PANJIM, JAN 4
Just five per cent of the total investment is what you now require to start a business in Goa, if you have a Self Help Group (SHG).
Fulfilling the promise made during his last budget speech, Chief Minister Digambar Kamat has given his nod for the landmark finance scheme which will help the self help groups to begin their venture.
Under the scheme, which would be funded by Industries Department, SHGs would be given one time non-recurring grant of 50 per cent of the project cost to the extent of Rs 50,000 as a seed capital.
“The balance part of seed capital to the extent of 45 per cent would be made available through village co-operative banks, Economic Development Corporation (EDC), Nationalised banks or other micro finance companies,” Sameer Salgaoncar, Chairman, Goa Handicraft Rural Small Scale Industries Development Corporation (GHRSSIDC), said.
The self help groups will have to invest just 5 per cent of the total capital. The State has set aside Rs 40 lakh as an initial corpus for this scheme.
Government officials claim that the implementation of the scheme would boost the trade avenues for the self help groups scattered across the State.
Chief Minister on Monday gave his nod for the scheme, which is covering all the traditional business ventures like agro processing, cashew roasting, coconut oil extraction, production of chicky and biscuits, pickles, papads, home made embroidery, perfumes and handicrafts.
Giving a full proof look to the scheme, the government will have arrangement with the customers of self help groups, in case; they fail to repay the loan amount.
The applications under the scheme would be approved by appraisal committee consisting of Chairman GHRSSICD, MD Nikhil Dessai, and representatives from Industries Department and other trade bodies.
