Use scheme with subsidy to start business: Collector

: Job-seeking youth with administrative skill should start their own manufacturing units under the State Government’s New Entrepreneur-cum-Enterprises Development Scheme (NEEDS), which guarantees heavily subsidised financial assistance, Collector C.Samayamoorthy has said.

Inaugurating an awareness programme for aspiring entrepreneurs at the Collectorate here on Wednesday, Mr.Samayamoorthy said during the current fiscal, loan approval had been given for four industrial units, which would prepare gooseberry juice, manufacture polyvinyl chloride pipes, paper cups and and undertake photo printing, which carried collective subsidy of Rs.20 lakh.

Aspirants in the age group of 21 to 35 years with the a degree certificate, diploma from polytechnic and an industrial trade certificate from an ITI could apply for the loan. The upper age limit will be relaxed by 10 years in case of women, Dalits, ex-servicemen, those from the most backward and backward communities, differently-abled, minorities and other backward community candidates.

Besides the 25 per cent subsidy (maximum Rs.25 lakh) permissible under NEEDS, the aspirants would be given value-added tax grant in case of micro manufacturing units and industries consuming low-tension electricity would be given 20 per cent power subsidy. For the purchase of diesel generators, 25 per cent subsidy would be allowed.

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