Coimbatore district, a hub for MSMEs and manufacturing units, is expected to surpass the government targets in the main schemes of the Union and State governments to promote entrepreneurship.
According to B. Karthigaivasan, general manager of the District Industries Centre, the subsidy target for the district under the NEEDS (New Entrepreneur Cum Enterprise Development Scheme) is ₹4.5 crore for 45 projects. The district has received applications from 27 people for ₹5.32 crore so far this financial year. “The Collector has asked us to go ahead and approve projects more than the target as Coimbatore is an industrial hub,” he said.
The DIC has recommended 27 applications for ₹5.32 crore support and 19 of it have been sanctioned. Sixteen projects have received ₹3.17 crore subsidy so far in the 2021-22 financial year, he said.
With regard to Unemployed Youth Employment Generation Programme (UYEGP), the target is to extend subsidy of ₹ 1.85 crore to 315 applicants. In the last five months, 33 applicants have been sanctioned subsidy of ₹36.52 lakhs and 27 of them have received totally ₹28.81 lakh. For the Prime Minister’s Employment Generation Programme, the target is to disburse ₹2.73 crore subsidy to 94 applicants. The DIC has already recommended 116 applicants for ₹2.95 crore subsidy and disbursed ₹81.96 lakh.
