Modi government provides collateral-free loans up to 3 lakhs

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The PM Vishwakarma Yojana, launched by the Modi government on 17 September 2023, has completed three years.
The scheme offers collateral-free loans of up to ₹3 lakh at a 5 percent interest rate to artisans in 18 trades such as carpentry, pottery and blacksmithy.
The loan is given in two stages, with ₹1 lakh to start a business and ₹2 lakh later for expansion, and beneficiaries also get a ₹15,000 toolkit and training with a ₹500 stipend.
So far over 30 lakh people have registered under the scheme, about 24.5 lakh have received skill training, and 18.15 lakh toolkits have been delivered.
The scheme matters because it helps skilled workers in rural and urban areas start or grow their own business without pledging any collateral.

Number of beneficiaries moving from registration to actual loan disbursement in the coming year.
Applicant eligibility is limited to ages 18 to 50 in the 18 notified trades, which may affect who can join.
Applications can be tracked on pmvishwakarma.gov.in, where registration numbers are sent by SMS.

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Named India · Government of India · Narendra Modi

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