Subsidy to medium size organization for expansion/ diversification unit within municipal limits | Scheduled Caste promoters above 35 years of age.

Operated by
Industries and Mines Department-Industries Commissionerate, Government of Gujarat
Purpose
Capital & Interest subsidy to medium size organization owned by Scheduled Caste (SC) promoters who are above 35 years of age for expansion/ diversification within municipal limits.
Probable duration
01/01/2015 to 31/12/2019

Eligibility

  • The Enterprise should be registered as an industrial unit under MSME Development Act, 2006 with respective DIC as manufacturing enterprise in Municipal Corporation areas.
  • Eligible only on Loan Amount disbursed by the Bank/Financial Institution.
  • Only one expansion/diversification during an operative period of the scheme is eligible to new unit set up during operative period of the scheme of the scheme.
  • For interest subsidy, the enterprise must have obtained the first disbursement during the operative period of the scheme.
  • New enterprise should be registered during operative period of the scheme (1/1/2015 to 31/12/2019).
  • Enterprise should be a medium sized manufacturing unit within the municipal area limit.
  • Promoters of the firm should be from Scheduled Caste (SC) and above 35 years of age

Benefit Description

Subsidy on Capital investment and Credit linked Interest Subsidy to Medium Enterprises for expansion/diversification of manufacturing unit within municipal areas with Scheduled Caste (SC) Promoters/ Entrepreneurs above 35 years of age.

Application process

  • Please click on the following link for the application form: http://ic.gujarat.gov.in/documents/pagecontent/AF-01-scheme1.pdf
  • Other Details

    Conditions if Any
    • Old & second hand machinery will not be eligible for assistance.
    • Enterprise which has obtained first disbursement during the operative period of the scheme will eligible for the assistance.
    • In case term loan is sanctioned after one year from the date of commencement of commercial production, such enterprise will not eligible for subsidy under the scheme.
    • The Unit shall have to continue production at least for 5 years from the date of commencement of commercial production, and if, it fails to do so than subsidy already been disbursed will be recovered as land revenue arrears.
    • Eligible only on Loan Amount disbursed by the Bank/Institution.
    • Total quantum of Capital Subsidy (State + Central) in any case shall not exceed the total loan amount disbursed by the bank/Financial Institutes.
    • Enterprise shall have option for date of availment of interest subsidy either from the date of first disbursement of the loan or from the date of commencement of commercial production. This opted date will be final and period of 5 year will start from that date.
    • The interest subsidy will be reimbursed to the enterprise who pays regular installments and interest there of to the financial institution. If the enterprise becomes defaulter for any period, it will not be eligible for reimbursement of interest subsidy for that default period.
    • In case term loan is sanctioned after one year from the date of commencement of commercial production, such enterprise will not eligible for Interest subsidy under the scheme.
    • Total quantum of Interest Subsidy (State + Central) in any case shall not exceed the total loan amount disbursed by the bank/Financial Institutes
    More Information
    Annexure Link:
    # Please click here for common check list for Capital Subsidy, Interest Subsidy, CGTMSE fees & Rent assistance: http://ic.gujarat.gov.in/documents/pagecontent/CL-01-scheme1.pdf 
    # Please click on the following link prescribed format for Bank Certificate for CGTMSE: http://ic.gujarat.gov.in/documents/pagecontent/CL-01-scheme1.pdf 

    Link:
    http://ic.gujarat.gov.in/incentive-schemes.aspx#collapseOne 

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