PM Vishwakarma Calculator
The PM Vishwakarma Calculator helps artisans and craftspersons check their eligibility, calculate loan EMIs, and estimate total benefits under the PM Vishwakarma Yojana — a Central Sector scheme launched by the Ministry of MSME on September 17, 2023 (Vishwakarma Jayanti).
The scheme provides recognition, skill training, a Rs 15,000 toolkit grant, collateral-free loans at 5% interest (Rs 1 lakh + Rs 2 lakh), and digital transaction incentives to artisans in 18 traditional family-based trades.
As of September 2026, 30 lakh artisans have registered, 24.4 lakh completed training, 18.2 lakh received toolkits, and 6.2 lakh received loan sanctions totaling Rs 5,316 crore.
What this calculator does
| Tab | Function |
|---|---|
| 1. Eligibility | Answer 7 questions to check if you qualify |
| 2. Loan EMI | Calculate monthly EMI at 5% vs market rate (12%) |
| 3. Benefits | Total monetary value of all scheme benefits |
Official sources
- Portal: pmvishwakarma.gov.in
- Ministry: Ministry of Micro, Small and Medium Enterprises (MoMSME)
- Scheme outlay: Rs 13,000 crore (FY 2023-24 to FY 2027-28)
Note: All data on this page is based on official PM Vishwakarma guidelines and the government portal as of September 14, 2026.
Formula
**Eligibility:** Age 18+, engaged in 1 of 18 trades, unorganized sector, no prior govt loans (5 years), one member per family, not a government servant. **Loan EMI** (reducing balance): EMI = P x r x (1+r)^n / ((1+r)^n - 1) Where P = principal, r = monthly interest rate, n = tenure in months **At 5% (PM Vishwakarma):** r = 0.004167 **At 12% (Market):** r = 0.01 **Total Benefits:** Toolkit (Rs 15,000) + Stipend (days x Rs 500) + Interest Saving + Digital Incentive (transactions x months x Rs 1)
Example
**Loan EMI Example — First Tranche:** Loan: Rs 1,00,000 | Tenure: 18 months | Rate: 5% At 5%: EMI = Rs 5,765/month | Total interest = Rs 3,770 | Total repayment = Rs 1,03,770 At 12%: EMI = Rs 6,062/month | Total interest = Rs 9,116 | Total repayment = Rs 1,09,116 **Interest saving: Rs 5,346** **Benefits Example:** Toolkit: Rs 15,000 Training stipend (5 days): Rs 2,500 Interest saving: Rs 5,346 Digital incentive (50 trans x 12 months): Rs 600 **Total direct benefit: Rs 23,446**
How to Use
- Go to Tab 1 (Eligibility) and answer all 7 questions to check if you qualify
- Go to Tab 2 (Loan EMI) and select your loan tranche (Rs 1L or Rs 2L)
- The EMI calculator shows your monthly payment at 5% vs market rate 12%
- Go to Tab 3 (Benefits) to see the total monetary value of all scheme benefits
- Download CSV or print the report for your records
Frequently Asked Questions
What is PM Vishwakarma Yojana?
PM Vishwakarma is a Central Sector scheme launched by the Ministry of MSME on September 17, 2023. It provides recognition, skill training, toolkit grant of Rs 15,000, collateral-free loans at 5% interest (Rs 1 lakh + Rs 2 lakh), and digital transaction incentives to artisans and craftspersons in 18 traditional family-based trades in the unorganized sector.
Who is eligible for PM Vishwakarma?
You are eligible if: (1) you are an artisan or craftsperson working with hands and tools in one of the 18 listed trades, (2) you are at least 18 years old, (3) you are engaged in the trade on the date of registration, (4) you have not availed loans under PMEGP, PM SVANidhi, or Mudra in the past 5 years, (5) no other family member has registered, (6) you are not a government servant, and (7) you work in the unorganized sector (self-employed).
What is the interest rate on PM Vishwakarma loans?
The interest rate charged to the beneficiary is 5% per annum. The Government of India provides an interest subvention of 8% (the difference between the lending bank's rate and the 5% charged to the artisan). Credit guarantee fees are also borne by the Government of India, so the artisan pays no collateral or guarantee fees.
How much loan can I get under PM Vishwakarma?
You can get two tranches of collateral-free Enterprise Development Loans: First tranche of Rs 1,00,000 with 18 months repayment, and a second tranche of Rs 2,00,000 with 30 months repayment (available only after the first loan is fully repaid).
What is the toolkit incentive under PM Vishwakarma?
The scheme provides a one-time toolkit incentive of Rs 15,000 as a grant. This is not a loan and does not need to be repaid. The artisan receives modern tools relevant to their trade after completing basic training.
How much is the training stipend?
Artisans receive Rs 500 per day as a training stipend. Basic training is 5-7 days (40 hours), and optional advanced training is up to 15 days (120 hours). So a person attending 5 days basic + 15 days advanced would receive Rs 10,000 in stipend.
How do I register for PM Vishwakarma?
You can register through Common Service Centres (CSCs), or through the official portal at pmvishwakarma.gov.in. You will need Aadhaar, bank account details, trade-related information, and identity proof. Registration is free of cost.
Is PM Vishwakarma data on this page official?
Yes. All data on this page is sourced from the official PM Vishwakarma portal (pmvishwakarma.gov.in) and the official scheme guidelines PDF, accessed on September 14, 2026. We do not include speculative or unconfirmed information in the calculator.