The Central Government operates the Pradhan Mantri Vishwakarma Yojana. This program helps artists and other craftspeople advance by providing them with skill training and low-interest loans that come with no guarantees. The central government offers low-interest loans to craftsmen under the Pradhan Mantri Vishwakarma Yojana, but there is no guarantee. In addition, these artists receive support in the form of incentives for digital transactions, toolkit incentives, and marketing help.

Under the program, 2.58 crore applications were filed.

The central government’s PM Vishwakarma Yojana, which aims to support artisans and craftspeople including as carpenters, masons, and tailors, has advanced quickly. Under the program, 2.58 crore applications have been filed. Based on information gathered by the National Skill Development Corporation (NSDC), out of these, 23.75 lakh applicants have been successfully registered to avail the benefits under the scheme after a three-stage verification process. The government offers subsidies at an interest rate of 8%.

Through e-vouchers, almost 10 lakh people have benefited from toolkit incentives worth up to Rs 15,000 to purchase contemporary equipment for their businesses. A total of Rs 551.80 crore in loans have been approved for 56526 applicants as of July 29, 2024. The government provides a subsidy on the loan, which has an interest rate of 5%. The Indian government lowers the overall cost of loans by offering an 8% interest subsidy. The loan can be paid back in 18 months for the first installment and 30 months for the second. PM Last September 17th was the launch day of the Vishwakarma Yojana.

Formal training has begun in the form of skill training.

with the intention of helping to artisans and craftsmen of 18 occupations to work with their hands and tools. Formal training in the form of basic skill training has been started in 26 states / union territories of the country under the PM Vishwakarma Yojana to upgrade and modernize the traditional skills of artisans and craftsmen. Under the scheme, PM Vishwakarma certificate and ID card, skill upgradation, toolkit incentives, loan assistance, incentives for digital transactions and marketing assistance are provided.

A loan is offered with an annual interest rate of 5%.

The primary advantage of the PM Vishwakarma Yojana is that it allows competent individuals who are struggling financially to apply for a loan in order to launch their own business. In this case, the qualified candidate receives a loan of up to Rs 3 lakh. The firm is started with a loan of one lakh rupees in the first phase, and it can then be expanded with a loan of up to two lakh rupees in the second phase. The interest rate on this loan is only 5% annually.

How do I apply?

• First of all go to the official website of the scheme pmvishwakarma.gov.in.
• PM Vishwakarma Kaushal Samman Yojana will be visible on the home page.
• Click on the Apply Online option given on it.
• Here you have to register yourself by entering the relevant information.
• Registration number and password will come on your mobile via SMS.
• Now login and fill the registration form carefully.
• Scan and upload all the documents asked with the form.
• Submit the completely filled form after checking it thoroughly.

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