In his second term, the Narendra Modi government introduced multiple initiatives aimed at directly aiding underprivileged citizens. Among these is the PM Vishwakarma Scheme, launched on September 17, 2023, with over 13 lakh registrations to date. Let’s explore its specifics.
The scheme covers 18 categories of businesses, involving skilled artisans and craftsmen using various tools and techniques. It includes blacksmiths, boat builders, weapon makers, locksmiths, goldsmiths, potters, sculptors (stone carving and cutting), stone breakers, and more. Additionally, it supports cobblers, tailors, makers of baskets, mattresses, and brooms, traditional toy and doll artisans, barbers, garland makers, washermen, tailors, and fishermen involved in crafting fishing nets.
Through the PM Vishwakarma scheme, individuals can avail loans up to ₹3 lakh without needing collateral. These loans come with a subsidized interest rate of 5% for durations ranging from 18 to 30 months, depending on the loan amount.
Those who have finished foundational training can receive up to ₹1 lakh as their initial loan installment. Subsequent installments are accessible to those who have used the first installment and maintained a regular loan account. Embracing digital transactions in their business is also mandatory.
For comprehensive details about the PM Vishwakarma scheme, visit pmvishwakarma.gov.in. For inquiries, contact 18002677777 or email pm-vishwakarma@dcmsme.gov.in.
