Ministry of Micro,Small &Medium Enterprises,Govt of India has come up with a Scheme for Providing Financial Assistance to Coir units. This is a credit linked subsidy scheme for setting up of Coir Units with project cost upto Rs.10.00 lakhs plus one cycle of working capital which shall not exceed 25% of the project cost. Working Capital will not be considered for subsidy.
Rejuvenation, Modernization and Technology Upgradation of Coir Industry
- Any individual above 18 years of age with Indian Citizenship.
- There will be no income ceiling for assistance for setting up of project under Coir Udyami Yojana(CUY) Scheme.
- Assistance under the Scheme is only available for projects for the production of coir fibre / yarn / products etc. coming under coir sector.
- Assistance will be made available to individuals, Companies, Self Help Groups, NGO, Institutions registered under Societies Registration Act 1860, Production Co-operative Societies, Joint Liability Groups and Charitable Trust.
- The SC/ST, Women, North-East Region, Andaman and Nicobar Island and Lakswadweep beneficiaries will be given priority.
The funding pattern of the Scheme is:
Bank Loan / Credit Role – 55%
Government Grant (Margin Money – subsidy) – 40%
Beneficiaries Contribution – 5%
How to Apply:
The applications under the Scheme can be collected from Coir Board Offices, DICs, Coir Project Offices, Panchayati Raj Institutions and the Nodal Agencies approved by the Board for this purpose. The forms can also be downloaded from the Coir Board website and have to be submitted directly to the Coir Board Field Offices or through the DICs.
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