Entrepreneurial subsidy upto 40 lakhs
The department of Industries and Commerce declared revised subsidy for new MSMEs to encourage the entry of young talented entrepreneurs to the arena of Industry. The new project will be given up to 15 % subsidy of the fixed capital Investment.
These who seek assistance of financial institution as loan will be given subsidy at 50% (maximum up to 3 lakhs). As per the new entrepreneurial assistance, the general category gets 15% subsidy (upto 30 lakhs) and the SC, ST, Women and young entrepreneurs get 25% subsidy (upto 40 lakhs). The new ventures from backward districts viz, Kazargod, Pathanamthitta, Wayanad, Iduki will get on additional assistance up to 10% (maximum 10 lakhs). The same package will be given to those who acquired technical knowhow from recognised institution by State and Central Government. All the Capital Investment like land, buildings, machinery, power generating system are eligible for the scheme.