provide support for better and modern tools to enhance their capability, productivity, and quality of products.
   1. To provide the intended beneficiaries easy access to collateral-free credit and reduce the cost of credit by providing interest subvention.
   1. To provide incentives for digital transactions to encourage the digital empowerment of these Vishwakarmas.
   1. To provide a platform for brand promotion and market linkages to help them access new opportunities for growth.

> **Implementing Agency**


  - The scheme is conjointly implemented by the following Ministries/Departments:
  - Ministry of Micro, Small and Medium Enterprises (MoMSME).
  - Ministry of Skill Development and Entrepreneurship (MSDE).
  - Department of Financial Services (DFS), Ministry of Finance (MoF).

Benefits:
Benefits
Recognition
: Recognition as Vishwakarma through Certificate and ID Card
Skilling
:
Skill Verification followed by 5-7 days (40 hours) of Basic Training
Interested candidates can also enrol for 15 days (120 hours) of Advanced Training
Training Stipend: ₹ 500 per day
Toolkit Incentive
: ₹ 15,000 grant
Credit Support
:
Collateral-free Enterprise Development Loans: ₹ 1,00,000 (First Tranche for 18 months repayment) & ₹ 2,00,000 (Second Tranche for 30 months repayment)
Concessional Rate of Interest: 5% to be charged from the beneficiary with an Interest Subvention cap of 8% to be paid by MoMSME
Credit Guarantee fees to be borne by GoI
Incentive for Digital Transaction
: ₹ 1 per transaction for a maximum of up to 100 transactions (monthly)
Marketing Support
: The National Committee for Marketing (NCM) will provide services such as Quality Certification, Branding and Promotion, e-commerce Linkage, Trade Fair Advertising, Publicity and Other Marketing Activities.
NOTE
: Notification to beneficiaries on disbursement of incentives will be done through SMS.

Eligibility Criteria:
1. The applicant should be an artisan or craftsperson working with hands and tools.
   1. The applicant should be engaged in an unorganized sector on a self-employment basis.
   1. The applicant should be engaged in one of the 18 family-based traditional trades mentioned in the scheme.
   1. On the date of registration for the scheme, the minimum age of the applicant should be 18 years.
   1. The applicant should be engaged in the concerned trade on the date of registration.
   1. The applicant should not have availed loans under similar credit-based schemes of the Central Government or State Government for self-employment/ business development, e.g. PMEGP, PM SVANidhi, Mudra, in the past 5 years.
   1. The registration and benefits under the Scheme shall be restricted to one member of the family.