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Incentive Scheme for MSMEs in Powerloom Sector: Interest Subsidy on Term Loan

West Bengal

Entrepreneurship
Incentives
Interest Subsidy
Powerloom
Reimbursement
Subsidy
Term Loan
Details
Benefits
Eligibility
Exclusions
Application Process
Documents Required
Frequently Asked Questions
The scheme “Interest Subsidy on Term Loan” is a sub scheme under the “Incentive Scheme for MSMEs in Powerloom Sector”. It was launched on 1st January, 2022, by the Department of Micro, Small & Medium Enterprises and Textiles, Government of West Bengal, and shall remain valid upto 31st December, 2024.
Objective of the "Incentive Scheme for MSMEs in Powerloom Sector”:
The objective of the Scheme is to extend fiscal incentives for installation of New age shuttleless Powerlooms by MSMEs in Textile sector with a view to boost production of the improved quality fabrics and to create a sustainable ecosystem for MSMEs in Textile sector which can maximize the utilization of resource, generate new employment and widen the area of operation to make the State emerge as the leader in Powerloom sector in country.
Objective of the "Interest Subsidy on Term Loan" Sub-scheme:
Through this incentive, an eligible micro, small or medium enterprise in Powerloom sector will be entitled to Interest Subsidy on annual interest liability on the Term Loan borrowed from a Commercial Bank/ Cooperative Bank/ Scheduled Banks approved by RBI/ RRBs/ Financial Institution (Central and State) for implementation of the approved project.
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