Sarkari Yojana
Goa State 25% Subsidy for Self Employed Scheme
About Goa State 25% Subsidy for Self Employed Scheme
Launched by the Directorate of Industries, Trade, and Commerce, Government of Goa, the “Goa State 25% Subsidy for Self Employed Scheme” promotes self-employment in Goa and motivates beneficiaries of self-employment schemes to keep up regular loan repayments. A 25% subsidy on fixed capital investment is offered for every industrial or other self-employment activity. Applications are received at the Economic Development Corporation office, EDC House, Panaji-Goa.
Scheme Overview
State Government
Business Entity, Individual
Scheme Details
Eligibility Requirements
To qualify for Goa State 25% Subsidy for Self Employed Scheme, applicants must satisfy the following conditions:
Applicants may be individuals, groups of individuals or…
Applicants may be individuals, groups of individuals or Partnership Firms.
The applicant must have taken financial help for…
The applicant must have taken financial help for self-employment under the "Chief Minister’s Rozgar Yojana (CMRY)" or "Dr. Verghese Kurien Rojgar Yojana (VKRY)" Schemes, or from Nationalized Banks, Scheduled Commercial Banks, Co-operative Banks, and registered Credit Societies.
Combined annual income of the applicant and spouse…
Combined annual income of the applicant and spouse must be no more than ₹3,00,000/-.
A pass in at least the 7th grade…
A pass in at least the 7th grade is required.
The applicant has to be under 42 years…
The applicant has to be under 42 years of age.
For groups of individuals (registered Self Help Groups…
For groups of individuals (registered Self Help Groups excepted), each member must be under 42 years of age.
For groups, every member must meet the residency,…
For groups, every member must meet the residency, age and education conditions.
Activities falling under the Red Category are excluded
Activities falling under the Red Category are excluded.
Tobacco- and liquor-related activities are excluded
Tobacco- and liquor-related activities are excluded.
Those getting help under the "Dr
Those getting help under the "Dr. Verghese Kurien Rojgar Yojana Scheme" to buy Yellow/Black–Motorcycles, Yellow/Black–Auto Rickshaws, Yellow/Black–Taxis, Tourist Taxis, or Buses are ineligible.
Existing beneficiaries of the "Chief Minister’s Rojgar Yojana…
Existing beneficiaries of the "Chief Minister’s Rojgar Yojana Scheme" funded to buy Yellow/Black–Motorcycles, Yellow/Black–Auto Rickshaws, Yellow/Black–Taxis, or Tourist Taxis are ineligible.
Applicants already benefiting from another Government subsidy-linked scheme…
Applicants already benefiting from another Government subsidy-linked scheme in which the department gives a subsidy of about 25% or more are ineligible. Preference, Relaxation, and Automatic Coverage
Being born in Goa and resident there for…
Being born in Goa and resident there for 15 years is expected.
At least 15 years' residence in the State…
At least 15 years' residence in the State of Goa before applying is expected.
Graduation or 12th standard or 10th standard or…
Graduation or 12th standard or 10th standard or schooling should have been completed in the State of Goa.
Women, disabled persons, Scheduled Caste/Scheduled Tribes, and Other…
Women, disabled persons, Scheduled Caste/Scheduled Tribes, and Other Backward Class persons get a 5-year relaxation in the age limit.
Those eligible for age relaxation under the Chief…
Those eligible for age relaxation under the Chief Minister’s Rozgar Yojana/Dr. Verghese Kurien Rojgar Yojana are automatically considered under this scheme.
In deserving cases, the Director of Industries, Trade…
In deserving cases, the Director of Industries, Trade & Commerce may relax the minimum VIIth grade condition by specific order.
Those given education relaxation under the Chief Minister’s…
Those given education relaxation under the Chief Minister’s Rozgar Yojana/Dr. Verghese Kurien Rojgar Yojana Scheme are automatically considered under this scheme.
Women's and disabled persons' Self Help Groups (SHGs)…
Women's and disabled persons' Self Help Groups (SHGs) receive priority.
If applications exceed the total budget provision, women…
If applications exceed the total budget provision, women entrepreneurs receive priority for up to 30% of the scheme's budgeted outlay.
Every beneficiary of the Chief Minister’s Rozgar Yojana/Dr
Every beneficiary of the Chief Minister’s Rozgar Yojana/Dr. Verghese Kurien Rojgar Yojana Scheme is covered automatically, and approval by the Task Force Committee is sufficient.
Existing beneficiaries of the Revised and Modified Chief…
Existing beneficiaries of the Revised and Modified Chief Minister’s Rozgar Yojana whose accounts had no overdues as on 30-09-2015, or from the month after their account is regularized, qualify.
Existing beneficiaries of other Government subsidy-linked schemes who…
Existing beneficiaries of other Government subsidy-linked schemes who received or are eligible for less than 25% subsidy may get this subsidy, after the subsidy already received is deducted pro-rata from it.
Benefits Provided
Goa State 25% Subsidy for Self Employed Scheme provides the following benefits to eligible applicants:
A subsidy of 25% is paid on fixed…
A subsidy of 25% is paid on fixed capital investment for all industrial and other self-employment activities. Benefit Disbursement
Under the Dr
Under the Dr. Verghese Kurien Rojgar Yojana Scheme, a sum equal to 20% of each Equated Monthly Installment paid by the due date (roughly 25% of the principal part of the Equated Monthly Installment) is credited to the principal account on the date of payment.
Under the Revised Chief Minister’s Rojgar Yojana Scheme,…
Under the Revised Chief Minister’s Rojgar Yojana Scheme, a sum equal to 20% of each Equated Monthly Installment paid by the due date (roughly 25% of the principal part of the Equated Monthly Installment) is credited to the principal account on the date of payment.
Revised Chief Minister’s Rojgar Yojana beneficiaries receive the…
Revised Chief Minister’s Rojgar Yojana beneficiaries receive the subsidy on the non-overdue outstanding Equated Monthly Installments of the assistance disbursed, starting from the month after the account is regularized.
The subsidy covers fixed capital investment only, such…
The subsidy covers fixed capital investment only, such as premises, plant and machinery, furniture and fixtures, office equipment, electrification, alternate power sources, etc.
Revised Chief Minister’s Rojgar Yojana beneficiaries get the…
Revised Chief Minister’s Rojgar Yojana beneficiaries get the subsidy on the whole non-overdue outstanding of the assistance disbursed. Conditions for Availing the Benefits
No subsidy is paid on Equated Monthly Installments…
No subsidy is paid on Equated Monthly Installments that are in default.
Once defaulted Equated Monthly Installments are paid, the…
Once defaulted Equated Monthly Installments are paid, the subsidy may restart, but only for the remaining amount or a fresh Equated Monthly Installment.
If the loan is closed early, before one…
If the loan is closed early, before one year from the first disbursement, any subsidy paid during that time is reversed and debited to the loan account.
Where there is misrepresentation or miscalculation, the borrower…
Where there is misrepresentation or miscalculation, the borrower must refund the subsidy released immediately, and it will be recovered as arrears of land revenue.
Working capital investment, such as raw materials, stock…
Working capital investment, such as raw materials, stock of goods for sale, consumables, etc., does not qualify for subsidy.
Documents Required
Applicants should keep the following documents ready before starting the application:
The receipt for the non-refundable processing fee of…
The receipt for the non-refundable processing fee of ₹200/-.
The receipt for the ₹25/- application form cost
The receipt for the ₹25/- application form cost.
Evidence of birth in Goa and 15 years'…
Evidence of birth in Goa and 15 years' residence there (when claiming preference).
Evidence of residence in Goa for a minimum…
Evidence of residence in Goa for a minimum of 15 years before applying.
Evidence of having passed graduation or 12th standard…
Evidence of having passed graduation or 12th standard or 10th standard or schooling in the State of Goa (when claiming preference).
Proof of age, showing the applicant is under…
Proof of age, showing the applicant is under 42 years of age (subject to relaxation).
Proof of passing at least the 7th standard
Proof of passing at least the 7th standard.
Proof of income of the applicant and spouse,…
Proof of income of the applicant and spouse, showing it is within ₹3,00,000/- per annum.
Papers relating to the loan taken (from Nationalized…
Papers relating to the loan taken (from Nationalized Banks, Scheduled Commercial Banks, Co-operative Banks, or registered Credit Societies).
Proof of registration as a Self-Help Group (for…
Proof of registration as a Self-Help Group (for Self-Help Groups of women/disabled persons).
A caste certificate (for Scheduled Caste/Scheduled Tribe/Other Backward…
A caste certificate (for Scheduled Caste/Scheduled Tribe/Other Backward Class applicants seeking age relaxation).
A disability certificate (for disabled applicants seeking age…
A disability certificate (for disabled applicants seeking age relaxation). Post-Application/Disbursement Stage Documents (Required for existing CMRY/VKRY beneficiaries to qualify)
A loan account statement showing the account is…
A loan account statement showing the account is not overdue or that the overdue account has been regularized (for existing Revised/Modified Chief Minister’s Rozgar Yojana beneficiaries).
How to Apply
Offline Application
Applicants can apply for Goa State 25% Subsidy for Self Employed Scheme through the offline application process outlined below.
Applications must be handed in in person at the office of the Economic Development Corporation, EDC House, Panaji-Goa.
Eligible individuals or groups should first get the…
Eligible individuals or groups should first get the prescribed application proforma from the Economic Development Corporation, Panaji.
Complete the form and pay ₹25/- as the…
Complete the form and pay ₹25/- as the form cost along with a non-refundable processing fee of ₹200/-, enclosing the processing fee receipt with the application.
Address the completed application to the Managing Director…
Address the completed application to the Managing Director of the Economic Development Corporation and hand it in personally at EDC House, Panaji-Goa. Those already receiving assistance under the Chief Minister’s Rozgar Yojana/Dr. Verghese Kurien Rojgar Yojana Scheme are covered automatically and do not need to apply again. Post-Application Process
Scrutiny and Recommendation by the Task Force Committee
The Task Force Committee (TFC) formed under the "Chief Minister’s Rozgar Yojana/Dr. Verghese Kurien Rojgar Yojana Scheme" examines the applications received under this scheme.
The TFC then recommends eligible applications for subsidy.
Sanctioning and Fund Placement
For applications under the Chief Minister’s Rozgar Yojana/Dr. Verghese Kurien Rojgar Yojana Scheme, that scheme's Task Force Committee acts as the sanctioning authority, provided the relevant Appraisal Committee has appraised them.
The Directorate of Industries, Trade & Commerce makes budget provision for the scheme and places funds with the Economic Development Corporation once subsidy claims arrive.
Official Application & Website
Verify the latest eligibility, dates and instructions before applying.