PM VISHWAKARMA YOJANA: ELIGIBILITY, BENEFITS

The aim of this PM Vishwakarma Yojana is to improve the quality and reach of the products & services of craftspeople and artisans and also to enable the recognition of artisans and craftspeople as Vishwakarma, and making them eligible to avail all the benefits under the scheme. This will enhance the socio-economic as well as quality of life of Vishwakarma i.e., the artisans and craftspeople.

PM Vishwakarma is a Central Sector scheme fully funded by the Government of India launched on 17.09.2023. Initially the scheme is implemented for 5 years, i.e., up to FY 2027-28. Initially the scheme is implemented for 5 years i.e., up to 2027-28.

Objective

To enable the recognition of artisans and craftspeople as Vishwakarma, and making them eligible to avail all the benefits under the scheme.
To provide skill upgradation to enhance their skills by providing them relevant and suitable training
To provide support for better and modern tools to enhance their capability, productivity and quality of products and services.
To provide the beneficiaries an easy access to collateral free credit and on low interest rate by providing interest subvention.
To provide incentives for digital transactions to encourage digital empowerment of Vishwakarmas.
To provide a platform for brand promotion and market linkages to help them access new opportunities for growth.

Eligibility

An artisan or Craftsperson working with hands and tools and engaged in one of the family based traditional trades in the unorganized or informal sector, on self-employment basis.
The minimum age of the beneficiary should be 18 years on the date of registration for this scheme.
The benefits of the scheme are restricted to one member the family. i.e., one person in husband, wife and unmarried children.
A person in government service and her/his family members shall not be eligible under the scheme.
Initially the following 18 traditional trades will be covered under PM Vishwakarma for providing benefits to the artisans and craftspeople engaged in these trades:
Carpenter(Suthar/Badhai),Boat Maker, Armourer ( who are manufacture, repair or service various types of arms like swords, knives, helmets etc),Blacksmith (Lohar), Hammer and Tool kit maker, Locksmith ( who are making/repairing locks), Sculptor ( Moortikar, Stone carver), Stone breaker, Goldsmith ( Sonar), Potter ( Kumhaar), Cobbler ( Footwear artisan, shoesmith), Masons ( Rajmistri), basket/mat/broom maker/ coir weaver, Doll & Toy maker (Traditional), Barber(Naai), Garland Maker (Malakaar), Washerman(Dhobi), Tailor(Darzi), Fishing net maker. The list of trades may be updated and modified by government time to time.

Registration process

Visit the official website https://pmvishwakarma.gov.in/ and follow the following steps:-

Step1: Mobile and Aadhar Verification
Step2: Apply for the registration form.
Step3: Download the PM Vishwakarma Digital ID and certificate
Step4: Start applying for different components of benefits.

Benefits under PM Vishwakarma Yojana

Recognition:

PM Vishwakarma Certificate and ID Card– The artisans and craftspeople will receive the PM Vishwakarma Certificate and ID Card. A unique digital number shall be created and reflected on the certificate and the ID Card.

Skill upgradation

Skill Assessment for all registered beneficiaries will be done to ascertain their existing skill levels.
Basic Training ( in Guru-Shishya Parampara format by skilled trainer): essential for improving the skills of all registered Vishwakarmas, and an eligibility condition for drawing the first tranche of loan. The purpose of basic training will be to enable the Vishwakarmas to improve their skill levels, to avail credit support and upgrade/modernize their tools. The basic training will be of about 40 hours, over 5-7 days customised training programme for each trade/type of vishwakarmas and toolkits. This training will provide the Vishwakarma, the exposure to modern tools and best practices, designs, introduction to the larger value chain of the sector, digital, financial, and soft skills, and imbibed with marketing and entrepreneurial knowledge. After the basic training the Vishwakarma should be confident to attempt new business practices in their trade, use the tools skill fully and have a concrete plan to utilize the subsequent Rs.1 lakh loan. The beneficiary will get boarding and lodging facility free of cost during the training and will also get stipend of Rs. 500.00 per day as wage compensation. The focus of training will be to handhold and facilitate beneficiaries to enhance quality of their products.
Advanced Training: – beneficiaries interested in pursuing further skill upgradation after the basic training will be enrolled for advanced training of 15 days/ 120 hours or more at designated training centres. The aim of this is to deepening entrepreneurial knowledge i.e. deeper understanding of latest technologies, design elements and enabling value chain linkages. so that the Vishwakarmas may feel confident enough to develop into an enterprise from self-employment. After completion of Advance training, the Vishwakarmas will be eligible for the second loan tranche up to Rs.2 Lakh subjected to certain criteria. During this training boarding& lodging facility will be free and will also get stipend of Rs. 500.00 per day as wage compensation. The data of trained Vishwakarmas at every stage of training cycle will be available on the Skill India Digital Portal.

Training Stipend

Each beneficiary will be eligible to receive a training stipend of Rs.500.00 per day while undergoing the basic and advanced training programmes. The stipend will be credited to beneficiaries’ bank account through DBT after completion of the training.

Toolkit Incentive

A toolkit incentive of up to Rs.15000.00 will be provided to the beneficiary after skill assessment at the start of basic training. The incentive will be given in the form of e-Vouchers/e-RUPI. A digital guide and short video tutorials will be provided to Vishwakarmas to familiarize and enable them in skilful handling of the modern tools in their trades. This will improve their product & services, quality and production levels

Credit Support

easy access to subsidized institutional credit for enterprise development. The beneficiary must have undergone skill assessment and completed basic training to be eligible to avail first tranche of credit support of up to Rs.1 lakh under the Enterprise Development Loan scheme.

The total amount of loan assistance would be Rs.300000.00 wherein, the beneficiaries can avail the first loan tranche up to Rs.100000.00 and second loan tranche up to Rs.200000.00
No collateral will be required to avail this loan.
The beneficiary Should not have availed loans under similar credit based schemes of central and state government for self-employment /business development e.g. PMEGP, PM SVANidhi, MUDRA in the past 5 years.
There should be no default cases in credit history of beneficiary as per Credit information report.
The disbursal of credit under the scheme will be linked with attainment of basic and advance training. The beneficiary will be eligible for first loan tranche on completion of 5-7 days basis training provided by MSDE.
The second loan tranche will be available to beneficiaries who have availed the 1^st tranche and maintained a standard loan account and have adopted digital transactions in their business or have completed Advanced training. They should have fully repaid the first loan tranche before availing the second tranche. Further the second loan will not be granted before 6 months of the disbursement of first tranche loan.
The loan is required to be repaid in monthly instalments.
No prepayment penalty will be charged from beneficiary after 6 months of loan disbursement.
Concessional Rate of interest chargeable to beneficiaries for loan will be fixed at 5%. The interest subvention by the government of India will be to an extent of 8@ and provided upfront to the banks.
A beneficiary will be eligible to avail concessional interest for both first and second tranches of the loan.
The loan will be insured by CGTMSE (CRDIT GUARANTEE FUND TRUST FOR MICRO AND SMALL ENTERPRISES) and the credit guarantee fees will be borne by the central government.
The loan facility will be provided by all scheduled commercial banks, Regional Rural Banks, Cooperative banks, NBFC , etc..

Tranche	Amount of Loan ( in Rs.)	Term of Repayment ( in months)
1^st Tranche	Up to 100000.00	18 months
2^nd Tranche	Up to 200000.00	30 months

Incentive for Digital Transactions

An amount of Rs.1 per eligible digital transaction ( up to maximum 100 eligible transactions monthly) will be credited to the beneficiary ‘s bank account in DBT. For those beneficiaries not having QR code and UPI id , They will be provided QR code and UPI code free of cost through Digital Payment Aggregators e.g. PAYTM, BharatPe, PhonePe etc.

Marketing support

The National Committee for Marketing (NCM) will provide services such as quality certification, Branding and promotion, e-commerce, market linkage, trade fairs advertising, publicity and other marketing activities.

PM VISHWAKARMA YOJANA: Objective, Eligibility, Benefits AND its registration process. get a business loan up to Rs.300000.00 in two tranche.

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