The PM Vishwakarma Scheme, introduced by the Modi government, offers individuals in select traditional trades the opportunity to receive Rs 3 lakh without requiring any collateral or guarantee.

PM Vishwakarma's scheme will be funded by the Union government with an expenditure of ₹13,000 crore.

In both rural and urban areas of India, the program will support artisans and craftspeople

Five lakh families will be covered in the first year, and 30 lakh families will be covered in total over the course of five years, from FY24 to FY28.

18 conventional trades will be initially covered. Some of them are carpenters, boat builders, armorers, blacksmiths, makers of hammers and tool kits, and a host of other trades.

The program's primary goal is to increase the caliber and accessibility of the goods and services provided by artisans and craftspeople.

Secondary goal of this program is ensuring that they are integrated with the domestic and global value chains.

The scheme's beneficiaries will receive recognition in the form of a PM Vishwakarma certificate and ID card, as well as training in both basic and advanced skills.

(A) Toolkit incentive of ₹15,000

(B) Collateral-free credit support of up to ₹1 lakh (first tranche) and ₹2 lakh (second tranche) at 5% interest

Vishwakarma Scheme offers:

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