Who the scheme is for
PM Vishwakarma is for artisans and craftspeople who work with their hands and tools in a family-based traditional trade, on a self-employed basis. It covers 18 trades:
- Carpenter (Suthar), boat maker, armourer, blacksmith (Lohar), hammer and tool kit maker, locksmith
- Goldsmith (Sonar), potter (Kumhar), sculptor / stone carver / stone breaker, cobbler / footwear artisan
- Mason (Rajmistri), basket / mat / broom maker / coir weaver, traditional doll and toy maker
- Barber (Naai), garland maker (Malakar), washerman (Dhobi), tailor (Darzi), fishing net maker
What you get
- Recognition: a PM Vishwakarma certificate and ID card
- Skill training: basic training (about 5–7 days) and optional advanced training, with a stipend of ₹500 a day
- Toolkit incentive: up to ₹15,000 as an e-voucher for modern tools
- Credit: collateral-free loans at a concessional 5% a year, with the government paying up to 8% of the interest to the lender
- Incentives for digital transactions and help with marketing
The loan in two parts
| Tranche | Amount | Repayment |
|---|---|---|
| First | Up to ₹1 lakh | 18 months |
| Second | Up to ₹2 lakh | 30 months |
The first tranche comes after the basic training. The second is for borrowers who have used the first, kept the loan account regular, taken up digital transactions or done the advanced training.
Eligibility
- Aged at least 18 on the date of registration
- Working in one of the 18 trades on the date of registration
- Not taken a loan under a similar central or state government credit scheme for self-employment (such as PMEGP, PM SVANidhi or Mudra) in the last five years; Mudra and SVANidhi borrowers who have fully repaid can still apply
- Only one member per family can benefit; people in government service and their families cannot
How to register
- Visit a Common Service Centre (CSC) with your Aadhaar and mobile number. Registration is done with Aadhaar-based verification on the official portal.
- Your application is checked at the gram panchayat or urban local body level, then by district and state committees.
- After approval, you get the certificate and ID, are called for training, and can then apply for the loan through a bank.
If you need more than the scheme gives
The scheme's loan is meant for tools and a small working capital. For a bigger amount to grow your workshop or shop, a regular business loan from banks and NBFCs is another route.
Oxon Fintech is not a government agency and does not take applications for this scheme. Apply on the official portal or at a bank branch, and be careful of anyone who asks for money to get a scheme loan approved. Scheme rules change; check the official site before you apply.