Herald: ‘Umbrella scheme’ rolled out for youth, women
Herald News

‘Umbrella scheme’ rolled out for youth, women

13 Oct 2017 07:10am IST
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13 Oct 2017 07:10am IST

Scheme will provide financial aid and incentives to entrepreneurs

Team Herald

PANJIM: In a bid to encourage youth and women to be ‘job givers and not job seekers’, the BJP-led coalition government on Thursday rolled out its flagship ‘Umbrella scheme’ that aims at providing financial assistance and incentives to the entrepreneurs in the State.  

The scheme ‘Goa State Incentives to Encourage Investments Scheme, 2017’ notified will be in force for a period of five years with effect from October 1. The eligible industrial units will get 50percent subsidy of the cumulative capital investment, whereas the units located in lesser developed talukas will get 70 percent subsidy.

The talukas of Pernem, Sattari, Bicholim, Sanguem, Quepem, Canacona and Dharbandora have been earmarked as lesser developed talukas under the scheme, which was approved by cabinet last month.

“The objective of the scheme is to create sustainable employment for the people of Goa and to support environmentally sustainable industrial development while accelerating investment in the State,” the order issued by Georgina Saldanha, Under Secretary (Industries), reads.

The scheme is also to make the existing industry in Goa competitive. 

The scheme offers maximum additional 10 percent benefit to all women and those belong to SC/ST. 

The projects of hinterland eco-tourism in lesser developed talukas will be eligible for benefits under the target schemes of 'interest subsidy scheme' and 'employment subsidy scheme' but subject to conditions listed under the scheme.

A task force under the chairmanship of CEO Goa Investment promotion Board is constituted to scrutinize applications and recommendations of the benefits under target schemes. All sanctions and disbursements under this scheme would be reported to the government every six months.

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