PM Vishwakarma Yojana is a scheme run by the Government of India to provide holistic and end-to-end support to artisans and other craftsmen by offering them collateral-free credit and skill training. Under the PM Vishwakarma Yojana, the Centre provides loans to craftsmen at low interest rates without any guarantee.
Besides, these artisans also get support in form of toolkit incentive, marketing support and incentive for digital transaction.
A loan of 3 lakh is available at low interest under the scheme
Under the PM Vishwakarma Yojana, a loan of Rs 1 lakh is given in the first phase to start a new business. After this, in the second phase, there is a chance to get an additional Rs 2 lakh. Apart from this, financial assistance of Rs 15,000 is also given. This scheme provides a loan of up to Rs 3 lakh at only 5 percent interest rate, which aims to promote business.
Also read: PM Vishwakarma 1 year report card: How Rs 13,000 crore scheme fared; know key benefits
Benefits of the PM Vishwakarma scheme
Training is given for 18 traditional skill businesses included in this scheme, in which a stipend of Rs 500 per month is given. Any Indian citizen between the age of 18 to 50 years can apply in this scheme.
How to apply for the scheme
Interested persons can apply by visiting the official website of this scheme pmvishwakarma.gov.in. The application process will require several documents like Aadhar card, PAN card, income and caste certificate, identity card, residence certificate, passport size photo, bank passbook and mobile number, so that citizens can get the right financial assistance. The benefits of this scheme can be easily availed from home, and no fee will have to be paid for this.
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