Launched on 17 September 2023, PM Vishwakarma is a Central Sector Scheme providing end-to-end support to artisans and craftspeople working in 18 traditional trades. It offers recognition via PM Vishwakarma certificate and ID card, skill training, a toolkit incentive of ₹15,000, collateral-free credit up to ₹3 lakh in two tranches at 5% concessional interest, and digital and marketing support. The Ministry of Micro, Small and Medium Enterprises implements the scheme.

PM Vishwakarma addresses a structural gap in India's informal economy: traditional artisans in trades such as carpentry, blacksmithing, goldsmithing, pottery, and weaving possess generational skills but lack formal recognition, affordable credit, and market linkages. Without collateral, they are excluded from mainstream banking. The scheme's five-pillar design closes each gap systematically.

The credit architecture is particularly exam-relevant. Beneficiaries receive credit in two tranches: ₹1 lakh in the first tranche and ₹2 lakh in the second, both at a concessional rate of 5% per annum. The interest subvention is borne by the Central Government. This makes it a Direct Benefit Transfer-linked credit scheme, not a subsidy scheme, which is a critical distinction examiners probe.

The 18 eligible trades span carpentry (Suthar), boat making, armourer, blacksmith (Lohar), hammer and tool kit maker, locksmith, goldsmith (Sonar), potter (Kumhar), sculptor, cobbler (Charmakar), mason (Rajmistri), basket/mat/broom maker, doll/toy maker, barber (Naai), garland maker (Maalakar), washerman (Dhobi), tailor (Darzi), and fishing net maker. The breadth signals that the examiner can ask for the count (18) or test whether a specific trade is included.

For NABARD aspirants, the rural credit and livelihood angle is primary — the scheme targets artisans who overlap significantly with the rural poor and SHG ecosystems. For UPSC aspirants, the governance angle matters: it is a Central Sector Scheme (100% centrally funded), implemented by MoMSME, with delivery through Common Service Centres.