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PM Vishwakarma Yojana- Rural Workers can Now get Easy Loans Upto 1 Lakh Rs, Apply Now

PM Vishwakarma Yojana offers accessible loans to individuals involved in traditional occupations, enabling them to initiate their ventures. The scheme's commencement is scheduled for September 17, 2023.

PM Vishwakarma Yojana- Rural Workers can Now get Easy Loans Upto 1 Lakh Rs, Apply Now
PM Vishwakarma Yojana- Rural Workers can Now get Easy Loans Upto 1 Lakh Rs, Apply Now

PM Vishwakarma Yojana, recently unveiled by Prime Minister Modi during the 77th Independence Day celebrations at the Red Fort, stands as a pioneering initiative. This scheme is designed to extend support to individuals who practice their livelihoods under the Guru-shishya tradition.


By offering loans of up to one lakh rupees at highly favorable terms, the program aims to catalyze the growth of these artisans and provide them with resources to expand their businesses and increase their earnings. This article emphasizes PM Vishwakarma Yojana's benefits, the rate of interest that will be charged, and the application process in full detail.


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PM Vishwakarma Yojana seeks to address the challenges faced by skilled workers, both in terms of accessing capital and expanding their enterprises. Notably, the scheme promises easy access to bank loans up to one lakh rupees, empowering artisans to initiate or multiply their creative ventures, and fostering financial independence and self-reliance.


Key Benefits of PM Vishwakarma Yojana


Targeted Urban Reach

Small-town artisans engaged in traditional vocations will be the prime beneficiaries of PM Vishwakarma Yojana.


Affordable Loan Facility

The scheme facilitates bank loans at a low-interest rate, easing financial constraints and enabling artisans to thrive in their work.


Enhanced Work Environment

Financial assistance through PM Vishwakarma Yojana aims to enhance the working conditions of artisans, propelling their productivity.


Skill Development Emphasis

The scheme places significant focus on upskilling artisans, providing them with training, insights into new equipment, and innovative designs.


Equipment Support

The scheme extends support for the purchase of equipment, assisting artisans in modernizing their tools and techniques.


Recognition and Identity

Successful completion of training under PM Vishwakarma Yojana earns artisans a distinguished certificate or identity card, validating their skills.


Market Access Facilitation

Beneficiaries gain facilitated market access, helping them bridge the gap between production and demand.




PM Vishwakarma Yojana encompasses skilled individuals practicing various traditional crafts such as pottery, barbering, floristry, blacksmithing, and more. This initiative is particularly advantageous for Scheduled Castes (SC), Scheduled Tribes (ST), Backward Classes, Women, and Weaker Sections. The scheme extends loans ranging from Rs 1 lakh to Rs 2 lakh, depending on the scope of work.


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Loan Interest and Financial Allocation

  • The scheme remarkably reduces the interest burden on artisans, offering loans at an impressively low 5 percent per annum. 
  • The government's commitment to this initiative is exemplified by the allocation of Rs 13,000 crore for the scheme. 
  • Spanning five years from 2023-24 to 2027-28, PM Vishwakarma Yojana demonstrates a long-term commitment to the artisan community's progress.


Course Offerings and Skill Enhancement


  • Under PM Vishwakarma Yojana, two comprehensive courses are available for artisans – the foundational program and the advanced course. 
  • The former provides training in the respective craft, while the latter introduces artisans to new designs, technologies, and equipment. 
  • The completion of these courses is rewarded with an amount of Rs 500, further motivating artisans to enhance their skills.

Application Essentials and Process


Although official application details are yet to be released, PM Vishwakarma Yojana holds the promise of transforming the lives of artisans. Applicants can anticipate submitting essential documents such as Aadhaar and PAN cards, income and age certificates, domicile proof, and bank details. 


The scheme's launch on Vishwakarma Jayanti on September 17, 2023, reflects the government's commitment to nurturing the creative spirit of skilled artisans and securing their financial futures.


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PM Vishwakarma Yojana is a symbol of recognition and support for the artisans who have played an integral role in shaping our cultural identity. The scheme will prove to benefit rural workers. PM Vishwakarma Yojana heralds a new era of possibilities, where age-old crafts meet modern opportunities, ensuring a legacy that will continue to shine brightly for years to come.


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