Vishwakarma Yojana 2023 | Upto 2 Lakh Loan for Artisans and Craftsman 

On the occasion of the Vishwakarma Diwas, Prime Minister Narendra Modi has launched the Vishwakarma Yojana or PM VIKAS Yojana. The PM Vishwakarma Kaushal Samman Yojana seeks to provide assistance to artisans and individuals involved in small businesses. An ongoing budget of 15,000 crore has been announced for this scheme. The financial outlay will be till FY 2028. This scheme has been implemented on the occasion of Vishwakarma Diwas i.e. September 17, 2023. In this article, we are going to talk about PM Vishwakarma Yojana details.  

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Vishwakarma Yojana 2023

What is Vishwakarma Yojana 2023? | PM VIKAS Yojana 

Vishwakarma Yojana or PM Vishwakarma Kaushal Samman (PM VIKAS) Yojana is a welfare scheme for the OBC community who are engaged in traditional work with their hands with tools. Prime Minister Modi commended the initiative and expressed that it would enable small artisans to gain awareness about MSMEs and become a part of them. Within this program, assistance will be provided not only in terms of financial support but also in terms of training and the utilization of modern techniques. This scheme was first announced during the General Budger 2023-24 by the  Union Finance Minister Nirmala Sitharaman. 

  • Under the scheme, craftsmen will be provided with loans up to Rs 2 lakh at a low-interest rate of 5%. This will help them to start their own businesses or expand their existing businesses.
  • In addition to loans, craftsmen will also be provided with training in basic and advanced skills. This will help them to improve their skills and become more competitive in the market. They will also be given a stipend of Rs 500 per day while undergoing training.
  • Craftsmen will also be given a tool kit incentive of up to Rs 15,000. This will help them to buy the tools and equipment they need to start or expand their businesses. They will also be given marketing support to help them sell their products and services.
Vishwakarma Yojana 2023 Key Highlights 
Vishwakarma Yojana 2023 launch dateSeptember 17, 2023,
Vishwakarma Yojana 2023 Official WebsiteClick Here
Vishwakarma Yojana 2023 Budget for FY 2024-202813,000 to 15,000 Crore Rupees for 5 years
Vishwakarma Yojana 2023 ObjectiveTo help workers from the OBC community such as barbers, tanners, and blacksmiths.
Vishwakarma Yojana 2023 under which Ministry Ministry of Finance and Ministry of Micro, Small & Medium Enterprises
PM VIKAS Scheme full form PM Vishwakarma Kaushal Samman Yojana
Vishwakarma Yojana 2023 Loan Amount First Tranche: Rs 1 lakh (with an 18-month repayment period).
Second Tranche: Rs 2 lakh (with a 30-month repayment period).
Vishwakarma Yojana 2023 Interest Rate5%
Vishwakarma Yojana 2023 Stipend AmountRs 500 per day
Vishwakarma Yojana 2023 Tool Kit Amount15,000 rupees
Vishwakarma Yojana 2023 Helpline NumberYet to be announced

Vishwakarma Yojana 2023 Objective 

The main objective of the PM Vishwakarma Kaushal Samman Yojana 2023, initiated by the Indian government, is to provide economic support to the country’s traditional artisans and craftsmen, promoting growth in their production. This initiative aims to improve their economic status while also enhancing the quality and reach of their products through the MSME value chain.

The scheme not only offers financial assistance but also provides funding for training in new techniques. It empowers artisans from various traditional backgrounds, allowing them to adapt to modern skills and technologies. The scheme’s objectives include:

  • Acknowledge artisans and craftspeople as “Vishwakarma” for full Scheme benefits.
  • Enhance their skills through suitable training opportunities.
  • Provide modern tools to boost productivity and product quality.
  • Facilitate collateral-free credit access with interest subvention.
  • Promote digital transactions and empower Vishwakarmas digitally.
  • Create a platform for brand promotion and market linkages to explore growth prospects.

The Vishwakarma Yojana will initially cover 18 traditional trades. These include:

  • Carpenter
  • Boat maker
  • Armorer
  • Blacksmith
  • Hammer and tool kit maker
  • Locksmith
  • Goldsmith
  • Potter
  • Sculptor
  • Stone breaker
  • Cobbler
  • Mason
  • Basket/mat/broom maker/coir weaver
  • Doll and toy maker
  • Barber
  • Garland maker
  • Washerman
  • Tailor
  • Fishing net maker

These trades are all important and have been practiced for generations in India. The PM Vishwakarma Kaushal Samman Yojana will help to preserve these traditional trades and ensure that they continue to be passed down to future generations.

Enhancing Future Income Through PM Vikas Yojana

The PM Vishwakarma Kaushal Samman Yojana has been introduced to support the country’s traditional artisans and craftsmen, who belong to a diverse range of over 140 castes, representing a significant portion of the population. This initiative aims to empower artisans with varied skills and cultural backgrounds by providing them with economic assistance. By aligning with the MSME value chain, the government ensures equitable pricing for its products. Furthermore, the scheme aims to establish better income opportunities for these artisans in the future. It not only focuses on enhancing product quality but also offers support in marketing and distribution, leading to improved market visibility and financial prospects for the artisans.

Vishwakarma Yojana 2023 Features

The PM Vishwakarma Yojana is a government scheme aimed at providing financial assistance, skill development, and support to individuals who are involved in traditional, artisanal, or skilled trades. The scheme focuses on empowering artisans, craftsmen, and skilled workers by offering various benefits to help them enhance their skills, access financial resources, and market their products effectively. Let’s break down the benefits of the PM Vishwakarma Yojana in detail:

Loans up to Rs 2 lakh at a low interest rate of 5%:

One of the key features of the Vishwakarma Yojana is the provision of loans to eligible individuals engaged in traditional or skilled trades. These loans can go up to a maximum amount of Rs 2 lakh. What sets this apart is the low-interest rate of 5%, which is considerably lower than typical interest rates offered by commercial banks. This lower interest rate helps reduce the financial burden on the beneficiaries, making it easier for them to start or expand their businesses.

Training in basic and advanced skills:

The scheme emphasizes skill development by offering training to beneficiaries in both basic and advanced skills relevant to their trades. This training aims to enhance their craftsmanship, improve techniques, and introduce them to modern and innovative practices. Skill development is crucial for ensuring the sustainability and competitiveness of traditional trades in a rapidly evolving market.

Stipend of Rs 500 per day while undergoing training:

To encourage artisans and craftsmen to participate in the training programs, the Vishwakarma Yojana provides a stipend of Rs 500 per day. This stipend helps cover the daily expenses of the beneficiaries while they are undergoing training. It serves as an incentive for individuals to invest their time and effort in skill enhancement.

Tool kit incentive of up to Rs 15,000:

Access to appropriate tools and equipment is essential for artisans and skilled workers to produce high-quality products efficiently. The scheme provides beneficiaries with a tool kit incentive, which can go up to Rs 15,000. This financial assistance helps artisans acquire the necessary tools and equipment required for their trade, further enabling them to improve their craftsmanship and productivity.

Marketing support:

In addition to skill development and financial assistance, the Vishwakarma Yojana offers marketing support to beneficiaries. Marketing is crucial for artisans to showcase their products to a wider audience and increase their market presence. The scheme may provide guidance on branding, packaging, and accessing various market channels, thereby helping beneficiaries effectively promote and sell their products.


PM Vishwakarma Yojana Benefits 2023


  • Granting of Vishwakarma recognition via an official Certificate and ID Card.

Skill Enhancement:

    • Skill verification followed by a 5-7 days (40 hours) Basic Training program.
    • Opportunity for interested candidates to enroll in a 15-day (120 hours) Advanced Training.
    • Provision of a Training Stipend at the rate of Rs 500 per day.

    Toolkit Incentive:

    • A grant of Rs 15,000 provided to support the acquisition of necessary tools.

    Credit Support:

    • Access to collateral-free Enterprise Development Loans:
      • First Tranche: Rs 1 lakh (with an 18-month repayment period).
      • Second Tranche: Rs 2 lakh (with a 30-month repayment period).
    • Favorable interest rates at 5%, with the Interest Subvention cap of 8% covered by MoMSME.
    • Credit Guarantee fees borne by the Government of India.

    Incentives for Digital Transactions:

    • An incentive of Re 1 per transaction, applicable for a maximum of 100 transactions on a monthly basis.

    Marketing Support:

    • The National Committee for Marketing (NCM) offers services including Quality Certification, Branding and promotion, E-commerce linkage, Trade Fairs, advertising, publicity, and other marketing initiatives.

    Skill Programme under Vishwakarma Yojana 

    The PM Vishwakarma Yojana is a program started by the government to help people who are skilled in traditional trades. They want to support artisans and craftsmen who work with their hands and tools to make things. The program will have two types of training – basic and advanced. While learning these skills, the people will receive a daily allowance of Rs 500 to help with their expenses.

    Additionally, the program will give them up to Rs 15,000 to buy modern tools which will make their work better and faster. In the first year, they will help 5 lakh families and over five years, they plan to help 30 lakh families (FY24 to FY28).

    The goal of this program is to keep alive the old tradition of passing skills from one generation to another (like how a teacher teaches a student). They also want to make sure that the things these skilled people create are of good quality and can be sold to more people. They want to connect these skilled workers to both local and international markets so that they can earn more and their work can reach more people.

    Vishwakarma Yojana Eligibility Criteria 2023 

    • Eligibility for PM Vishwakarma registration:
      • Artisans or craftspersons in traditional trades within the unorganized sector.
      • Self-employed basis.
      • Engaged in one of the 18 specified family-based traditional trades.
    • Minimum beneficiary age: 18 years at the time of registration.
    • No prior participation in similar government credit-based schemes (e.g., PMEGP, PM SVANidhi, Mudra) within the past 5 years.
    • Registration and benefits are limited to one family member, defined as the husband, wife, and unmarried children.
    • Government employees and their family members are ineligible for the Scheme.

    Vishwakarma Yojana 2023 Documentation Required

    • Aadhaar Card: This unique identification document, issued by the Indian government, contains biometric and demographic details that ensure precise identification of the applicant.
    • Proof of Identity: This encompasses documents such as a driver’s license, voter ID, or passport, serving as supplementary confirmation of the applicant’s identity.
    • Ration Card: An official document granting households access to essential commodities at subsidized rates, it can also validate the applicant’s residence and economic status.
    • Residence Certificate: Issued by local government authorities, this document verifies the applicant’s residential address, providing authenticity to their place of residence.
    • Income Certificate: By verifying the applicant’s income, this certificate assists the government in evaluating their financial background and determining the appropriate level of support.
    • Caste Certificate: Confirming the applicant’s caste, this certificate ensures that benefits are directed to specific targeted communities, fostering inclusivity.
    • Mobile Number: Providing an active mobile number is vital for communication purposes and to receive timely updates about the scheme.
    • Passport-sized Photograph: A recent passport-sized photograph of the applicant is necessary for official records and identification purposes.
    • Bank Account Details: Sharing bank account information is crucial for the seamless transfer of financial assistance under the PM Vishwakarma Kaushal Samman Yojana, guaranteeing direct benefit disbursement to eligible individuals.

    How to Apply for PM Vishwakarma Yojana 2023?

    To apply for the PM Vishwakarma Kaushal Samman Yojana, candidates will need to visit the official website of PM Vishwakarma which has been finally launched by the government.

    PM Vishwakarma Yojana 2023 FAQs

    What is PM VIKAS or Vishwakarma Yojana?

    Vishwakarma Yojana or PM Vishwakarma Kaushal Samman (PM VIKAS) Yojana is a welfare scheme for the OBC community who are engaged in traditional work with their hands with tools. The main objective of the PM Vishwakarma Kaushal Samman Yojana 2023, initiated by the Indian government, is to provide economic support to the country’s traditional artisans and craftsmen, promoting growth in their production.

    What is the launch date of Vishwakarma Yojana?

    The PM Vishwakarma Yojana has been launched on Vishwakarma Diwas i.e. September 17, 2023

    How much budget has been allocated for PM Vishwakarma Yojana 2023?

    A total of 13,000 to 15,000 crore has been allocated for the PM Vishwakarma Yojana 2023.

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