Interest Subsidy Scheme, 2017
By Directorate of Industries, Trade and Commerce, Government of Goa
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Quick Answer
This scheme by the Goa DITC provides interest subsidy on term loans and working capital loans for manufacturing and eco-tourism units, incentivizing financial viability with enhanced benefits for women and SC/ST applicants.
- Funding amount
- Up to ₹27.5L
- Funding type
- Subsidy
- Application deadline
- Rolling
- Location
- Goa
- Registrations needed
- Udyam registration
About this subsidy
The "Interest Subsidy Scheme, 2017" was launched by the Directorate of Industries, Trade and Commerce (DITC), Government of Goa. The primary objective of this scheme is to incentivize eligible enterprises, particularly those in manufacturing and hinterland eco-tourism, to enhance their financial viability. It achieves this by providing an interest subsidy on term loans and/or working capital loans obtained from specified financial institutions.
The scheme is designed to support industries that contribute to local employment, requiring a minimum engagement of 60% Goan manpower. Maximum benefits are capped at ₹25,00,000 per annum, with an enhanced ceiling of ₹27,50,000 per annum for enterprises led by women or Scheduled Caste/Scheduled Tribe applicants. This aims to promote inclusive growth and support specific demographic groups within Goa's entrepreneurial landscape.
The subsidy covers a portion of the interest paid on both term loans and working capital loans, calculated as a percentage of interest paid or total turnover, whichever is less, ensuring that the financial assistance directly reduces the burden of loan interest for eligible units. The scheme emphasizes adherence to a clear set of eligibility criteria and application processes to ensure transparent and effective disbursement of benefits.
Eligibility
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Full eligibility criteria — entity type, stage, sector, founder profile and registration requirements — plus your fit for this program. Sign up to view.
Subsidy providers
Benefits & Funding
- Amount
- Up to ₹27.5L
What You Get
- Interest Subsidy on Term Loans: The scheme provides a subsidy calculated to the extent of 30% of the interest paid on eligible term loans, subject to the overall scheme ceiling.
- Interest Subsidy on Working Capital Loans: For working capital loans, the subsidy is calculated as 1.5% of the total turnover or 30% of the interest paid by the unit, whichever is less.
- Maximum Annual Benefit: The total subsidy payable is capped at ₹25,00,000 per annum.
- Enhanced Benefit for Specific Categories: For enterprises with all women applicants, or those led by Scheduled Caste/Scheduled Tribe applicants, the maximum annual subsidy is increased to ₹27,50,000 per annum. These benefits are calculated on a pro-rata basis for partial year claims.
- Disbursement
- Reimbursement
- Bootstrap friendly
- Yes
Timelines & Process
Applications
Rolling basis
Selection Process
Applications are subject to scrutiny and recommendation by a Task Force Committee. This committee includes the Director, Department of Tourism, as a member, in addition to other members specified in the Umbrella Scheme. The committee reviews the submitted applications and documents to ensure compliance with the scheme's eligibility criteria before making recommendations for approval.
Application Process
- 1
Download Form
Applicant downloads the prescribed application form.
You - 2
- 3
- 4
How to apply
Four steps from draft to disbursement — one action each.
- 1
See the questions before you start
Download every question this programme's application form asks, so you can prepare your answers offline before opening the portal.
- 2
Line up your documents
Keep every document from the checklist ready in one folder. Missing docs are the #1 reason applications get bounced.
- 3
Submit on the official portal
Use the official application link and verify all details before final submission.
- 4
Follow up
Reach out 5–7 days after submitting to confirm receipt and ask about the review timeline.
Program templates & documents
Files the program publishes for applicants — download these and apply in the prescribed format.
Frequently Asked Questions
What kind of loans are eligible for the interest subsidy?
The scheme provides interest subsidy on both term loans and working capital loans availed from specified nationalized banks, scheduled private banks, Co-operative Banks, Economic Development Corporation Limited, or RBI-recognized Non-Banking Financial Institutions.
What is the maximum subsidy an enterprise can receive?
The maximum annual subsidy is ₹25,00,000. However, for units with all women applicants or those led by Scheduled Caste/Scheduled Tribe applicants, the maximum annual subsidy is enhanced to ₹27,50,000.
Are there any specific employment requirements?
Yes, the eligible industry must engage a minimum of 60% of Goan manpower on regular employment.
How is the interest subsidy calculated?
For term loans, the subsidy is 30% of the interest paid. For working capital loans, it's 1.5% of the total turnover or 30% of the interest paid, whichever is less.
What is the maximum period for which the subsidy can be granted?
The period of grant of subsidy shall not exceed seven years, which corresponds to 27 continuous quarters after the first claim is submitted.
Can an application be filed if the unit has multiple branches?
If an applicant has more than one unit with a consolidated balance sheet, a Chartered Accountant certificate detailing unit-wise interest must be submitted, and claims should only be made for the eligible unit.
