The PM Vishwakarma is a Central Sector Scheme with a ₹13,000 crore outlay, launched by the Ministry of MSME to support traditional artisans. It integrates the One Station One Product (OSOP) initiative, providing Divyangjan artisans dedicated retail outlets at railway stations to enhance market access.
Core Pillars of PMV
- Samman (Recognition): Issuance of PM Vishwakarma Certificate and ID card.
- Samarthya (Capability): Skill training, modern design interventions, and toolkits.
- Samriddhi (Prosperity): Market integration, collateral-free credit, and digital transaction incentives.
Operational Framework
- Skilling: Includes 5-7 days of Basic Training and 15 days of Advanced Training. Participants receive a ₹500/day stipend via DBT.
- Toolkit Incentive: A ₹15,000 grant for modern tools post-basic training.
- Credit Support: Two-tranche loan system at a 5% concessional interest rate:
- Tranche 1: Up to ₹1 lakh (18 months tenure).
- Tranche 2: Up to ₹2 lakh (30 months tenure).
- Coverage: 18 identified trades spanning wood, iron, gold/silver, clay, stone, construction, leather, and general crafts.
Eligibility and Governance
- Criteria: Applicant must be 18+ years, in the unorganized sector, and self-employed.
- Exclusions: Government employees and those who availed similar credit (PMEGP, MUDRA) in the last 5 years are ineligible. Benefit is limited to one member per family.
- Verification: Three-stage process involving Gram Panchayat/ULB, District Committee, and Screening Committee.
IASPOINT Booster Facts
- Nodal Ministry: Ministry of Micro, Small and Medium Enterprises (MoMSME).
- Digital Incentive: ₹1 per transaction for up to 100 digital transactions/month.
- Collateral: No collateral required for the first loan tranche.