EM PROJECTINCENTIVES AND SUBSIDIES OFFERED BY THE STATE GOVRRNMENT. JONLEN DESA T.Y.B.COM A CO8-312
INCENTIVE• INCENTIVE means encouraging productivity. It is a motivational force which makes an entrepreneur take a right decision & act upon it. Incentives include concessions, subsidies & bounties.
SUBSIDY• SUBSIDY denotes a single lump- sum which is given by the Government to the entrepreneur to cover the cost.
1) CAPITAL CONTRIBUTION SCHEME,2008• The scheme is designed to support local entrepreneurs & to promote industrial units.Objectives:1)To give financial assistance to local entrepreneurs.2)To support locally developed technology.3) To support existing functional units to venture out &expand.Quantum of assistance: It is subject to the budgetary provisions.
2)Preferential Purchase Incentives for Micro & Small Enterprise Scheme, 2008.• To give effect to the provisions of the said policy, the Govt of Goa has decided to formulate the Preferential Purchase Incentives Scheme for Micro & Small Enterprises.• Objective:To encourage & boost the Micro & Small Enterprises.
3)State Financial Incentives to the Industries for Certification and Patenting Scheme, 2008.• Units that obtain ISI & ISO certification or patent right on products need to be specially encouraged. Such units provide a benchmark of excellence & serve as a model for others to emulate.• Objectives:• 1. To encourage units to obtain ISI & ISO certification or patent rights in order to maintain good quality standard of products.• 2. To promote healthy qualitative industrial growth in Goa.• 3. To give a boost to the industrial units to achieve the benchmark of excellence & serve as a model for others to emulate.• Quantum of assistance: Rs. 200000 or the actual expenditure incurred, whichever is less.
4) Incentives to Encourage Consumption of Local Raw Material Scheme, 2008.• The main objective of this scheme is to encourage consumption of local raw material and thereby encouraging units, manufacturing such raw materials & to encourage the villages supplying such raw materials.• Eligibility: Only those units under green and specified orange category shall be eligible under this scheme.
5)Goa State Export Market Development Scheme,2008• Assistance is given through this scheme for industrial units engaged in exports & set up in Goa by providing assistance in the form of interest free loan.• Objectives: To encourage the Goan industries to improve their export market.• Quantum of loan: Maximum interest free loan will be provided up to Rs.5 lakhs under this scheme.
6) Interest Subsidy Scheme, 2008 This scheme is introduced for the Micro & Small Enterprises to boost the economic growth in Goa. A subsidy is provided on the interest payable by them.• Objectives:• 1) To encourage & boost the Micro & Small Enterprises.• 2) To provide incentives to small investors.• 3) To promote industrial growth in Goa. Quantum of subsidy:1.5% of total net turnover or 30% of interest paid by the units, whichever is less, subject to a ceiling of Rs 5 lakhs.
7) Incentive to Women Entrepreneurs Scheme, 2008.• This scheme is for the benefit of those units which have been set up by women entrepreneurs in Goa & to give them additional incentives.• Objective: To encourage women entrepreneurship & encourage women to start industries for self- employment.• Incentives:5 additional benefit + preference in capital contribution.
8) Goa State Employment Subsidy Scheme for Industries,2008.• This scheme has been introduced for the effective implementation of the new industrial policy & also for the benefit of the new as well as the existing units in Goa.• Objectives: To promote industrial growth in Goa. To revive the sick industrial units in Goa. To create a healthy environment for setting up new industrial units in Goa. To provide employment to the local youth.Subsidy: For Developed talukas-25% (In Red color) For Less Developed talukas-35% (In Green color) For sick units, subsidy is 25%(whole state)
9) Other incentives & subsidies offered by the Goa Government1. Employment subsidy.2. Share capital to self employed/ local entrepreneurs.3. Medical facilities scheme.4. Early bid offer.