Bengaluru, 21 September 2024: Commemorating the first anniversary of the PM Vishwakarma Yojana, 180 beneficiaries from Karnataka received certifications and loans under this scheme at the National Skill Training Institute (NSTI) in Bengaluru today.

The PM Vishwakarma Scheme was launched on 17th September 2023 to offer comprehensive support to artisans and craftspeople who rely on manual labour and traditional tools. The scheme recognizes artisans and craftspeople as Vishwakarmas, making them eligible to avail all the benefits under the scheme. It provides skill upgradation and also facilitates easy access to collateral free credit at lower rates.

The scheme provides for collateral free ‘Enterprise Development Loans’ of upto Rs. 3 lakh in two tranches of Rs. 1 lakh and Rs. 2 lakh with tenures of 18 months and 30 months, respectively, at a concessional rate of interest fixed at 5%, with the Government chipping in with an interest subvention of 8%.

The scheme has been a huge success nationally with more than 20 lakh registrations, of which a whopping 25% was accounted for by Karnataka.

Marking the first anniversary of this scheme, Shri P.C. Mohan, Member of Parliament said, “The launch of the skill development initiative through the PM Vishwakarma Yojana is benefiting the country

by addressing the skill gaps in a targeted manner. For instance, Channapatna toys are gaining attention nationwide today, where artisans can access loans and other schemes with just their Aadhaar card. Under schemes like the Pradhan Mantri Vishwakarma Yojana, skilled workers can now get loans starting in two tranches, initially at ₹1 lakh, increasing to ₹2 lakh thereafter. These initiatives are transforming the landscape for small businesses and artisans.”

Speaking at the event, Shri Aravindan, Regional Director, Regional Directorate of Skill Development and Entrepreneurship (RDSDE), Karnataka observed, “The PM Vishwakarma is a wonderful scheme where there are tangible benefits for artisans in terms of enhancement of skill levels and access to markets and finance. In Karnataka itself, over 1.92 lakh individuals have basic skilling certifications under this scheme, with 4794 candidates currently undergoing training.”

The event was graced by Shri. PC Mohan, MP, Smt. Kanagavalli, IAS MD, KSDC, Shri. Shaik Mahmood, Regional Head, NSDC with support from National Skill Development Corporation (NSDC).

The PM Vishwakarma Scheme, targets 30 lakh beneficiaries across 18 traditional trades and focuses on skill upgradation, provision of modern tools, easy access to collateral-free credit, digital empowerment, and improved market linkages. Beneficiaries receive recognition through official certificates and ID cards, along with opportunities for both basic and advanced skill training accompanied by stipends. Additionally, it encourages digital adoption through transaction incentives and provides crucial marketing and branding support.

Implemented through a collaborative effort by the Ministries of MSME, Skill Development, and Finance, the scheme has shown significant progress in its first year. As of September 17, 2024, over 20 lakh Vishwakarmas have registered nationwide, with training initiatives spanning 29 states and 504 districts across the country. More than 8.57 lakh artisans have so far been trained and certified, while 6.5 lakh toolkits have been distributed. The scheme has also facilitated the sanctioning of loans totalling Rs. 1,400 crores. To ensure widespread accessibility, training content has been made available in 12 languages, further democratizing its reach.

The PM Vishwakarma Scheme represents a pivotal step in the government’s efforts to preserve India’s rich heritage of traditional crafts while simultaneously empowering artisans with modern skills, market access and financial support. By bridging the gap between age-old techniques and contemporary market frameworks, the scheme aims to create a sustainable ecosystem for these skilled craftspeople, enhancing their economic prospects and ensuring the continuity of their invaluable traditions.