If you want to start a small business but don’t have enough money, the PM Vishwakarma Yojana can support you.
This scheme by the Government of India offers loans of up to ₹3 lakh at a low 5% interest rate, and you don’t need to provide any collateral (like property or assets).
The main goal of the scheme is to help artisans and craftsmen become self-reliant.
Loan in Two Phases
The loan is given in two parts:
First Phase: ₹1 lakh, to be repaid in 18 months.
Second Phase: ₹2 lakh, to be repaid in 30 months.
Training, Stipend, and Toolkit Support
Before getting the loan, applicants receive training for a few days. During this time, they are given a daily stipend of ₹500.
They also receive ₹15,000 to buy a toolkit related to their trade.
The scheme is managed by the Ministry of Micro, Small and Medium Enterprises (MSME).
Who Can Apply and How?
Eligible Trades
People involved in 18 traditional trades can apply. These include:
Carpenters, boat makers, blacksmiths
Hammer/tool makers, goldsmiths, potters
Stone carvers, cobblers, masons
Carpet weavers, broom/basket makers
Washermen, tailors, fishing net makers, and others
How to Apply
Visit the official website: https://pmvishwakarma.gov.in
Click on “Applicant Login” to create your ID.
Fill out the application form and submit your details.
