Published on Jul 13, 2026
The PM Vishwakarma Scheme is a Government of India initiative that offers traditional artisans collateral-free loans of up to Rs. 3 lakhs in two phases, skill training with a daily stipend, toolkit support, and a concessional interest rate of 5%. It covers 18 family-based traditional trades, from carpentry to pottery, and you can apply through Common Service Centres using your Aadhaar and other basic details.
Launched on 17 September 2023, the PM Vishwakarma Scheme (Pradhan Mantri Vishwakarma Yojana) is a Central Sector Scheme run by the Ministry of Micro, Small and Medium Enterprises. It supports artisans and craftspeople who work with their hands and traditional tools.
The aim is to strengthen their livelihoods by improving their skills, the quality of their products and their access to markets. It combines recognition, skill training, affordable credit, and marketing support under a single framework and is scheduled to run for five years initially, from 2023–24 to 2027–28.
The scheme is built around a few clear goals for the artisan community:
The scheme is meant for self-employed artisans in the unorganised sector who work with their hands and tools. As per the PM Vishwakarma Yojana details, you need to meet a few conditions:
Additionally, only one member per family can take the benefits, and government employees and their immediate family members (spouse and unmarried children) are not eligible. You also cannot apply if you have taken a loan under similar schemes such as PMEGP, PM Swanidhi or Mudra in the last five years.
The scheme covers 18 family-based traditional trades. If your work falls into one of these categories, you can register.
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Trades Covered |
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Carpenter (Suthar) |
Boat Maker |
Armourer |
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Blacksmith (Lohar) |
Hammer and Tool Kit Maker |
Locksmith |
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Goldsmith (Sonar) |
Potter (Kumhaar) |
Sculptor / Stone Breaker |
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Cobbler / Footwear Artisan |
Mason (Rajmistri) |
Basket / Mat / Broom Maker / Coir Weaver |
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Traditional Doll and Toy Maker |
Barber (Naai) |
Garland Maker (Malakaar) |
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Washerman (Dhobi) |
Tailor (Darzi) |
Fishing Net Maker |
The core of the scheme is its collateral-free credit, known as the Enterprise Development Loan. You can borrow up to Rs. 3 lakhs in two phases, so the support grows as your business does. The first instalment of up to Rs. 1 lakh is available once you finish basic training. The second instalment of up to Rs. 2 lakhs follows if you have used the first loan well, kept a clean loan account, adopted digital transactions, or completed advanced training.
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Loan Instalment |
Tenure |
Condition |
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Up to ₹1 lakh |
18 months |
After basic training |
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Up to ₹2 lakhs |
30 months |
After using the first loan and meeting follow-up conditions |
The table below sets out the PM Vishwakarma loan scheme amount, structure, rate, and subsidy at a glance.
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Feature |
Details |
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Total loan amount |
Up to ₹3 lakhs |
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First tranche |
Up to ₹1 lakh, 18-month tenure |
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Second tranche |
Up to ₹2 lakhs, 30-month tenure |
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PM Vishwakarma interest rate |
5% (concessional) |
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Government interest subvention |
8% |
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Collateral |
Not required |
The scheme goes well beyond credit. As a registered artisan, you also receive:
The PM Vishwakarma application process runs mostly through a Common Service Centre (CSC), which handles the digital steps for you. The process works as follows:
Your application is then verified at the Gram Panchayat or urban local body level, followed by a District Implementation Committee and a Screening Committee. This check confirms your PM Vishwakarma scheme eligibility before approval.
Keep these documents ready before you visit the CSC, so the PM Vishwakarma registration goes smoothly:
For those who have long worked outside the formal system, this traditional artisan government scheme offers several practical gains:
Avoid the following common errors when availing of this artisans’ loan scheme in India:
The scheme has scaled steadily since its 2023 launch. More than 8 lakh artisans have availed of skill training, and over 6 lakh beneficiaries have been supported with loans and modern equipment to raise their productivity.
The government continues to widen training drives, push digital adoption and strengthen marketing links, with implementation running through 2027–28. Check the official portal for the most recent figures and announcements.
Although the scheme offers useful support for artisans, the phased loan structure and capped funding may not fully meet the needs of businesses that have expanded beyond a household setup. Larger plans such as upgrading machinery, increasing inventory, hiring workers, or setting up a bigger workshop may require higher funding. In such situations, a business loan can provide additional financial support for expansion and working capital needs.
Before applying for additional financing, artisans should understand the business loan documents required by lenders, which may include identity proof, business proof, income records, and bank statements. Keeping these documents organised can help simplify the application and approval process.
The PM Vishwakarma Scheme gives traditional artisans a rare combination of recognition, training, affordable credit and market access in one place. With collateral-free loans of up to Rs. 3 lakhs at concessional interest rates, plus toolkit and digital support, it lowers the barriers that have long held craftspeople back.
For funding needs beyond the scheme limits, SMFG India Credit offers unsecured funds of up to Rs. 75 lakhs* at attractive business loan interest rates.
Use our business loan eligibility calculator to assess how much you may be able to borrow and apply online.
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More on Government scheme: |
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* Please note that this article is for your knowledge only. Loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms, disbursal process, foreclosure charges and foreclosure process will be subject to SMFG India Credit's policy at the time of loan application. If you wish to know more about our products and services, please contact us
It is a Central Government scheme launched in September 2023 that supports traditional artisans and craftspeople through skill training, collateral-free credit, toolkit assistance, digital incentives and marketing support.
Self-employed artisans aged 18 or above who work with hands and tools in one of the 18 covered trades can apply. Only one member per family is allowed, and those who took similar government loans in the last five years are excluded.
You can get collateral-free loans of up to ₹3 lakhs in two tranches, ₹1 lakh for 18 months and ₹2 lakhs for 30 months, at a concessional 5% interest rate with an 8% government subvention.
Visit your nearest Common Service Centre, complete mobile verification and Aadhaar e-KYC, fill in the artisan registration form, and apply for benefits once your application is verified and approved.
The scheme covers 18 trades, including carpenter, blacksmith, goldsmith, potter, cobbler, tailor, mason, barber, toy maker, and others working in family-based traditional crafts.
Yes, artisans may apply for a business loan if they require additional funds beyond the scheme limits, subject to meeting the eligibility criteria. Before borrowing, it is advisable to use a business loan EMI calculator to estimate monthly repayments and plan finances more effectively.
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