Sarkari Yojana
Aatmanirbhar Gujarat Scheme for assistance to MSMEs: Assistance for Interest Subsidy to Micro, Small and Medium Enterprise (Service Sector)
About Aatmanirbhar Gujarat Scheme for assistance to MSMEs: Assistance for Interest Subsidy to Micro, Small and Medium Enterprise (Service Sector)
An umbrella initiative of Gujarat’s Industries and Mines Department, the “Aatmanirbhar Gujarat Scheme for MSMEs” is geared towards empowering the state’s lively MSME sector, a major contributor to jobs, GDP and exports. Running from October 5, 2022, to October 4, 2027, it promotes investment and growth in line with “Aatmanirbhar Gujarat” and “Aatmanirbhar Bharat.” The “Assistance for Interest Subsidy to Micro, Small and Medium Enterprise (Service Sector)” component extends a term-loan interest subsidy to back micro-enterprises working in the service sector.
Scheme Overview
State Government
Business Entity
05 Oct 2022
Scheme Details
Eligibility Requirements
To qualify for Aatmanirbhar Gujarat Scheme for assistance to MSMEs: Assistance for Interest Subsidy to Micro, Small and Medium Enterprise (Service Sector), applicants must satisfy the following conditions:
The business must be a Micro/Small/Medium enterprise operating…
The business must be a Micro/Small/Medium enterprise operating in the service sector.
Acknowledgment or registration from the Ministry of MSME…
Acknowledgment or registration from the Ministry of MSME or the Department for Promotion of Industry and Internal Trade (DPIIT), as relevant, is required.
Only new service sector MSMEs qualify for the…
Only new service sector MSMEs qualify for the Interest subsidy on term loans for new machinery, equipment and furniture/fixtures (land and building excluded).
An online application must be made within one…
An online application must be made within one year from the first loan disbursement, commencement of commercial production/services, or the GR issue date, whichever comes later.
The application must be lodged before the scheme's…
The application must be lodged before the scheme's last operative date.
The enterprise must keep paying instalments and interest…
The enterprise must keep paying instalments and interest to the bank/financial institution on time.
Benefits Provided
Aatmanirbhar Gujarat Scheme for assistance to MSMEs: Assistance for Interest Subsidy to Micro, Small and Medium Enterprise (Service Sector) provides the following benefits to eligible applicants:
The interest subsidy on the term loan is determined by the category of the taluka in which the enterprise operates:
Category 1:
Quantum of incentive is 7% on the term loan, limited to ₹35,00,000/- per annum, available for 7 years.
Category 2:
Quantum of incentive is 6% on the term loan, limited to ₹30,00,000/- per annum, available for 6 years.
Category 3 & Municipal Corporation Areas:
Quantum of incentive is 5% on the term loan, limited to ₹25,00,000/- per annum, available for 5 years.
Documents Required
Applicants should keep the following documents ready before starting the application:
Hard copy of the application containing the declaration…
Hard copy of the application containing the declaration and undertaking, signed by an authorised person whose name and designation appear alongside the enterprise's stamp.
Udyog Aadhaar / Udyam Registration acknowledgment (copy)
Udyog Aadhaar / Udyam Registration acknowledgment (copy).
Term loan sanction letter issued by the lender…
Term loan sanction letter issued by the lender (copy).
Term loan account statement or the bank's certificate…
Term loan account statement or the bank's certificate confirming first disbursement (copy).
Constitution document of the enterprise, e.g
Constitution document of the enterprise, e.g. registered partnership deed for partnership firms (copy).
DPR of the enterprise for projects up to…
DPR of the enterprise for projects up to ₹5 crores (copy); for projects over ₹5 crores, the DIC will call for a bank appraisal report.
Shop & Establishment Certificate (for service sector units…
Shop & Establishment Certificate (for service sector units within municipal corporations).
GST registration certificate (copy, where applicable)
GST registration certificate (copy, where applicable).
PAN card in the enterprise's name (copy)
PAN card in the enterprise's name (copy).
ITR of the last financial year indicating plant…
ITR of the last financial year indicating plant & machinery value (copy); new enterprises provide a self-declaration the first time.
Birth certificate/school leaving certificate (copy) for entrepreneurs aged…
Birth certificate/school leaving certificate (copy) for entrepreneurs aged under 35 years as on the bank loan sanction date.
Caste certificate from a competent authority (copy)
Caste certificate from a competent authority (copy).
Certificate of disability for differently abled persons from…
Certificate of disability for differently abled persons from a competent authority (copy).
CTE granted by the GPCB (copy, where applicable)
CTE granted by the GPCB (copy, where applicable).
One self-certified/certified property document, for instance 7/12 Utara,…
One self-certified/certified property document, for instance 7/12 Utara, Namuna 6, copy of index, property card, etc.
NA permission (where applicable)
NA permission (where applicable).
Notarised rent deed (agreement) with the owner's proof/affidavit…
Notarised rent deed (agreement) with the owner's proof/affidavit of ownership of the land/property (copy).
Lease deed (agreement) with the owner's proof of…
Lease deed (agreement) with the owner's proof of ownership of the land/property (copy).
Receipt of property tax paid (copy, for service…
Receipt of property tax paid (copy, for service activities).
Board resolution naming the signing authority (for partnerships,…
Board resolution naming the signing authority (for partnerships, LLPs, Pvt. Ltd., or Limited Companies).
Declaration and undertaking covering other investments made in…
Declaration and undertaking covering other investments made in Gujarat.
Annexure to the balance sheet giving the gross…
Annexure to the balance sheet giving the gross fixed capital investment of the previous financial year.
CA certificate giving the gross fixed capital investment…
CA certificate giving the gross fixed capital investment before expansion/diversification/forward or backward integration began.
2022-10-05
How to Apply
Online Application
Applicants can apply for Aatmanirbhar Gujarat Scheme for assistance to MSMEs: Assistance for Interest Subsidy to Micro, Small and Medium Enterprise (Service Sector) through the online application process outlined below.
Registration Process:
Go online to the Investor Facilitation Portal (IFP)…
Go online to the Investor Facilitation Portal (IFP) portal and click "New Investor Registration" for the sign-up form.
Populate the Registration Form and click "Submit"
Populate the Registration Form and click "Submit".
Look for the verification link in your registered…
Look for the verification link in your registered E-mail ID inbox and use it to verify the E-mail ID.
You become successfully registered once the verification step…
You become successfully registered once the verification step is finished. Post-Registration Process:
Go online to the Investor Facilitation Portal (IFP)…
Go online to the Investor Facilitation Portal (IFP) portal and click "Login".
Enter your registered email address along with the…
Enter your registered email address along with the password you chose.
Click the "Login" button so that your account…
Click the "Login" button so that your account opens.
Enter the requested business information and attach the…
Enter the requested business information and attach the mandatory documents, which completes the application.
Exclusions / Who Is Not Eligible
- Enterprises that have availed incentives for the same GFCI under any other state government scheme or agency are ineligible unless specifically allowed.
- Enterprises with term loans sanctioned more than one year after starting commercial production/services are ineligible.
- Enterprises defaulting on loan repayments will not receive interest subsidies for the default period.
- Enterprises seeking reimbursement for penal interest or other charges are ineligible for such claims.
Official Application & Website
Verify the latest eligibility, dates and instructions before applying.