PM Vishwakarma Yojana 2024 Details, Benefits, Features & Eligibility (Launch 17 Sep 2023)

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 2023 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

AspectDetails
Scheme NamePM Vishwakarma Yojana
Launched ByPrime Minister Narendra Modi
Launch Date17th September 2023
BudgetRs. 13,000 crore
Duration5 years (FY 2023-24 to FY 2027-28)
ObjectiveStrengthen traditional artisan skills
Support– Credit up to Rs. 2 lakh at 5% interest
– Skill Upgradation
– Toolkit Incentive
– Incentive for Digital Transactions
– Marketing Support
Trades CoveredCarpenter, Boat Maker, Blacksmith, and more
Official Websitelaunch after 17th September
Source: PIB PM Vishwakarma Yojana

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 SupportInitial TrancheSecond TrancheInterest Rate
AmountUp to Rs. 1 lakhUp to Rs. 2 lakh5%
RepaymentRequiredRequired

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 2023

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.

AspectPM Vishwakarma SchemeVishwakarma Shram Samman Yojana (U.P.)
Scheme OriginCentral Sector Scheme approved by Cabinet CommitteeState-level scheme initiated by U.P. Chief Minister
Duration5 years (FY 2023-24 to FY 2027-28)
ObjectiveStrengthen traditional artisan skills, integrate with value chainsPromote the development and self-employment of labourers
Trades Covered18 traditional tradesCarpenters, tailors, basket weavers, barbers, goldsmiths, blacksmiths, potters, confectioners, cobblers
SupportCredit support, skill upgradation, toolkit incentive, digital transactions, marketing support6 days of free training, financial assistance for setting up small industries
Geographical CoverageAcross IndiaFocused on Uttar Pradesh
BeneficiariesArtisans and craftspeople in rural and urban areasLocal artisans and traditional artisans in the U.P.
Financial AssistanceCredit up to Rs. 2 lakh at 5% interestFinancial assistance ranging from Rs. 10,000 to Rs. 10 lakh
Artisan Categories SupportedVarious artisan categoriesCarpenters, tailors, basket weavers, barbers, goldsmiths, blacksmiths, potters, confectioners, cobblers
Scheme ReachAims for national integration in value chainsFocus on development within Uttar Pradesh
Scheme InitiatorCentral GovernmentUttar Pradesh State Government

e Shram Card Benefit In Hindi 2023 : ई श्रम कार्ड के लाभ जानिये

PM Vishwakarma Yojana Registration 2023 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.

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