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.
