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PM Vishwakarma Scheme 2026: 18 Trades, Loans & Benefits
Formally launched on 17 September 2023 (Vishwakarma Jayanti) by Prime Minister Narendra Modi, the PM Vishwakarma Scheme is a Central Sector Scheme with a total financial outlay of ₹13,000 crore covering five fiscal years (FY 2023–24 to FY 2027–28). Implemented jointly by the Ministry of MSME, Ministry of Skill Development & Entrepreneurship, and Department of Financial Services, it aims to preserve traditional family-based crafts while providing modern toolkits, financial support, and digital market access to traditional artisans.
Table of Contents
- 1. Launch Date, Nodal Ministry & Outlay
- 2. Complete List of 18 Covered Traditional Trades
- 3. Key Benefits: Certification, Training, Toolkits & Loans
- 4. Credit Support Structure (₹3 Lakh Loan at 5%)
- 5. Eligibility Criteria & 3-Tier Verification Process
- 6. Progress Report till July 2026
- 7. Master Summary Table
- 8. Must Remember Points for Quick Revision
Key Takeaways & Exam Highlights
- Launch Date: 17 September 2023 | Period: FY 2023–24 to FY 2027–28.
- Budget Outlay: ₹13,000 crore.
- Covered Trades: 18 traditional family-based craft trades.
- Toolkit E-Voucher: Up to ₹15,000 e-voucher for acquiring modern toolkits.
- Skill Stipend: ₹500/day during basic (5–7 days) and advanced (15 days) skill training.
- Collateral-Free Loan: Up to ₹3 Lakh in two tranches (1st Tranche: ₹1 Lakh for 18 mos; 2nd Tranche: ₹2 Lakh for 30 mos) at 5% concessional interest rate (8% Govt Subvention).
- Portal:
pmvishwakarma.gov.in.
1. Launch Date, Nodal Ministry & Outlay
Approved in August 2023 and launched on 17 September 2023, PM Vishwakarma provides end-to-end holistic support to traditional artisans in rural and urban India.
2. Complete List of 18 Covered Traditional Trades
| Category | Covered Traditional Trades |
|---|---|
| Wood / Marine | 1. Carpenter (Suthar), 2. Boat Maker |
| Metal / Arms | 3. Armourer, 4. Blacksmith (Lohar), 5. Hammer & Tool Kit Maker, 6. Locksmith, 7. Goldsmith (Sonar) |
| Clay / Stone | 8. Potter (Kumhaar), 9. Sculptor / Stone Carver / Stone Breaker |
| Leather / Building | 10. Cobbler (Shoemaker), 11. Mason (Rajmistri) |
| Weaving / Toys | 12. Basket / Mat / Broom Maker / Coir Weaver, 13. Doll & Toy Maker (Traditional) |
| Personal Services / Net | 14. Barber (Naai), 15. Garland Maker (Malakaar), 16. Washerman (Dhobi), 17. Tailor (Darzi), 18. Fishing Net Maker |
3. Key Benefits: Certification, Training, Toolkits & Loans
- PM Vishwakarma Certificate & ID Card: Provides formal recognition as a certified artisan.
- Skill Upgradation: Basic training (5–7 days) and Advanced training (15 days) with ₹500 per day stipend.
- Toolkit Incentive: ₹15,000 e-voucher for modern tools.
4. Credit Support Structure (₹3 Lakh Loan at 5%)
Collateral-free enterprise development loans up to ₹3 lakh in two tranches: Tranche 1 (₹1 Lakh for 18 months) and Tranche 2 (₹2 Lakh for 30 months). Fixed interest rate of 5% to beneficiary with 8% government interest subvention.
5. Eligibility Criteria & 3-Tier Verification Process
Self-employed artisans aged 18+ in unorganized sector. Verification conducted via Gram Panchayat/ULB level, District Implementation Committee, and State Level Screening Committee.
6. Progress Report till July 2026
Over 30 lakh artisans registered on pmvishwakarma.gov.in with ₹5,000+ crore in collateral-free loans sanctioned across states like Karnataka, UP, and Maharashtra by July 2026.
7. Master Summary Table
| Feature | PM Vishwakarma Policy Parameter |
|---|---|
| Formal Launch | 17 September 2023 |
| Financial Outlay | ₹13,000 Crore (FY24 to FY28) |
| Trades Covered | 18 Traditional Family Trades |
| Skill Stipend | ₹500 / day during training |
| Toolkit Incentive | ₹15,000 E-Voucher |
| Credit Support | Up to ₹3 Lakh (₹1L + ₹2L) at 5% Concessional Interest |
| Official Portal | pmvishwakarma.gov.in |
8. Must Remember Points for Quick Revision
Quick Revision Summary:
- Launched: 17 September 2023 | Outlay: ₹13,000 crore.
- Trades: 18 traditional trades covered.
- Toolkit: ₹15,000 e-voucher + ₹500/day training stipend.
- Credit: ₹3 lakh total (₹1L + ₹2L) collateral-free at 5% interest.
- Portal:
pmvishwakarma.gov.in.
Frequently Asked Questions (Exam FAQ)
What is the collateral-free loan amount and interest rate under PM Vishwakarma?
The scheme provides up to Rs 3 lakh collateral-free enterprise loans in two tranches (Rs 1 lakh first tranche + Rs 2 lakh second tranche) at a concessional interest rate of 5%, supported by an 8% government interest subvention.
How many traditional trades are covered under PM Vishwakarma Scheme?
The scheme covers 18 traditional family-based trades including Carpenter, Boat Maker, Armourer, Blacksmith, Locksmith, Goldsmith, Potter, Sculptor, Cobbler, Mason, Basket Maker, Doll Maker, Barber, Garland Maker, Washerman, Tailor, and Fishing Net Maker.
What toolkit incentive is provided to beneficiaries?
Every verified artisan receives a toolkit incentive e-voucher of up to Rs 15,000 alongside a daily stipend of Rs 500 during skill training.
Sources: Ministry of MSME, pmvishwakarma.gov.in, PIB Releases.
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