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PM Vishawakarma Scheme

Sl No


Salient Features



The objectives of the Scheme are

To enable the recognition of artisans and craftspeople as Vishwakarma making them eligible to avail all the benefits under the Scheme.

To provide skill upgradation to hone their skills and make relevant and suitable training opportunities available to them.

To provide support for better and modern tools to enhance their capability, productivity and quality of products.

To provide the beneficiaries an easy access to collateral free credit and reduce the cost of credit by providing interest subvention.

To provide incentives for digital transaction to encourage the digital empowerment of Vishwakarmas.

To provide a platform for brand promotion and market linkages to help them access new opportunities for growth.


Target Customer

As per Government guidelines 18 trades are covered under 
PM Vishwakarma Scheme for providing benefits to the artisans and craftspeople engaged in the trade.

The trades are

Carpenter (Suthar), Boat Maker, Armourer, Blacksmith (Lohar), Hammer and Tool Kit Maker, Locksmith, Sculptor (Moortikar, Stone Carver), Stone Breaker, Goldsmith (Sunar), Potter (Kumhaar), Cobbler (Charmakar)/Shoesmith/Footwear Artisan, Masons (Raaj Mistri), Basket/Mat/Broom Maker/Coir Weaver, Doll and Toy Maker (Traditional), Barber (Naai), Garland Maker (Malakaar), Washerman (Dhobi), Tailor (Darzi), Fishing Net Maker.



An artisan or craftsperson working with hands and tools and engaged in one of the family-based traditional trades in the unorganized sector on self-employment basis shall be eligible for registration under PM Vishwakarma.

The beneficiary should be engaged in the trades concerned on the date of registration and should not have availed loans under similar credit-based schemes of Central Government or State Government for self-employment/business development, e.g. PMEGP, PM SVANidhi, Mudra in the past 5 years. However, the beneficiaries of MUDRA and PM SVANidhi who have repaid their loan will be eligible under PM Vishwakarma. This period of 5 years will be calculated from the date of sanction of the loan.

The registration and benefits under the Scheme shall be restricted to one member of the family. For availing benefits under the Scheme, a ‘family’ is defined as consisting of husband, wife and unmarried children.

A person in government service and their family members shall not be eligible under the Scheme.


Age Criteria

The minimum age of the beneficiary should be 18 years on the date of registration.


Nature of Facility

Term Loan


Loan Quantum


Loan Amount

Tenure of Repayment
(In Months)

1st Tranche

Upto ₹1,00,000


2nd Tranche

Upto ₹2,00,000






Security Coverage


Hypothecation on assets created out of Bank finance.


Collateral security not required for this scheme.


Credit Score

Credit information report will be required for those who have a credit history for availing benefits under the credit component, so as to exclude any defaulter from again availing credit under the Scheme.

In case of a beneficiary not having a credit history, the Banks or Financial Institutions shall not exclude them from availing credit and they shall also not insist upon Credit Information Report.

There is no requirement of minimum CIBIL Score for loan under PM Vishwakarma Scheme.




Rate of Interest (RoI)

·  UCO Float Rate + 3.70% i.e. 9.30% + 3.70% = 13% p.a. at present.

·  Rate of interest chargeable for loans from beneficiaries will be fixed at 5%.

·  The interest subvention by the Government of India will be to an extent of 8%.


Validity of Scheme

PM Vishwakarma Scheme will be initially implemented for five years up to 2027-28.


Guarantee Coverage


First Loan

Second Loan





First Loss

0 to 7.5%


0 to 5%


Second Loss

Above 7.5% to 20%


Above 5% to



Third Loss

Above 20%

to 50%



Maximum Guarantee Cover



Effective Guarantee Cover




Guarantee Fee shall not be debited to the beneficiary account.


Other Terms and Conditions

Training Stipend

Each beneficiary shall be eligible to receive a training stipend of ₹500 per day while undergoing the Basic and Advanced Training programs.

Training stipend will be credited to the beneficiaries’ Bank account through DBT mode after training completion and certification by Ministry of Skill Development and Entrepreneurship (MSDE).

Toolkit Incentive

&A toolkit incentive of ₹15,000 will be provided to the beneficiary after Skill Verification at the start of Basic Training. The incentive shall be disbursed to the beneficiaries through e-RUPI/e-Vouchers which can be utilized at designated centres to procure improved toolkits.

Incentives for Digital Transaction

The Scheme aims to digitally empower the beneficiaries by facilitating them to adopt digital transactions. An amount of ₹1 per eligible digital transaction (upto a maximum of 100 eligible transaction) monthly will be credited to the beneficiary’s Bank account in DBT mode through Aadhaar Payment Bridge System (APBS). Eligible transaction means a digital pay-out or receipt in the Bank account of the beneficiary.

Asset Restructuring Module for MSMEs (ARM-MSME)


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