"Interest Subsidy (For Micro, Small, Medium and Large New Industries)" under "Motivation of Entrepreneurs to Start Industries and Fiscal Assistance to Industries - Various Incentives"

What is "Interest Subsidy (For Micro, Small, Medium and Large New Industries)" under "Motivation of Entrepreneurs to Start Industries and Fiscal Assistance to Industries - Various Incentives"?

Through this scheme, the industrial units availing loans from financial institutions towards the creation of fixed assets and for working capital shall be eligible for an interest subsidy to an extent of 25% of the annual interest amount paid. The applications are accepted offline.

Benefit

- **Subsidy:** Upto**** 25% of the annual interest amount paid.- **Admissibility:** From the date of commencement of commercial production.- **Ceiling:** ₹5,00,000/- per annum.- **Period:** 5 years for Puducherry and Karaikal, and for 7 years for Mahe and Yanam.- **Number of Installments:** In single or multiple instalments, depending on the availability of funds.- **Mode of Disbursement:** Through the financial institution.

Level

State — Puducherry

Ministry / Dept.

Industries and Commerce Department, Puducherry

Benefit type

cash

Key eligibility

- All the Micro, Small, Medium and Large Industries are eligible. - The Unit should have made the investment on or after 1st April 2017. - The unit should provide at least 60% of employment to the people of the Union territory of Puducherry of the total employment strength of the industrial units. T

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Benefits

- **Subsidy:** Upto**** 25% of the annual interest amount paid.- **Admissibility:** From the date of commencement of commercial production.- **Ceiling:** ₹5,00,000/- per annum.- **Period:** 5 years for Puducherry and Karaikal, and for 7 years for Mahe and Yanam.- **Number of Installments:** In single or multiple instalments, depending on the availability of funds.- **Mode of Disbursement:** Through the financial institution.

Eligibility

Documents Required

How to Apply

1. Step 1: Offline application — step 1

   Step 1: The industrial unit should register the claim for the grant of incentive/subsidy in the prescribed form available on the Official Website of the Directorate of Industries and Commerce, Puducherry.

2. Step 2: Offline application — step 2

   Step 2: In the application form, fill in all the mandatory fields, and attach copies of all the mandatory documents (self-attest, if required).

3. Step 3: Offline application — step 3

   Step 3: The unit should submit the duly filled and signed application form and the documents to the concerned authority.

4. Step 4: Offline application — step 4

   Step 4: Request a receipt or acknowledgement from the concerned authority to whom the application form has been submitted. Ensure that the receipt contains essential details such as the date and time of submission, and a unique identification number (if applicable).

5. Step 5: Offline application — step 5

   Post-Application Process

6. Step 6: Offline application — step 6

   Step 1: The applications shall be scrutinized by the Directorate of the Industries on a merit basis for the grant of incentives/subsidies/assistance to determine the quantum of amount admissible will be placed before the State Level Committee.

7. Step 7: Offline application — step 7

   Step 2: The State Level Committee will go into the merits of each case to decide whether the unit qualifies for the grant of incentive/subsidy and will recommend the quantum of incentive/subsidy admissible to the unit.

8. Step 8: Offline application — step 8

   Application Deadline

9. Step 9: Offline application — step 9

   For New Units

10. Step 10: Offline application — step 10

    Within one year from the date of commencement of obtaining the Entrepreneurs Memorandum Part-2/ Permanent Registration/ Commencement of Production Certificate.

11. Step 11: Offline application — step 11

    For Existing Units

12. Step 12: Offline application — step 12

    Within one year of completion of Expansion/ Diversification/ Modernization.

Sources & References

• Official scheme website ↗
• Source record ↗
• Information is summarised from official government sources. Verify all details on the official website before applying.