Exploring PM Vishwakarma Yojana: Empowering India’s Traditional Workforce

PM Vishwakarma yojana: The scheme was announced in celebration of PM Narendra Modi’s birthday, which falls on September 17th, 2023. The launch takes place at the India International Convention and Expo Centre, which is also known as the Yasho Bhoomi Convention Center in Dwarka. This article provides all the details about the Prime Minister’s Vishwakarma Yojana 2024.

What is PM Vishwakarma Yojana?

PM Vishwakarma Yojana (also called PM Vishwakarma Kaushal Samman) gives an easy way to get collateral-free credit up to 3 lakh, with five percent interest percent p.a. for four years. It is a central industry program launched through MoMSME (Ministry of Micro Small and Medium-sized Enterprises) that assists with market linkage through skill training, incentives, and incentives for digital transactions for artisans and craftspeople who work in specific trades after a successful verification and approval applicants are enrolled as part of the Pradhan Mantri Vishwakarma yojana.

PM Vishwakarma Yojana Details

In the vishwakarma shram samman yojana, those working in 18 professions will be covered. The trades covered include carpenter, boat maker, blacksmith, armorer, hammer as well as tool maker, locksmith, potter, goldsmith sculptor, stone breaker, shoesmith/cobbler/footwear artisan, mason, basket/mat/broom maker/coir weaver toys maker (traditional) barber maker, garland maker tailor, washerman, and fishnet maker. These craftsmen and artisans of the past are known as “Vishwakarmas.”

The interest rate for PM Vishwakarma Yojana will be fixed at 5 % p.a. The interest subsidy, up to 8.8%, is paid out in advance to banks through the MoMSME.

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The amount of the loan and the Tenure of PM Vishwakarma Yojana

It is important to note that the first loan tranche will be authorized upon completion of 5-7 working days of basic training offered by MSDE. A second tranche of loans will only be made available to borrowers with high expertise who have repaid their one-time loan in the first installment, kept an account for loans regularly, incorporated digital transactions into their businesses, or completed advanced courses. Additionally, the second loan tranche is not sanctioned six months before the initial tranche of loan payment.

PM Vishwakarma Yojana Features

Borrowers will be issued a Digital ID along with PM Vishwakarma Digital Certificate along with a The PM Vishwakarma ID Card to take advantage of these benefits as part of this scheme:

Skill Upgradation

PM Vishwakarma Kaushal Samman’s program provides the opportunity to train borrowers in vocational training facilities. After completing seven days of basic education, the borrower is awarded a training allowance (Rs 500/day) in an Aadhaar-connected bank account via DBT (Direct Benefit Transfer). Interested candidates may also apply for Advanced Training for 15 days in designated training facilities. During the training period, accommodation, board, and meals are free.

Toolkit Incentive

Vishwakarma Yojana provides toolkit incentives that can be as high as Rs 15,000 to applicants who have taken Skill Assessment as part of the “Skill Upgradation’. It is given via e-RUPI/e-vouchers to help you purchase better tools from the designated centers.

Access to Affordable Credit

The scheme provides loans without collateral for all eligible applicants. Even those with no credit history can get loans under this scheme.

Marketing Support

• The borrower will receive marketing support in their favorite areas from the NCM (National Committee on Marketing). The assistance includes creating a physical and online presence for the items and/or services offered, branding development, packaging design, development of Trade Fair advertising, contact with exporters, quality of products, and listing items on online shopping portals.
• The NCM will cover the following areas.
• Certifications of quality
• Onboarding for eCommerce platforms
• Participation at trade fairs

Incentive for Digital Transactions

The scheme provides incentives to encourage the use of UPI for digital transactions. Incentives of. 1 for each eligible digital transaction (up to 100 monthly transactions) will be added to the beneficiary’s linked account through the Aadhaar Payment Bridge System (APBS).

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Pradhan Mantri Vishwakarma Yojana Benefits

Benefits like these will be given to all artisans and Craftspeople under the PM Vishwakarma Yojana.

• Loans up to Rs. 1,00,000 will be offered with a 5% Interest Rate for the first phase.
• Loans up to Rs. 2,00,000 will be offered at 5% interest rate in the 2nd Phase.
• Skills Training is also provided.
• An allowance of Rs. 500/$ per day is provided during training.
• Rs. 15,000 or more will be paid to purchase Advanced Tools.
• PM Vishwakarma’s Certificate, as well as an Identity Card, will be issued.

PM Vishwakarma Yojana is a comprehensive scheme that aims to provide complete assistance to artisans and craftspeople by providing the following elements:

• Recognition: PM Vishwakarma Certificate and ID Card
• Skill Upgradation
• Toolkit Incentive
• Credit Support
• Incentive for Digital Transactions

Vishwakarma Samman Yojana Components

• Financial Assistance: Offering cash assistance to artisans.
• Advanced Skill Development: Provides advanced training to enhance their skills.
• Contemporary Technological Knowledge: Equipping artisans with the latest digital tools and green technology.
• Promotion of Artist Brands: Promoting the recognition and visibility of the brands of artisans.
• Marketplace Integration: Linking artisans to both global and local markets.
• The Digital Payment Facilitation Program: Helping to promote digital payment methods.
• Social Security Measures Assuring that artisans have social security.

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Eligibility of PM Vishwakarma Yojana

• The applicant must be an artist or craftsperson engaged in any of the 18 traditional family trades (mentioned in the following section) in the informal sector, unorganized, or self-employment.
• The age minimum of the applicant must be 18 on the registration day.
• The applicant must not have obtained loans through similar schemes of state credit or central credit to help entrepreneurs or self-employed, e.g., PM SANNidhi PMEGP, MUDRA, in the last five years. However, those who have applied for MUDRA or SVANidhi who have repaid their loans are eligible for loans through PM Vishwakarma Yojana. The five years are calculated starting from the date of sanction.
• A person employed in a public service (Central/State) and his or her household members (spouse and unmarried children) are not eligible to participate in the scheme.
• The benefits and registration for this scheme are only available to a single family member.

Trades that are covered under Vishwakarma Yojana

Wood Based

1. Carpenter (Suthar/Badhai)
2. Boat Maker

Iron/Metal Based/Stone Based

1. Armourer
2. Blacksmith (Lohar)
3. Hammer and Tool Kit Maker
4. Locksmith
5. Sculptor (Murtikar, Stone Carver)
6. Stone Breaker

Gold/Silver Based

• Goldsmith (Sonar)

Clay Based

• Potter (Kumhaar)

Leather Based

• Cobbler (Charmakar)/Shoesmith/Footwear Artisan

Architecture/Construction Based

• Masons (Rajmistri)

Others

1. Basket/Mat/Broom Maker/Coir Weaver
2. Doll & Toy Maker (Traditional)
3. Barber (Naai)
4. Garland Maker (Malakaar)
5. Washerman (Dhobi)
6. Tailor (Darzi)
7. Fishing Net Maker

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PM Vishwakarma Yojana Online Apply

The online application procedure for the vishwakarma yojana 2024 is simple and can be completed in only a couple of simple and easy steps. This includes:

PM vishwakarma yojana registration process 2024:

Step 1: Registration

• Visit the PM Vishwakarma Yojana Official Portal(https://pmvishwakarma.gov.in/) starting September 17th, 2023.
• Sign up using your mobile number and your Aadhar Card.
• Verify your mobile number and Aadhar Card by using OTP Authentication.

Step 2: Fill in the Registration Form

• After verifying your identity, fill out your PM Vishwakarma Formula for Yojana Registration form with all your information, including your name, address, and trade-related information.
• Submit the Registration Form.

Step 3: Download Your Digital ID and Certificate

Once you have registered successfully, you will be able to download the PM Vishwakarma digital ID and Certificate to use for future information.

Step 4: Login and Apply

• Log into the PM Vishwakarma Yojana Portal with your login credentials.
• You can apply for various schemes on the portal.
• Upload the necessary documents according to the requirements described in the scheme details.
• Send the application form to be considered.

Step 5: Verification and Disbursement

• Officials will check the applications.
• Loans that are collateral-free under the Prime Minister’s Vishwakarma The Yojana are distributed by Commercial Banks, Regional Rural Banks, and other Financial Institutions.

Fees & Charges of PM Vishwakarma Yojana

The applicant does not have to complete the enrollment procedure. The government pays the total cost of enrollment through CSC, as well as registration and the issuance of an ID or certificate. Additionally, no penalty for prepayment is imposed after six months after loan disbursement.

Documents Required for PM Vishwakarma Yojana

• Aadhaar Card
• Mobile Number
• Bank Account Details
• Ration Card (If applicants don’t have a Ration card, they will be required to present an Aadhaar number of all family members)
• If the bank’s account is nonexistent, applicants must establish a new account, for which CSC will handle the handling process.