Pradhan Mantri Vishwakarma Yojana scheme, under this scheme the government provides a loan of up to 3 lakhs at just 40 paise interest. Along with that, they offer free training—yes, free training! And for attending the training, they give us a daily stipend of 500 rupees,if we go for the training, they teach us, and for teaching us, they pay us 500 rupees daily as a stipend. Additionally, they provide a toolkit worth 15,000 rupees for free. For example, if you want to start tailoring, they will give you a sewing machine for free.
If you plan to start a different business, they will provide the machine related to that business for free, and its value will be 15,000 rupees—completely free! So, you must know about this scheme. In this article, I will explain what the Pradhan Mantri Vishwakarma Yojana scheme is, who is eligible to apply for it, how to apply, what the process is, and how we can get this money and machine for free.This scheme was launched by Prime Minister Modi on Vishwakarma Jayanti, which is September 17, 2023. The government has allocated 15,000 crores for this scheme. You can apply for this scheme until 2028; after that, you won’t be able to apply. Now, who is eligible for this scheme? I’ll tell you—only those who do manual or artisanal work are eligible
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Who Can Apply for this PM Vishwakarma Yojana
Following are the Workers who can apply for this scheme,Eligible workers for this scheme
- First, carpenters can apply. Similarly, people who make boats can also apply.
- Blacksmiths can apply, and goldsmiths—those who work with gold—can also apply.
- Potters and sculptors, who make idols by hand, are eligible to apply. Cobblers, who stitch shoes, can apply.
- Carpenters who do masonry work can apply, and those who make baskets, mats, or brooms can also apply.
- People who make dolls by hand are eligible, as well as barbers who do haircuts.
- Those who make flower garlands can apply, along with washermen (dhobis) and tailors.
- For tailors, they provide a sewing machine for free. Also, those who make fishing nets can apply. So, all these people are eligible to apply for this scheme.
Eligibility Criteria of the PM Vishwakarma Yojana
If anyone listed on the ration card files Income Tax Returns (ITR), you won’t be eligible for this scheme. The person applying must be above 18 years of age.
- So, the applicant needs to submit their Aadhaar card, must be over 18, and provide the ration card.
- The Aadhaar cards of everyone listed on the ration card must also be submitted.
- Additionally, no one in the family should be paying income tax. You also need to provide a phone number, and this phone number must be linked to your Aadhaar card.
- A caste certificate is required as proof of your profession—for example, if you’re a potter, you need to provide a caste certificate to prove it.
- You also need to provide your thumbprint, and a bank passbook. The money will be credited to this bank account. While applying at Mee Seva, they will select a bank for you.
Ineligibility of the PM Vishwakarma Yojana
- Additionally, if anyone in your family has availed of a Mudra loan or a PMEGP loan, this scheme won’t apply to you, and you won’t receive the certificate or ID card.
- Also, if anyone in your family is a government employee, you won’t get the certificate or ID card
- it will be rejected. If you receive the certificate and ID card, The training is also free, and for attending the training, they give you 500 rupees per day. Normally, the training lasts just five days.
About the Training of the PM Vishwakarma Yojana
Where does this training happen? At a training center in your mandal headquarters. For example, if I’m from Andloor village in West Godavari, my mandal is Veeravasaram, so the training center will definitely be in Veeravasaram. You need to attend for five days, and for attending, they pay you 500 rupees daily. After the training is complete, they deposit the total amount into your bank account at once. If you want advanced training, that’s also free and lasts 15 days. For this, too, they pay 500 rupees per day, credited to your bank account at the end.
After the training, what’s next? You get a toolkit worth 15,000 rupees for free. For example, if you’re at home with no work and want to start tailoring, you need a sewing machine. They will provide it for free, with a maximum value of 15,000 rupees. If you’re doing a different job, they’ll provide the toolkit related to that job for free, also worth 15,000 rupees.
However, they won’t give a sewing machine to everyone—only those doing tailoring get a sewing machine. For other jobs, you get the relevant toolkit. If they don’t have the toolkit, they’ll give you a voucher instead. You can take that voucher to a shop, and they’ll give you the toolkit worth 15,000 rupees. Some people might misuse the money for debts or parties, but that won’t work here. They give you a voucher specifically for buying the toolkit, and you can only use it for that.
They’ll even tell you which shop to go to, where the voucher will work, so you can directly go there and get your toolkit. So, they’ve given you the machine and training—what’s next? You need to start your business, and for that, you need money. The government provides that money as a loan. In the first installment, they give you a loan of 1 lakh.
The loan to start the Business under the PM PM Vishwakarma Yojana
the interest is very low—just 5%, which means 40 paise interest. Why only 5%? Because the government provides a subsidy. Normally, banks charge 13% interest for such loans, but the government subsidizes 8%, so you only pay 5%. When you apply at Mee Seva, they select a bank for you, and that bank will call you.
After the call, you can go to the bank and get the loan—1 lakh at 5% interest. The tenure for repayment is 18 months, during which you need to pay the EMI. If you clear the 1 lakh loan in 18 months, you can apply again for the second installment. You go back to the same bank, tell them you’ve cleared the 1 lakh loan, and they’ll give you another loan of 2 lakhs—not 3 lakhs, but 2 lakhs.
The interest remains the same at 5%, but this time the tenure is 30 months. You need to pay the EMI every month for 30 months. So, in total, you get 1 lakh plus 2 lakhs, which is 3 lakhs overall as a loan from the government. Now, let’s say you’ve started your business—what about marketing? The government often organizes fairs for artisanal work. For example, they might set up a fair at Vizag Beach, covering all expenses. At these fairs, you can set up a stall, display the items you’ve made by hand, and sell them.
Important Links
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