Sarkari Yojana
The West Bengal Incentive Scheme: Interest Subsidy on Term Loan
About The West Bengal Incentive Scheme: Interest Subsidy on Term Loan
“Interest Subsidy on Term Loan” is a sub-scheme under “The West Bengal Incentive Scheme,” launched on 22nd February 2021 by West Bengal’s Department of Tourism and valid through 31st December 2025. > Objective of the “West Bengal Incentive Scheme” Scheme:
The parent scheme extends financial assistance to enthusiastic aspiring entrepreneurs, helping self-employed youth become employers and generate more jobs over time. > Objectives of the “Interest Subsidy on Term Loan” Scheme:
Under this incentive, an approved project of an eligible unit receives an interest subsidy on its annual interest liability for a Term Loan taken from a Commercial Bank or Financial Institution.
Scheme Overview
State Government
Business Entity, Individual
22 Feb 2021
Scheme Details
Eligibility Requirements
To qualify for The West Bengal Incentive Scheme: Interest Subsidy on Term Loan, applicants must satisfy the following conditions:
The Scheme generally applies to all eligible tourism…
The Scheme generally applies to all eligible tourism projects/units, including expansion projects of existing units, established on or after its effective date of 22nd February 2021. Or,
Eligible Hotel Units that began commercial operations between…
Eligible Hotel Units that began commercial operations between 7th January 2015 and 31st December 2020 but could not apply under the 2015 scheme due to the absence of a Bar in the Hotel.
Units may fall under the private sector, co-operative…
Units may fall under the private sector, co-operative sector, joint sector, or be companies/undertakings owned or managed by the State Government.
The project must be backed by a detailed…
The project must be backed by a detailed feasibility report/project report prepared for the purpose.
The project must be approved and sanctioned by…
The project must be approved and sanctioned by a Central Financial Institution, Commercial Bank, or State Financial Institution.
The unit must hold a Registration Certificate, Date…
The unit must hold a Registration Certificate, Date of Commencement Certificate, and Eligibility Certificate issued by the West Bengal Tourism Development Corporation Limited upon satisfactory arrangement.
Benefits Provided
The West Bengal Incentive Scheme: Interest Subsidy on Term Loan provides the following benefits to eligible applicants:
Group-'A' and 'B' areas:
50%, capped at ₹ 25,00,000/- per year, for 5 years. Group-'C' and 'D' areas: 60%, capped at ₹ 25,00,000/- per year, for 7 years. Special Areas: 75%, capped at ₹ 30,00,000/- per year, for 7 years. Note: The interest subsidy is paid annually once the lending bank/financial institution certifies that the unit has paid the due interest on time. However, no subsidy applies to term loans taken for second-hand plant and machinery or hire-purchase equipment.
Documents Required
Applicants should keep the following documents ready before starting the application:
Documents required for the Registration and Eligibility Certificate (Form I) :
A copy of the Memorandum and Articles of…
A copy of the Memorandum and Articles of Association issued by the Registrar of Companies, or the Partnership agreement.
A statement giving the names and addresses of…
A statement giving the names and addresses of the company's Directors/Partners/Owners.
The Project Report
The Project Report.
A valid No Objection Certificate from the Pollution…
A valid No Objection Certificate from the Pollution Control Board.
A valid No Objection Certificate from the West…
A valid No Objection Certificate from the West Bengal Fire Service.
For loans, a photocopy of the Sanction letter…
For loans, a photocopy of the Sanction letter from the Central/State Financial Institution or Bank.
Copies of the audited balance sheet for the…
Copies of the audited balance sheet for the last 3 years, along with Income Tax acknowledgement.
An estimate for Building and Plant & Machinery,…
An estimate for Building and Plant & Machinery, vetted by a Government-registered/Chartered Valuer.
The Land Deed and supporting documents (Mutation/ROR, Conversion…
The Land Deed and supporting documents (Mutation/ROR, Conversion Certificate, site plan, clearance from the M.A. Department, etc.).
All applicable clearances from Government authorities (Forest, CRZ,…
All applicable clearances from Government authorities (Forest, CRZ, Police, etc.).
Sarai Registration Certificate under the Bengal Sarai Regulation…
Sarai Registration Certificate under the Bengal Sarai Regulation Act (for Hotels that have started commercial operation).
A valid Trade License from the appropriate authority
A valid Trade License from the appropriate authority.
GST Certificate and GST return
GST Certificate and GST return.
Sanctioned Building Plan from the appropriate authority (KMC/Municipality/Panchayat,…
Sanctioned Building Plan from the appropriate authority (KMC/Municipality/Panchayat, or another appropriate authority). Documents required for the application of Interest Subsidy on Term Loan:
A Certificate from a Bank/Financial Institution, in the…
A Certificate from a Bank/Financial Institution, in the format given in Annexure-A (available for download in the attachment section).
2021-02-22
How to Apply
Online Application
Applicants can apply for The West Bengal Incentive Scheme: Interest Subsidy on Term Loan through the online application process outlined below.
Registration Process:
Visit the official Shilpasathi portal and click 'Apply…
Visit the official Shilpasathi portal and click 'Apply online'.
A sign-up window appears—click 'Create New' if you're…
A sign-up window appears—click 'Create New' if you're a new user.
Select your entity type (Industry/Business/Commercial/Charitable Society/Govt
Select your entity type (Industry/Business/Commercial/Charitable Society/Govt. entity) and enter its Registration number.
Complete the 'User Registration' window with the required…
Complete the 'User Registration' window with the required details accurately and click 'Register'. If you already have an account, click 'Sign In' and log in with your User ID, password, and Captcha code. Application Process:
Visit the official Shilpasathi portal and click 'Apply…
Visit the official Shilpasathi portal and click 'Apply online'.
Enter your username, password, and captcha code, then…
Enter your username, password, and captcha code, then click "Log In"—or sign in using your registered mobile number and OTP.
You'll land on the user dashboard—click 'ALL SERVICES'…
You'll land on the user dashboard—click 'ALL SERVICES' to find the service you need.
From the list of services shown, check the…
From the list of services shown, check the box next to 'Tourism Incentive'.
Click 'Create CAF' to generate your CAF ID,…
Click 'Create CAF' to generate your CAF ID, then click 'Apply Online' to proceed.
You'll be redirected to the common application form—fill…
You'll be redirected to the common application form—fill in the necessary details to continue.
Attach the documents required for issuing the certificate,…
Attach the documents required for issuing the certificate, then click 'Save & Continue'.
Once uploaded, a 'Document successfully uploaded' message confirms…
Once uploaded, a 'Document successfully uploaded' message confirms the action, and you'll see your filled application for final review.
After reviewing, check the Declaration checkbox at the…
After reviewing, check the Declaration checkbox at the bottom left of the page before clicking 'Submit'.
You'll receive SMS and email notifications at key…
You'll receive SMS and email notifications at key stages of processing—submission, approval, or rejection.
You'll then be automatically redirected to the 'Check…
You'll then be automatically redirected to the 'Check status' page to track your application.
Once approved by the authority, download your Registration…
Once approved by the authority, download your Registration certificate from the online system via the 'Download Certificate' button.
Note:
Incentives require, in sequence, a Registration Certificate, a Date of Commencement Certificate, and an Eligibility Certificate.
After obtaining both the Registration and Date of Commercial Operation Certificates, the Tourism unit applies to the Managing Director, West Bengal Tourism Development Corporation, for the Eligibility Certificate.
Once all three certificates are in hand, eligible units apply to the Managing Director, West Bengal Tourism Development Corporation, for the specific incentives (see item 1) through separate online forms.
Exclusions / Who Is Not Eligible
- The West Bengal Incentive Scheme shall stand non-applicable in respect of those tourism units that have been registered for and have been sanctioned incentives under any previous scheme.
- Any unit which may have applied for registration with the Directorate of Tourism under WBIS (West Bengal Incentive Scheme ) 2015, before the date of commencement of this Scheme and whose applications may have not been disposed off prior to the coming into effect of this Scheme or deemed to have been disposed of shall be entitled to all benefits under WBIS 2015 only.
Official Application & Website
Verify the latest eligibility, dates and instructions before applying.