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GS-II : Government policies and interventions Government policies and interventions

13 January, 2026
3 Min Read

PM Vishwakarma Scheme

Recently, the National Steering Committee (NSC) of the PM Vishwakarma Scheme approved several proposals and policy measures to improve loan sanctions and disbursement mechanisms under the scheme.

About the Scheme

The PM Vishwakarma Scheme is a Central Sector Scheme launched by the Ministry of Micro, Small and Medium Enterprises (MSME).
The scheme aims to strengthen the Guru–Shishya parampara, which refers to the family-based transmission of traditional skills among artisans and craftspeople who work with their hands and tools.

Objectives

The scheme seeks to enhance the productivity, income, and market access of traditional artisans by providing skill training, credit support, market linkages, and incentives for digital transactions.

Duration

The scheme is being implemented for a period of five years, from FY 2023–24 to FY 2027–28.

Eligibility and Coverage

The scheme is open to both rural and urban artisans and craftspeople across India.
To be eligible, beneficiaries must:

Be 18 years of age or older
Be engaged in a traditional craft or trade
Not have availed similar loans in the last five years

The scheme covers 18 traditional trades, including boat makers, armourers, blacksmiths, hammer and toolkit makers, among others.

Key Features

Recognition

Eligible beneficiaries are provided with a PM Vishwakarma Certificate and Identity Card, giving them formal recognition as skilled artisans.

Skill Upgradation

The scheme offers:

Basic training of 5–7 days
Advanced training of 15 days or more

During the training period, beneficiaries receive a stipend of ?500 per day.

Toolkit Incentive

A toolkit incentive of up to ?15,000 is provided in the form of e-vouchers at the start of basic skill training to help artisans upgrade their tools.

Credit Support

The scheme provides collateral-free Enterprise Development Loans of up to ?3 lakh, distributed in two tranches:

?1 lakh in the first tranche
?2 lakh in the second tranche

The loans are offered at a concessional interest rate of 5%.

Target Beneficiaries

The scheme aims to cover 5 lakh families in the first year and 30 lakh families over five years.

Source: INDIAN EXPRESS

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