INVC NEWS
New Delhi : The central government, in its endeavor to support various segments of the country, has initiated numerous schemes, including the PM Vishwakarma Yojana, launched on 17 September 2023. Geared towards fostering entrepreneurship, this scheme offers loans at affordable interest rates to kickstart businesses, particularly focusing on enhancing traditional skills. Delving into the specifics, this article unveils the terms and conditions associated with PM Vishwakarma Yojana, shedding light on who can benefit and how to navigate the application process.
Understanding PM Vishwakarma Yojana
1. Scheme Overview
- Inception Date: 17 September 2023
- Loan Purpose: Facilitating the initiation of businesses through financial assistance
- Target: Artisans with traditional skills such as goldsmiths, blacksmiths, barbers, etc.
2. Loan Structure
- Two-phase loan disbursement: Rs 1 lakh in the first phase, Rs 2 lakh in the second phase
- Interest Rate: 5 percent
- Additional Benefits: Training, stipend of Rs 500 per day, Vishwakarma certificate, toolkit worth Rs 15,000
3. Eligibility Criteria
- Citizenship: Limited to Indian citizens
- Occupation: Only applicable to the 18 designated trades outlined by the government
- Age: Applicants must be between 18 to 50 years old
- Skill Certification: A prerequisite from a recognized institute
- Caste: Exclusive to individuals belonging to any of the 140 specified castes
Applying for PM Vishwakarma Yojana
1. Application Process
- Visit pmvishwakarma.gov.in
- Click on “Apply Online”
- Register and receive a confirmation message with the registration number and password on the provided mobile number
- Fill out the application form, ensuring accuracy
- Scan and upload necessary documents
- Submit the application after thorough verification
2. Necessary Documents
- Aadhar card
- Income certificate
- ID proof
- Caste certificate
- Bank passbook
- Mobile number
- Address proof
- Passport size photo
Conclusion
In conclusion, PM Vishwakarma Yojana stands as a significant opportunity for skilled artisans to receive financial aid and training for their businesses. By adhering to the specified terms and conditions, eligible individuals can pave the way for their entrepreneurial journey.
FAQs about PM Vishwakarma Yojana
- Who can apply for PM Vishwakarma Yojana?
- Only Indian citizens involved in one of the 18 designated trades can apply.
- What is the loan structure under the scheme?
- The loan is disbursed in two phases – Rs 1 lakh initially and Rs 2 lakh subsequently, with a 5 percent interest rate.
- What benefits come with the scheme besides the loan?
- Apart from the loan, beneficiaries receive training, a daily stipend, a Vishwakarma certificate, and a toolkit worth Rs 15,000.
- How can I apply for PM Vishwakarma Yojana?
- Visit pmvishwakarma.gov.in, register, fill out the application form, and submit it along with the required documents.
Is there an age limit for applicants?
- Yes, applicants must be between 18 to 50 years old to be eligible for PM Vishwakarma Yojana.
