PM Vishwakarma scheme: Eligibility, registration, incentives and more

Prime Minister Narendra Modi officially inaugurated the PM Vishwakarma scheme on his 73rd birthday on Sunday (September 17). The launch ceremony, held at the India International Convention and Expo Centre in Dwarka, also featured the release of 18 postage stamps and a Toolkit Booklet.

Here is a look at the main features and objectives of this scheme:

1. Eligibility: Any artisan or craftsperson who woks with hands and tools and is involved in one of the 18 family-oriented traditional trades specified in the scheme, within the unorganised sector and as a self-employed individual, qualifies for registration under the PM Vishwakarma Scheme.

2. Registration and biometric-based portal: Prospective beneficiaries can register for this scheme at no cost through common services centres using the biometric-based PM Vishwakarma portal. This ensures a streamlined and secure registration process.

3. Coverage of traditional trades: The scheme initially covers 18 traditional trades, which include carpenters (suthar), boat makers, armorers, blacksmiths, hammer and tool kit makers, locksmiths, goldsmiths, potters (kumhaar), sculptors, stone breakers, cobblers, masons, basket/mat/broom makers/coir weavers, doll and toy makers (traditional), barbers, garland makers, washermen, tailors, and fishing net makers.

4. Phased rollout: In its first year, the PM Vishwakarma scheme will benefit five lakh families. Over a span of five years, from FY24 to FY28, it is projected to reach a total of 30 lakh families.

5. Enhancing product and service quality: The primary focus of the scheme is to increase the quality and reach of products and services offered by artisans with an aim to integrate them into both domestic and global value chains.

6. Recognition and skill upgradation: Beneficiaries under the PM Vishwakarma scheme will receive a certificate and an ID card. Also, the scheme provides skill upgradation opportunities, including basic and advanced training, to increase the capabilities of artisans and craftspeople.

7. Toolkit incentive: A grant of Rs 15,000 will be given to acquire necessary tools and equipment.

8. Collateral-free credit support: Financial assistance of up to Rs 1 lakh (first tranche) and Rs 2 lakh (second tranche) at a concessional interest rate of 5% will be provided. This will help artisans access capital to expand their businesses.

9. Digital transaction incentives: The PM Vishwakarma scheme also encourages the adoption of digital payment methods.

10. Marketing support: The government is set to provide assistance in marketing and promoting artisans’ products to a wider consumer base.

The PM Vishwakarma Scheme is a big step towards preserving and revitalising India's rich tradition of craftsmanship, empowering artisans, and fostering economic growth in both rural and urban communities.