PM Vishwakarma Yojana: Even today, millions of people in India possess skills, but financial constraints prevent them from pursuing their work. To help these people, the Central Government launched the Pradhan Mantri Vishwakarma Kaushal Samman Yojana. The scheme aims to not only provide financial assistance to traditional artisans and craftsmen but also to strengthen their skills.
What is the PM Vishwakarma Yojana?
Launched by Prime Minister Narendra Modi in September 2023, this scheme is designed to benefit people engaged in 18 traditional occupations across the country. These include carpenters, blacksmiths, goldsmiths, potters, barbers, and washermen. The scheme aims to elevate these traditional occupations to a new level through modern technology and training.
What are the benefits available under the scheme?
Under this scheme, beneficiaries are provided assistance of up to ₹15,000 to purchase the necessary toolkits for their work. Furthermore, artisans participating in the scheme receive advanced training to improve their skills. During this training, they also receive a daily stipend of ₹500.
Loan Facility in PM Vishwakarma Yojana
The most important feature of this scheme is the loan facility. The government provides loans in two phases. In the first phase, beneficiaries are given a loan of up to ₹1 lakh to start or expand their business. Once this loan is repaid on time, beneficiaries can receive an additional loan of up to ₹2 lakh in the second phase.
When is the loan repayment required?
The government has also set a loan repayment period. If you take a loan of ₹1 lakh in the first phase of the scheme, it must be repaid within 18 months. If you take a loan of ₹2 lakh in the second phase, the repayment period is 30 months.
The government has set this time limit to give beneficiaries sufficient time to stabilize their business and increase their income.
The true purpose of the scheme
Through this scheme, the government aims not only to provide financial assistance but also to empower artisans across the country to become self-reliant. This group of artisans has been the backbone of India’s tradition, culture, and rural economy, and now this scheme is giving them renewed confidence.
FAQs: Common Questions Related to the PM Vishwakarma Yojana
Question 1: Who can apply for the PM Vishwakarma Yojana?
Answer: Individuals engaged in traditional crafts or artisanship and running their own businesses can apply.
Question 2: Is the loan under the scheme interest-free?
Answer: No, but the interest rate on the loan is very low so that beneficiaries are not burdened.
Question 3: What happens if there is a delay in loan repayment?
Answer: If the loan is not repaid on time, interest or penalties may apply as per general banking rules.
Question 4: How can I apply?
Answer: You can apply through the official website of the PM Vishwakarma Yojana or through your nearest bank branch.
Disclaimer: This article is intended to provide readers with general information about this government scheme. The exact terms and procedure for the loan may change from time to time, so please consult the official website or the relevant department before applying.
