AI SummaryGoa State 25 Subsidy for Self Employed Scheme offers a 25% subsidy on fixed capital investment to individuals, partnership firms, and groups who have taken loans for approved self-employment projects. The scheme is open for new applications through the Directorate of Industries, Trade, and Commerce, Government of Goa, and helps business owners build fixed assets like premises, plant and machinery, and office equipment.
This scheme encourages self-employment in Goa by reducing the money burden on people who start industrial or commercial ventures with bank loans. Eligible applicants get the subsidy credited to their loan account when they repay their equated monthly installments on time. More Goa state schemes are listed on the Goa government schemes page.
25 Percent Subsidy for Self Employed - Introduction
Goa State 25 Subsidy for Self Employed Scheme is run by the Directorate of Industries, Trade, and Commerce, Government of Goa. It provides a 25% subsidy on fixed capital investment to individuals, partnership firms, and groups of individuals who have taken loans for approved self-employment projects.
Applications are submitted to the Economic Development Corporation, EDC House, Panaji, Goa. The Task Force Committee reviews each request and recommends it for subsidy approval. The scheme supports people who maintain regular loan repayments while developing industrial or self-employment activities.
Key Information
| Scheme Name | Goa State 25 Subsidy for Self Employed Scheme |
|---|---|
| Level | State |
| Beneficiary | Individual and Business Entity |
| Category | Business and Entrepreneurship |
| Benefit Type | Cash Subsidy |
| Nodal Department | Directorate of Industries, Trade, and Commerce, Government of Goa |
Benefits
Eligible people get a 25% subsidy on fixed capital investment for approved industrial and self-employment activities. This support helps with premises, plant and machinery, furniture and fixtures, office equipment, electrification, and alternate power sources.
| Item | Coverage Status |
|---|---|
| Plant and Machinery | Covered |
| Furniture and Fixtures | Covered |
| Office Equipment and Electrification | Covered |
| Alternate Power Sources | Covered |
| Raw Materials and Consumables | Not Covered |
Beneficiaries of the Dr. Verghese Kurien Rojgar Yojana or the Revised Chief Minister's Rojgar Yojana get an amount equal to 20% of their Equated Monthly Installments (about 25% of the principal) credited directly to their loan account when they pay on time. If a loan is pre-closed within one year of the first disbursement, the subsidy paid during that period is reversed and debited to the loan account.
Eligibility
To qualify for this scheme, applicants should meet these conditions:
- The applicant must be an individual, a group, or a partnership firm.
- The loan must be taken from a nationalized bank, scheduled commercial bank, cooperative bank, or a registered credit society.
- Total family income, including the spouse, must not exceed ₹3,00,000 per annum.
- The applicant should have passed at least the 7th grade.
- The applicant must be below 42 years of age, with a relaxation of 5 years for women, persons with disabilities, and SC/ST/OBC candidates.
- The applicant should be a resident of Goa for at least 15 years.
Business activity must not involve tobacco, alcohol, or fall in the Red Category. If someone already gets an equivalent subsidy of 25% or more from another government scheme, they cannot apply for this one.
Application Process
Applications are submitted physically at the Economic Development Corporation, EDC House, Panaji, Goa. Beneficiaries of the Chief Minister's Rojgar Yojana or Dr. Verghese Kurien Rojgar Yojana are covered automatically and do not need to apply separately.
STEP 1 - Get the prescribed application form from the Economic Development Corporation office at EDC House, Panaji.
STEP 2 - Fill in the form and attach the receipt for the ₹25 form cost and the ₹200 non-refundable processing fee.
STEP 3 - Submit the completed application package to the Managing Director at the EDC House, Panaji.
Once submitted, the Task Force Committee reviews the request and recommends it for subsidy approval.
Documents
Keep these documents ready while applying:
- Payment receipt for the ₹200 processing fee and ₹25 form cost.
- Proof of 15 years of residency in Goa.
- Educational certificates showing at least 7th standard.
- Age proof showing age below 42 years.
- Income certificate for the applicant and spouse with the limit of ₹3,00,000.
- Loan sanction documents from the bank or credit society.
- Caste or disability certificates, if claiming age relaxation.
- Statement showing the current loan status.
References
View Official Scheme Guidelines
FAQ's
If I receive benefits from another scheme, can I apply?
No, you cannot apply if you are already receiving a subsidy of 25% or more from another government scheme.
What is the income limit?
The combined gross annual income for you and your spouse must be ₹3,00,000 or less.
Are partnerships allowed to apply?
Yes, individuals, partnership firms, and groups of individuals are encouraged to apply for this subsidy.
What is the age limit for applicants?
Applicants should generally be below 42 years of age. Women, persons with disabilities, and SC/ST/OBC candidates get a relaxation of 5 years.
Do I need to apply if I am already under the CMRY scheme?
No, if you are already a beneficiary under the Chief Minister's Rojgar Yojana or Dr. Verghese Kurien Rojgar Yojana, you receive automatic coverage.
What if my business involves tobacco or alcohol?
Such businesses are strictly excluded from the subsidy program.
Is working capital covered under the subsidy?
No, the subsidy applies only to fixed capital investment like premises, plant and machinery, furniture, fixtures, and office equipment. Working capital, raw materials, and consumables are not covered.