Of these, 23.75 lakh applicants have been successfully registered for receiving benefits under the scheme after the three-stage verification process, according to data compiled by the National Skill development Corporation (NSDC).

Close to10 lakh people have received toolkit incentives of up to Rs 15,000 through e-vouchers under the scheme to buy modern tools suitable for their occupation.

As of 29.07.2024, loan sanctions have been granted to 56,526 applications, totalling Rs 551.80 crore. The loan carries a 5 per cent interest rate, subsidised by the government. The Government of India provides 8 per cent interest subvention, effectively reducing the overall loan cost. The loan can be repaid over 18 months for the first tranche and 30 months for the second tranche.

The PM Vishwakarma Scheme was launched on Sept 17 last year to provide end-to-end support to artisans and craftspeople of 18 trades who work with their hands and tools. The objective of the scheme is to help traditional artisans and craftspeople to become entrepreneurs and self-reliant.

Formal training in the form of Basic Skill Training has been initiated for the upgrade and modernisation of traditional skills of artisans and craftspeople under the PM Vishwakarma Scheme across 26 States/UTs of the country.

The Scheme’s components include recognition through PM Vishwakarma Certificate and ID Card, Skill Upgradation, Toolkit Incentive, Credit Support, Incentive for Digital Transactions and Marketing Support. It is expected that the scheme will generate livelihood opportunities for artisans and craftspeople, enhance their skills, and integrate modern tools and technology into their work. Additionally, they will be provided with linkages to domestic and global markets.