PM Vishwakarma Yojana: ₹3 Lakhs Loan and Free Training for Traditional Craftsmen
The PM Vishwakarma Yojana launched by the central government aims to support traditional craftsmen with loans, tool kits, and training. This initiative provides a critical boost in enabling artisans to modernize their practices and expand their business.
Highlights
- •- ₹3 lakhs loan without any guarantee
- •- Tool kits worth ₹15,000 for each recipient
- •- Free skill training sessions provided
- •- Targeted at traditional craftsmen
The central government's PM Vishwakarma Yojana is a pivotal initiative launched in September 2023 to provide financial support, skill training, and modern tools to traditional craftsmen. This program aims at revitalizing India's heritage crafts by offering ₹3 lakhs loans without any guarantee, tool kits worth ₹15,000, and free training sessions.
Eligibility Criteria & Benefits
Craftsmen registered under this scheme can apply for a loan ranging from ₹50,000 to ₹3 lakhs with an interest rate of 4.75% per annum. The loan is intended to help them upgrade their equipment and tools, expand production, and improve the quality of their craft. Additionally, artisans receive tool kits valued at ₹15,000 to invest in high-quality materials and machinery.
Moreover, participants are provided with free training sessions covering marketing, product design, digital marketing, and other modern techniques that enhance their business acumen. These workshops help traditional craftsmen stay relevant amidst global competition and expand their market reach.
Note: This financial aid is targeted at micro-entrepreneurs in the craft sector who are facing financial challenges due to limited access to banking services and outdated equipment.
