The industries department in Nagapattinam district is looking forward to according thrust for enabling marginal sections to derive utility of New Entrepreneur Cum Enterprise Development Scheme (NEEDS).
Now that the minimum eligibility for the scheme promoting first-generation entrepreneurship has been scaled down to Plus Two from undergraduation degree, there is a likelihood for receiving applications from more number of aspirants, P. S. Kamalakannan, General Manager, District Industries Centre, said.
Unlike, in the districts in the western region of the State where identifying prospective beneficiaries is not a difficult task, there is a need to reach out to the targetted beneficiaries in educational institutions in backward districts like Nagapattinam. The focus will be on identifying beneficiaries from among the marginalised categories such as SC/ST and minorities, Mr. Kamalakannan said.
The task is to identify more than targetted number of beneficiaries so that the banks will be able to identify those with the credit worthiness for eligibility.
During 2021-22, the subsidy disbursal under NEEDS was to the extent of ₹1.15 crore, and the objective was to scale up the reach of the scheme substantially, he said.
The beneficiaries are facilitated to conceptualise projects warranting investments from ₹10 lakh to ₹5 crore under NEEDS.
The maximum subsidy is 10 per cent of ₹50 lakh. There is also three percent interest subvention under this scheme.
The district administration has invited applications from eligible candidates under this scheme. The age limit is 21 to 35 years under general category applicants, and up to 45 years for those under marginalised / special category, District Collector A. Arun Thamburaj said in a press release.
Candidates could apply online at www.msmeonline.tn.gov.in/needs, the Collector said.
