PM Vishwakarma Scheme Eligibility, Objective, Benefits

The PM Vishwakarma Scheme was launched on September 17, 2023 by the Prime Minister of India in order to support artisans and craftsmen practicing traditional trades. It is a central sector scheme and has had a huge response with about two million applications being filled on the ‘pm vishwakarma.gov.in. The Ministry of Micro, Small and Medium Enterprises (MSME) is the implementing ministry of this scheme.

PM Vishwakarma Scheme Overview 

The PM Vishwakarma Scheme launched in 2023 aims to support traditional artisans and craftsmen, also known as “Vishwakarmas”, who are engaged in handicrafts and other small-scale industrial activities. 

PM Vishwakarma Scheme Objectives 

The PM Vishwakarma Scheme honors traditional artisans by giving them the position of “Vishwakarma” making them eligible for many benefits. The Objectives of PM Vishwakarma are: 

• Artisans are offered collateral-free loans with reduced borrowing costs due to interest subsidies. 
• The scheme aims to provide basic and advanced skills to artisans, helping them improve the skills through training programmes.
• Providing tools and technology to artisans in order to improve productivity and quality of work and products. 
• Teaching the use of digital payment methods and also offering incentives. 
• Showcase brands and the access to new markets for business expansion. 
• Provide economic opportunities by integrating traditional artisans into formal economy and global supply chains.

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PM Vishwakarma Yojana Details

Below are the key details of the PM Vishwakarma Yojana:

PM Vishwakarma Scheme Eligibility

The eligibility criteria for the PM Vishwakarma Scheme are as follows: 

• The applicant has to be minimum 18 years of age during the time of registration. 
• The applicant should be enrolled in at least one out of the 18 specified trades within the unorganised sector. 
• The artisan should be dependent on using hands and tools while working in the unorganised sector. 
• Applicants who have already applied for schemes like PM-SVANidhi are not eligible to apply for this scheme. One can only reapply after replaying the loan. 
• Only one member from a family is eligible to apply for the scheme. 
• Government employees and their families are not eligible to apply for the scheme.

PM Vishwakarma Yojana Benefits 

PM Vishwakarma Yojana offers the following benefits: 

• Providing the sources and skills to the artisans in order to help improve their trade practices. 
• Ensuring artisans economic stability by giving them access to credit and modern tools to improve productivity and increased income. 
• Maintaining the preservation of cultural heritage by promoting recognition and respect of traditional crafts. 
• Giving sustainable livelihoods to artisans through financial assistance and skill development.