State Schemes for MSMEs

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Scheme Name: Interest Subsidy Scheme, 2017

State: Goa

Description of the Scheme: Incentivise units for making their enterprises financially viable.

Target group :

Sector of the Scheme:

Eligibility Criteria: 1. Micro, Small and Medium manufacturing industries listed under White category, Green category and Orange category, which have commenced production after 01/10/2017 are eligible.
2. The projects of Hinterland Eco tourism in lesser developed talukas registered with/ recognized by the Department of Tourism/ Goa IPB/ Town & Country Planning/PDA/Eco Sensitive Zone Authority will also be eligible to avail benefits under this scheme subject to fulfillment of all the other eligibility criteria.
3. Enterprises engaging a minimum of 60% of Goan manpower on regular employment are eligible for benefits under this scheme.
4. This Scheme is applicable to the enterprises which have availed loan as term loan and/or working capital loan for conducting business of the unit claiming the benefit, from any nationalized bank, scheduled private bank, Cooperative Bank, Economic Development Corporation Limited (EDC Ltd.) or any Non-Banking Financial Institutions recognized by the Reserve Bank of India and is restricted to interest paid to these organizations only.

Nature & Mode of Assistance:

  • Subsidy payable shall not exceed ceiling of Rs.25 lakh (Rs.27.50 lakh for all women and SC/ST applicants) per annum calculated on pro-rata basis for part of the year as claimed.
  • For claims of interest paid on term loan, subsidy will be calculated to the extent of 30% of the interest paid, subject to ceiling under this scheme. For claims of interest paid on working capital loan, subsidy will be calculated to the extent of 1½% of the total turnover or 30% of the interest paid by the units/enterprise, whichever is less.
  • The subsidy will be pro rata increasing from 60% to 100% in a continuous linear scale subject to 60% to 80% of Goan employment.

"Financial Information (Subsidy, low interest rate, etc.)":

"Other Assistance (Procurement of machinery, Technology /Marketing, International Cooperation, etc.)":

How to apply: https://www.goa.gov.in/wp-content/uploads/2019/07/Interest- Subsidy-Scheme-2017.pdf

Whom to Contact: Directorate of Industries, Trade and Commerce (DITC)

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