The number of beneficiaries who received government subsidy under New Entrepreneur cum Enterprise Development Scheme (NEEDS) in Coimbatore district last financial year was 85 as against the target of 63.
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According to the General Manager of District Industries Centre, B. Karthigaivasan, the target for the district in 2021-2022 for the scheme was disbursement of subsidy of ₹ 6.36 crore to 63 beneficiaries. However, 85 people received ₹ 18.47 crore subsidy for projects that involved totally ₹ 73.88 crore.
Further, about 405 people received ₹ 37.7 crore financial support under schemes for capital subsidy, interest, power, and quality certification subsidies. Of this, 344 MSME (Micro, Small and Medium-scale Enterprises) units received ₹ 32.30 crore capital subsidy and 46 units received ₹ 4.88 crore power subsidy.
Under the Prime Minister Employment Generation Programme (PMEGP) ₹ 2.71 crore subsidy was given for 81 projects as against the target of ₹ 2.73 crore and under the Unemployed Youth Employment Generation Programme (UYEGP), ₹ 1.45 crore subsidy was disbursed to 126 people for projects worth totally ₹ 5.8 crore as against the target of ₹ 1.85 crore, he said.