International Journal of Financial Management and Economics
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E-ISSN: 2617-9229|P-ISSN: 2617-9210
International Journal of Financial Management and Economics
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Vol. 8, Issue 1 (2025)

Study for Pradhan Mantri Vishwakarma Yojana (PMVY)


Pritam Bandal

Pradhan Mantri Vishwakarma Yojana has been launched by the Prime Minister to benefit more than 140 castes in the country. More than 17 types of artisans working in traditional ways are participating in this scheme. This scheme was launched on 17th September 2023 on the birth anniversary of Vishwakarma. People between the age group of 18 to 50 can participate in this scheme. Under this scheme, each beneficiary is getting a loan of Rs. 3 lakh at a rate of 5% from the government, and the beneficiary is also getting Rs. 15000 from the government for the purchase of relevant artisan skill tools. The beneficiaries of each scheme are also given free training in relevant skill-based profession by the government. The forms of Pradhan Mantri Vishwakarma Yojana are filled online. For this, the website https://pmvishwakarma.gov.in is used. No end date has been given for this scheme. Participation in this scheme till the year 2027- 2028 is possible.
The scheme provides incentives for skill category improvement tools, digital transactions and marketing assistance to benefit every needy and poor class with the aim of improving the economic condition of the poor citizens. The Ministry of Micro, Small and Medium Enterprises is the nodal ministry of the Pradhan Mantri Vishwakarma Yojana, to help people with traditional crafts and to keep alive the old traditions and diverse heritage through local products arts and crafts. It is an important activity.
The First such training program was launched earlier this month on the 6th of November 2023 in Delhi-NCR, in collaboration with NIESBUD, and then Five day residential training program will be conducted at the Indian institute for Entrepreneurship (IIE) from November 15th to 19th, 2023 and will train 65 master trainers from 6 different states, including Assam, Bihar, MP, West Bengal, Tripura and Odisha. Scheme aims to support these craftsmen with better and more modern tools as well as to make their work more efficient. The training & financial aid provided to these workers will help bridge the gap between conventional arts & modern technology. The inclusion of such a wide variety of arts & crafts in the scheme aligns with the Indian ones of unity in diversity of different art forms under the same umbrella. Most artisans are Dalit, Tribals, Backward communities or rural women whose mobility is restricted due to social or cultural norms. Through this plan, Guru Shishya tradition can be seen. It helps to increase the quality & product service.
Pages : 36-39 | 80 Views | 35 Downloads


International Journal of Financial Management and Economics
How to cite this article:
Pritam Bandal. Study for Pradhan Mantri Vishwakarma Yojana (PMVY). Int J Finance Manage Econ 2025;8(1):36-39. DOI: 10.33545/26179210.2025.v8.i1.447
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