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The new programme is introduced by the Ministry of Small, Micro and Medium Enterprises. Khadi Gramodyog Commission has been appointed as the nodal agency for implementing the new programme. Khadi and Village Industries Board and District Industries Centre will implement the programme in urban and rural areas. A maximum financial assistance of Rs 25 lakh will be extended to production units and Rs 10 lakh for service units. The applicants for projects with an outlay of Rs 10 lakh and more (for production units) and Rs 5 lakh for service units must have passed eighth standard. The first installment of the loan will be released only after the applicant undergoes two week long entrepreneur development programme.
The contribution of entrepreneurs belonging to general merit stands at 10 pc. Applicants from urban areas have to contribute 15 pc and those from rural areas have to contribute 25 pc. Applicants of Scheduled Caste and Scheduled Tribe should contribute 5 pc of the project outlay. While urban entrepreneurs are entitled for 25 pc subsidy, those from rural areas are entitled for 35 pc subsidy.
The applications must be submitted to the nearest Khadi Commission, Khadi and Village Industries Board, District Industries Centre and banks along with a project report. More details can be obtained from the above offices, said a release.