- Details
- Benefits
- Eligibility
- Exclusions
- Application Process
- Documents Required
- Frequently Asked Questions
- Sources And References
- Feedback
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Gujarat
Dr.Babasaheb Ambedkar Udyog Uday Yojana: Assistance for Interest Subsidy (Service Sector)
Details
Benefits
Financial Assistance:
Category of Taluka | Quantum of Incentive |
Category I | 8% on Term Loan with a maximum amount of ₹35,00,000/- per annum for a period of 7 years |
Category II | 7% on Term Loan with a maximum amount of ₹30,00,000/- per annum for a period of 6 years |
Category III & Municipal Corporation Areas | 6% on Term Loan with a maximum amount of ₹25,00,000/- per annum for a period of 5 years |
Additional Subsidy: 1% extra interest subsidy for registered startups in the service sector with Udyam/MSME Registration.
Eligibility
- The firm must be a Micro/Small/Medium enterprise run by SC/ST entrepreneur.
- The enterprise must be a manufacturing enterprise.
- Only new MSMEs in the service sector (as per Annexure A and B) are eligible.
- The enterprise must have a term loan sanctioned for new machinery, equipment, or furniture/fixtures.
- The loan should be sanctioned within one year before the commencement of commercial production.
- Enterprises must have proper tax and business registrations.
Note:
Exclusions
- Enterprises whose term loan is sanctioned after one year from the commencement of commercial production.
- Enterprises defaulting on loan repayments as per RBI and bank guidelines.
- Enterprises seeking reimbursement for penal interest or other bank charges.
- Enterprises availing interest subsidy under any Central Government scheme where the total subsidy exceeds the total interest paid.
Application Process
Registration Process:
Post-Registration Process:
Helpdesk: Contact
Documents Required
- Printed copy of the application along with declaration and undertaking in the application form signed by an authorized person, including their designation and name with the enterprise's stamp.
- Copy of acknowledgment of Udyog Aadhaar / Udyam Registration.
- Copy of term loan sanction letter.
- Copy of term loan account statement / bank certification of first disbursement certificate.
- Copy of the constitution of the enterprise (registered partnership deed for partnerships).
- Copy of DPR of the enterprise (for projects up to ₹5 crores); for projects above ₹5 crores, DIC will ask for a bank appraisal report.
- Shop & Establishment Certificate (for service sector enterprises in municipal corporations).
- Copy of GST registration (if applicable).
- Copy of PAN card of the enterprise.
- Copy of ITR for the last financial year showing plant & machinery value (new enterprises must submit a self-declaration for the first time).
- Copy of birth certificate/school leaving certificate (for entrepreneurs under 35 years as of the bank loan sanction date).
- Copy of caste certificate from a competent authority.
- Copy of certificate for differently abled persons from a competent authority.
- Copy of CTE issued by the GPCB (if applicable).
- Self-certified/certified copy of documents such as 7/12 Utara, Namuna 6, copy of index, property card, etc. (any one).
- NA permission (if applicable).
- Copy of notarized rent deed (agreement) with the owner's proof/affidavit for ownership of land/property.
- Copy of lease deed (agreement) with the owner's proof of ownership of land/property.
- Copy of the property tax receipt (for service activities).
- Board resolution for signing authority (in case of partnerships, LLPs, Pvt. Ltd., or Limited Companies).
- Declaration and undertaking regarding other investments in Gujarat.
- Annexure of the balance sheet showing the gross fixed capital investment of the previous financial year.
- CA certificate showing the gross fixed capital investment before initiating expansion/diversification/forward or backward integration.
Frequently Asked Questions
What is the "Dr. Babasaheb Ambedkar Udyog Uday Yojana"?
What sectors are prioritized under the Industrial Policy 2020?
How does the scheme promote export competitiveness?
What is the duration of the scheme?
Who is eligible to apply for the interest subsidy scheme?
What type of expenses are covered under the subsidy?
What is the maximum subsidy amount an enterprise can receive?
Is there any additional benefit for startups?
Can an enterprise apply for the subsidy if it has already started commercial production?
Can an enterprise avail of subsidies from both the Central and State Government?
What happens if an enterprise defaults on loan repayment?
Is there any penalty for late submission of the application?
Is MSME/Udyam registration mandatory for availing the subsidy?
Can an existing business apply for this scheme?
Will the interest subsidy cover penal interest or other bank charges?
When will the subsidy amount be reimbursed?
News and Updates
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Check Eligibility
Gujarat
Dr.Babasaheb Ambedkar Udyog Uday Yojana: Assistance for Interest Subsidy (Service Sector)
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