Tag: Highest­ever capital subsidy under NEEDS scheme


Highest­ever capital subsidy under NEEDS scheme  The TN State government has disbursed the highest­ever capital subsidy in 2022­23 under its flagship scheme NEEDS.  About NEEDS  New Entrepreneur­cum­Enterprise Development Scheme (NEEDS) is a State funded programme which aims to promote first-generation entrepreneurs. The scheme is run by the Micro, Small and Medium Enterprises (MSME) Department. Subsidy  Under NEEDS, the minimum project cost is ₹10 lakh and the maximum is ₹ 5 crore. The individual based capital subsidy under NEEDS is given at the rate of 25% of the project cost (not exceeding ₹75 lakh).  An additional capital subsidy at 10% of the project cost for SC/ST/differently­abled candidates is being given from 2021­-22 onwards. 15­ day training:  The selected candidates are imparted training for 15 days by the Entrepreneurship development and Innovation Institute. The minimum educational qualification prescribed under the scheme is HSC pass.