PM Vishwakarma Yojana (PM-Vikas), Launch 17 Sep 2023: Prime Minister Shri Narendra Modi is going to launch the “PM Vishwakarma Yojana” on 17th September 2023, Sunday on Vishwakarma Day.
During her 2023-2024 budget speech, Union Minister Smt. Nirmala Sitaraman announced the scheme’s purpose and vision as “PM Vishwakarma Kaushal Samman (PM VIKAS).”
Under the scheme, artisans can receive financial help (as a loan)– up to Rs. 1 lakh initially and up to Rs. 2 lakh later. They need to repay this money, but the interest is just 5%, a low rate.
In the below, you can read more about it:
PM Vishwakarma Scheme 2024 Details
The Cabinet Committee on Economic Affairs chaired by Prime Minister Shri Narendra Modi has approved the new Central Sector Scheme “PM Vishwakarma.”
This scheme comes with a financial outlay of Rs.13,000 crore for a five-year period (FY 2023-24 to FY 2027-28). The scheme’s primary objective is to revitalize and nurture the Guru-Shishya parampara, focusing on the traditional skills of artisans and craftspeople who work with their hands and tools.
The scheme also aims to enhance product and service quality, expand outreach, and integrate Vishwakarma into both domestic and global value chains.
Key Highlights Of the PM Vishwakarma Scheme
| Aspect | Details |
|---|---|
| Scheme Name | PM Vishwakarma Yojana |
| Launched By | Prime Minister Narendra Modi |
| Launch Date | 17th September 2023 |
| Budget | Rs. 13,000 crore |
| Duration | 5 years (FY 2023-24 to FY 2027-28) |
| Objective | Strengthen traditional artisan skills |
| Support | – Credit up to Rs. 2 lakh at 5% interest |
| – Skill Upgradation | |
| – Toolkit Incentive | |
| – Incentive for Digital Transactions | |
| – Marketing Support | |
| Trades Covered | Carpenter, Boat Maker, Blacksmith, and more |
| Official Website | launch after 17th September |
Key Components of PM Vishwakarma Scheme
Recognition and Support for Artisans:
Artisans and craftspeople will receive recognition through the PM Vishwakarma certificate and ID card.
They will also be provided with Credit Support, initially up to Rs.1 lakh (First Tranche) and subsequently up to Rs.2 lakh (Second Tranche) with a concessional interest rate of 5%.
| Financial Support | Initial Tranche | Second Tranche | Interest Rate |
|---|---|---|---|
| Amount | Up to Rs. 1 lakh | Up to Rs. 2 lakh | 5% |
| Repayment | Required | Required |
Skill Upgradation:
The scheme includes provisions for skill enhancement, ensuring that artisans and craftspeople can improve their techniques and capabilities.
Toolkit Incentive:
Artisans will receive incentives for obtaining and utilizing toolkits that are essential for their respective crafts.
Incentive for Digital Transactions:
Encouragement will be given for embracing digital transactions, and helping artisans and craftspeople modernize their business operations.
Marketing Support:
The scheme also provides assistance in marketing, enabling artisans to promote and sell their products more effectively.
Coverage of PM Vishwakarma Scheme 2024
The scheme targets artisans and craftspeople across both rural and urban areas throughout India. In its initial phase, the PM Vishwakarma Scheme will encompass eighteen traditional trades. These trades include:
- Carpenter (Suthar)
- Boat Maker
- Armourer
- Blacksmith (Lohar)
- Hammer and Tool Kit Maker
- Locksmith
- Goldsmith (Sonar)
- Potter (Kumhaar)
- Sculptor (Moortikar, stone carver), Stonebreaker
- Cobbler (Charmkar)/ Shoesmith/Footwear artisan
- Mason (Rajmistri)
- Basket/Mat/Broom Maker/Coir Weaver
- Doll & Toy Maker (Traditional)
- Barber (Naai)
- Garland maker (Malakaar)
- Washerman (Dhobi)
- Tailor (Darzi)
- Fishing Net Maker
By including these diverse trades, the scheme aims to support a wide range of artisans and craftspeople in preserving and thriving in their traditional vocations.
PM Vishwakarma Yojana Vs. UP Vishwakarma Shram Samman Yojana
One major difference is that the “PM Vishwakarma” Scheme operates nationally, covering artisans across India, while the “Vishwakarma Shram Samman Yojana” is specific to Uttar Pradesh, offering support to local artisans in the state.
| Aspect | PM Vishwakarma Scheme | Vishwakarma Shram Samman Yojana (U.P.) |
|---|---|---|
| Scheme Origin | Central Sector Scheme approved by Cabinet Committee | State-level scheme initiated by U.P. Chief Minister |
| Duration | 5 years (FY 2023-24 to FY 2027-28) | – |
| Objective | Strengthen traditional artisan skills, integrate with value chains | Promote the development and self-employment of labourers |
| Trades Covered | 18 traditional trades | Carpenters, tailors, basket weavers, barbers, goldsmiths, blacksmiths, potters, confectioners, cobblers |
| Support | Credit support, skill upgradation, toolkit incentive, digital transactions, marketing support | 6 days of free training, financial assistance for setting up small industries |
| Geographical Coverage | Across India | Focused on Uttar Pradesh |
| Beneficiaries | Artisans and craftspeople in rural and urban areas | Local artisans and traditional artisans in the U.P. |
| Financial Assistance | Credit up to Rs. 2 lakh at 5% interest | Financial assistance ranging from Rs. 10,000 to Rs. 10 lakh |
| Artisan Categories Supported | Various artisan categories | Carpenters, tailors, basket weavers, barbers, goldsmiths, blacksmiths, potters, confectioners, cobblers |
| Scheme Reach | Aims for national integration in value chains | Focus on development within Uttar Pradesh |
| Scheme Initiator | Central Government | Uttar Pradesh State Government |
PM Vishwakarma Yojana Registration 2024 Apply Online
PM Vikas Yojana will launch on 17th September 2023. The government has not launched any PM Vishwakarma Yojana official website portal for applying online.
Once it launches you can apply online or can visit near CSC VLE for registration.
