PM Vishwakarma Concessional Collateral-Free Enterprise Credit: Phase 1 (₹1 Lakh @ 5%)
First tranche collateral-free enterprise loan of ₹1 Lakh at a concessional 5% interest rate (with 8% central interest subvention) for certified traditional artisans.
Quick Eligibility Snapshot
₹Benefits & Entitlement Breakdown
📊Budget Allocation & Beneficiary Reach
Backed by total central outlay of ₹13,000 Crore under PM Vishwakarma
Official Budget Document ↗Over 20 Lakh traditional artisans certified with credit disbursements crossing ₹1,400 Crore
As of: 2026-01-20PIB / Official Citation ↗Verified Eligibility Criteria
Traditional artisans and craftspersons working with hands and tools in one of 18 identified family trades (one member per family).
Required Documents Checklist
Verify readiness before applying for PM Vishwakarma Concessional Collateral-Free Enterprise Credit: Phase 1 (₹1 Lakh @ 5%). Check off your papers or print this list before visiting your local CSC / Cyber Cafe.
Mandatory Documents(3)
Check off as readyKeep self-attested photocopies and clear digital scans (100 KB – 200 KB, PDF/JPG format) ready to avoid portal upload timeouts.
Worried About Application Rejection for PM Vishwakarma Concessional Collateral-Free Enterprise Credit: Phase 1 (₹1 Lakh @ 5%)?
Over 30% of applications on official portals get delayed or rejected due to minor certificate authority mismatches or unseeded bank accounts. Our civic research desk compiles a verified 1-page Scheme Blueprint tailored to your state and profile.
- ✓Valid issuing authority rules (Tehsildar/SDM)
- ✓Aadhaar-DBT bank seeding verification
- ✓Direct official portal guide (no middlemen)
- ✓Email delivery in 1–2 hrs during desk hours
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Application Effort & Process Friction
Readiness assessment derived from official prerequisites, mandatory documentation, and submission channels.
Effort scores reflect portal accessibility, mandatory document burden, and physical verification requirements.
How to Apply
- 1
Complete 3-tier digital verification (Panchayat/ULB level, District level, and Screening Committee) on pmvishwakarma.gov.in.
- 2
Complete mandatory 5 to 7 days Basic Skill Training and receive PM Vishwakarma digital certificate & ID card.
- 3
Apply for Phase 1 enterprise loan directly on portal or at designated bank branch.
- 4
Sanction and disbursement of ₹1,00,000 directly into beneficiary account without collateral.
✅Before You Begin — Pre-Application Checklist
⚠️Common Rejection Reasons — Avoid These
Age below 18 years, family member availing PM Vishwakarma, government employee in household, or failure of trade verification.
Official Government Application Portal
You will be redirected to the secure official portal: pmvishwakarma.gov.in
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Get Scheme Blueprint (₹49)→Frequently Asked Questions (Officially Sourced)
Verified answers sourced directly from official circulars, gazettes, and portal FAQs. Never AI-invented.
What is the interest rate charged to the artisan under PM Vishwakarma?
The effective interest rate charged to the artisan is only 5.0% per annum; the remaining interest (up to 8%) is paid by the Central Government as subvention.
Source: Official Scheme FAQ ↗What is the loan tenure for the first tranche?
The first tranche of ₹1,00,000 has a repayment tenure of 18 months.
Source: Official Scheme FAQ ↗Can I get this loan without taking the basic training?
No, completing the 5 to 7 days Basic Skill Training is mandatory before the loan application can be processed by banks.
Source: Official Scheme FAQ ↗Can I track my PM Vishwakarma Concessional Collateral-Free Enterprise Credit: Phase 1 (₹1 Lakh @ 5%) application status?
Application status for PM Vishwakarma Concessional Collateral-Free Enterprise Credit: Phase 1 (₹1 Lakh @ 5%) can typically be tracked through the official portal at pmvishwakarma.gov.in using your Aadhaar number, application reference number, or registered mobile number. Alternatively, contact the scheme helpline or visit your nearest Common Service Centre (CSC).
What should I do if my PM Vishwakarma Concessional Collateral-Free Enterprise Credit: Phase 1 (₹1 Lakh @ 5%) payment is delayed or rejected?
First, verify your Aadhaar-bank account seeding status on the NPCI mapper (npci.org.in). If seeding is confirmed and payment is still pending, register a complaint on the Central Public Grievance Redressal System at pgportal.gov.in. You may also file an RTI application at rtionline.gov.in to obtain official rejection reasons within 30 days.
Is there an income tax implication for receiving PM Vishwakarma Concessional Collateral-Free Enterprise Credit: Phase 1 (₹1 Lakh @ 5%) benefits?
Agricultural income and certain welfare subsidies may be exempt from income tax under Section 10 of the Income Tax Act, 1961. Tax treatment varies by scheme type and beneficiary income level. Consult a certified tax practitioner or visit incometax.gov.in for scheme-specific tax guidance.
Common Rejection Reasons & Warnings
Age below 18 years, family member availing PM Vishwakarma, government employee in household, or failure of trade verification.
Editorial Verification & Change Log
| Date | Field | Description / Update | Source Citation |
|---|---|---|---|
| 2026-10-19 | scheme_type | cs | Official Source ↗ |
| 2026-09-28 | initial_verification | Baseline verification of PM Vishwakarma Concessional Collateral-Free Enterprise Credit: Phase 1 (₹1 Lakh @ 5%) guidelines, benefits, and portal integration. | Official Source ↗ |
⚖Compare with Similar Schemes
Side-by-side eligibility, benefit, and effort comparison:
Application Window & Deadlines
Continuous open intake across all 18 traditional trades
🛟Grievance & RTI Channels
Scheme Intelligence
How is this calculated? ↗Verified 7d ago from .gov.in source
Apply online with minimal documents
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📅Scheme Milestone Timeline
Baseline verification of PM Vishwakarma Concessional Collateral-Free Enterprise ...
Official Source ↗Schemes You Can Stack With This
Complementary programs with non-conflicting eligibility that you can claim concurrently:
Official Helpline & Nodal Offices
Ministry of Micro, Small and Medium Enterprises
Udyog Bhawan, Rafi Marg, New Delhi 110011
Helpline: 011-23063800
Jurisdiction: NationalNotice a Discrepancy?
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Verification Metadata
Last verified by Eligo researchers on 2026-10-12 against official government documentation.
Eligo is an independent information platform unaffiliated with any government body. Always confirm latest terms directly on the official portal.