In today’s changing economic landscape, many Indians want to become self-reliant by turning their traditional skills into sustainable businesses. From carpenters and potters to goldsmiths and tailors, India has millions of artisans whose craftsmanship has been passed down through generations. However, one major hurdle often stands in their way—lack of capital.
To address this long-standing challenge, the Government of India has introduced a dedicated welfare initiative aimed at empowering skilled workers. The scheme, known as the PM Vishwakarma Yojana, is designed to support traditional artisans and craftsmen with financial assistance, training, and modern tools—without requiring any collateral.
Who Is This Scheme Meant For?
The PM Vishwakarma Yojana specifically targets individuals who earn their livelihood using their hands and traditional tools. These are people who work independently or in small setups and often remain outside the formal financial system.
Instead of offering just a loan, the scheme takes a holistic approach by combining skill development, financial aid, and official recognition. The goal is not only to help artisans survive, but to help them grow and compete in modern markets.
₹3 Lakh Loan Without Any Guarantee
The most attractive feature of this scheme is its collateral-free loan facility. Beneficiaries are not required to mortgage property, gold, or any asset. Under the scheme, eligible artisans can receive loans of up to ₹3 lakh in two stages.
- First Phase: A loan of ₹1 lakh to start or expand work
- Second Phase: After successful repayment of the first loan, an additional ₹2 lakh can be availed
The interest rate is just 5%, which is significantly lower than most market-based loans. This makes repayment easier and reduces financial stress on small workers.
18 Traditional Professions Covered
The scope of the scheme is wide and inclusive. A total of 18 traditional occupations are covered, including:
Carpenters, boat makers, blacksmiths, locksmiths, tool makers, goldsmiths, potters, sculptors, cobblers, masons, basket and mat weavers, broom makers, toy and doll makers, barbers, garland makers, washermen, tailors, and fishing net makers.
This ensures that a large section of India’s informal workforce gets access to structured support.
Training, Stipend, and Tool Support
Financial assistance is only one part of the scheme. To help artisans upgrade their skills, the government provides both basic and advanced training programmes. These programmes focus on improving productivity, quality, and understanding of modern techniques.
To ensure that training does not impact daily earnings, beneficiaries receive a stipend of ₹500 per day during the training period. After completion, artisans are also given ₹15,000 as toolkit assistance in the form of an e-voucher to purchase modern equipment.
Additionally, beneficiaries receive a government-issued identity card and certificate, which provides formal recognition and helps them access other schemes and opportunities.
Eligibility and How to Apply
To apply for the PM Vishwakarma Yojana:
- Applicant must be at least 18 years old
- Only one member per family is eligible
- Applicant must be actively engaged in a listed profession
Applications can be submitted online through the official portal or via the nearest Common Service Centre. Required documents include Aadhaar card, bank account details, and an active mobile number.
A Step Towards Self-Reliant India
The PM Vishwakarma Yojana is more than just a loan scheme. It is a mission to uplift skilled workers who form the backbone of India’s traditional economy. By removing financial barriers and offering structured support, the scheme gives artisans the confidence to dream bigger and build sustainable livelihoods.
