The PM Vishwakarma Loan Yojana, also called PM VIKAS, is a big plan by the Indian government to help artisans and craftspeople. It was launched on September 17, 2023, by the Ministry of Micro, Small and Medium Enterprises (MSME). This plan offers support to people working in traditional trades who are not part of big companies. Here, we’ll look at what this scheme offers, who can join, the benefits, and how to apply.
Contents
Key Features of PM Vishwakarma Loan Yojana
Helping Artisans and Craftspeople This scheme is made to help artisans and craftspeople by giving them tools, financial help, and market support to improve their work and lives.
Complete Support The scheme offers training, new technology, credit, and market help to support artisans and craftspeople.
Recognition and Certification People who join the scheme get a PM Vishwakarma Certificate and ID Card, proving they are part of the scheme.
Financial Help The scheme offers “Enterprise Development Loans” without needing collateral. The total loan amount can be up to ₹3 lakhs, given in two parts: ₹1 lakh and ₹2 lakhs, with a low-interest rate of 5%. The first part must be paid back in 18 months, and the second part in 30 months.
Toolkit Incentive Beneficiaries get e-vouchers worth up to ₹15,000 to buy tools and equipment needed for their trade.
Digital Transaction Incentive To encourage cashless transactions, beneficiaries earn Re 1 for each transaction, up to 100 transactions per month.
Marketing Support The scheme helps with marketing through the National Committee for Marketing (NCM), which assists in quality certification, branding, promotion, e-commerce, trade fairs, advertising, and publicity.
Eligibility Criteria
Age and Occupation People aged 18 and above who are involved in hands-on craftsmanship or artisan work in traditional trades can join this scheme.
Specific Trades The scheme includes 18 trades, such as carpentry, boat making, blacksmithing, goldsmithing, pottery, sculpting, cobbling, masonry, basket weaving, doll and toy making, barbering, garland making, laundry, tailoring, and fishing net making.
Exclusions Government employees and their family members cannot join this scheme. Also, those who have taken similar loans for self-employment or business from the Central or state government in the last five years are not eligible.
Application Process
Online Registration Applying for the PM Vishwakarma Scheme is simple. Eligible people need to register at the nearest Common Service Center (CSC) with the required documents.
Required Documents Applicants need the following documents: Aadhaar Card, Voter ID, Proof of Occupation, Mobile Number, Bank Account Details, Income Certificate, and Caste Certificate (if applicable).
Verification and Approval After registering at the CSC, a three-step verification process checks the eligibility and details of the applicant. Once approved, the candidate can download the certificate and ID card issued by the Government of India.
Training and Toolkit Distribution
When candidates get their ID cards, they can join a skill training program that lasts for about 5-7 days. They will earn Rs. 500 each day during this training. After finishing the training, they will receive a toolkit worth Rs. 15,000 that will help them in their work.
Conclusion
The PM Vishwakarma Loan Yojana is a program designed to help traditional artisans and craftspeople in India. It provides money, skill training, and market support to help them keep and grow their businesses. This, in turn, helps boost the country’s economy.
For more information and to apply, visit the official website: PM Vishwakarma Yojana.