The “Share Capital to Local Entrepreneurs and Self Employed Scheme, 2008” was launched by the Directorate of Industries, Trade and Commerce, Government of Goa, to promote local entrepreneurship, especially among youths of Goan origin. The scheme provides financial support in the form of share capital contributions to help individuals and groups set up income-generating activities. It aimed at enabling self-employment and industrial development in Goa, particularly for marginalized groups such as women, disabled persons, and Scheduled Castes.
The scheme is designed to offer capital contributions and interest-free loans for the creation of non-polluting trades. Eligible applicants can receive assistance for up to ₹2,00,000 per individual or ₹10,00,000 for groups, covering 50% of the total project cost.
Benefits
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Financial Support:
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₹2,00,000 per individual (₹3,00,000 for those with professional qualifications).
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₹10,00,000 for groups (no restriction on the number of members).
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Interest-Free Loan: The contribution is provided interest-free.
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Repayment Period: The loan is repayable in equal monthly installments within 10 years with a one-year moratorium period.
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Insurance Cover: An insurance premium of ₹200 per ₹1,00,000 is required for disbursement. This insurance absolves the beneficiary of outstanding dues in case of death or permanent disability.
Eligibility
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The applicant must be a resident of Goa for at least 15 years.
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Applicants must be below 40 years of age (relaxed by 5 years for women, disabled, SC, ST, and OBC).
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The applicant must have passed at least the 8th standard (this can be relaxed in deserving cases).
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The applicant’s annual family income must not exceed ₹80,000 (for SC, OBC, and minority categories).
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The applicant should not have availed more than 15% subsidy under any other scheme.
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The applicant must have a guarantor who owns residential property in Goa.
Exclusions
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Applicants who have already availed benefits under the Kamdhenu Scheme (except for dairy/dhilling units).
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Applicants defaulting on loans under DSFDC, nationalized banks, or financial institutions.
Application Process
Offline
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Obtain the Application:
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Purchase the application form for ₹25/- from the Directorate of Industries, Trade and Commerce, Udyog Bhavan, Panaji, Goa.
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Complete the Form:
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Fill in the required fields, attach passport-sized photographs, and include the necessary documents.
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Submit the Form:
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Submit the form along with a ₹200 processing fee receipt to the Directorate of Industries, Trade and Commerce.
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Post-Application Process:
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The Task Force Committee (TFC) will review the application and recommend it for disbursement if feasible.
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Upon approval, the capital contribution will be disbursed, and the beneficiary must adhere to the repayment terms.
Documents Required
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Passport-size photographs (5).
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Aadhaar Card.
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Income Certificate issued by the Sub-Divisional Magistrate.
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Age Proof (e.g., Birth Certificate, School Leaving Certificate).
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Project Report and Five-Year Financial Projections.
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Caste Certificate (if applicable).
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Disability Certificate (if applicable).
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Rent Agreement/Property Proof for the workplace.
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Self-Guarantee and guarantor’s documents.
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Processing fee receipt of ₹200/-.
Frequently Asked Questions (FAQs)
Q: What is the maximum financial support provided under the scheme?
A: The maximum support is ₹2,00,000 for individual applicants and ₹10,00,000 for groups.
Q: What is the repayment period for the loan?
A: The loan is repayable over 10 years, with a one-year moratorium period.
Q: Is there any insurance cover under the scheme?
A: Yes, an insurance cover is provided that absolves the beneficiary of outstanding dues in case of death or permanent disability, with a premium of ₹200 per ₹1,00,000.
Q: Can groups apply for financial support under the scheme?
A: Yes, groups of individuals can apply, with the maximum support being ₹10,00,000.
Q: What is the age limit for applicants?
A: Applicants should be below 40 years of age, with age relaxation for women, disabled, and SC/ST/OBC applicants.
Q: Is there a preference for women or marginalized groups under the scheme?
A: Yes, priority is given to women, disabled persons, and marginalized groups such as Scheduled Castes, Scheduled Tribes, and Other Backward Classes.
Q: How are repayments structured?
A: Repayments are made in equal monthly installments over 10 years, with a moratorium period of up to one year.