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.
