An orientation programme on the newly launched Annal Ambedkar Business Champion Scheme for promoting Scheduled Caste and Scheduled Tribe entrepreneurs was conducted by the District Industries Centre in Kallakurichi on Monday.
Chairing the meeting, Collector Sravan Kumar Jatavath said the scheme was to prepare Scheduled Caste and Scheduled Tribe youth to conceive business ideas with the knowledge that there was subsidy and financial support through the State government.
The State government had allocated ₹100 crore for the current fiscal to implement the scheme, he said.
Mr. Jatavath said the scheme to be implemented by the Micro Small and Medium Enterprises (MSME) would give 35% capital subsidy not exceeding ₹1.5 crore and 6% interest subvention to each beneficiary to start new manufacturing, service, or trade activity or expand the existing one.
Working capital sanctioned for the project would be eligible for interest subvention for a period not exceeding two years. While there is no minimum educational qualification mandated for applicants, they should be aged between 18 years and 55 years of age.
The Collector invited those interested to apply for the scheme on www.msmeonline.tn.gov.in or contact the office of the General Manager of the District Industries Centre in Kallakurichi in person for details.
