Incentives to Women Entrepreneurs Scheme, 2008

Incentives to Women Entrepreneurs Scheme (महिलाओं के उद्यमियों के लिए प्रोत्साहन योजना), 2008

The “Incentives to Women Entrepreneurs Scheme, 2008” was introduced by the Government of Goa to foster entrepreneurship among women and to stimulate self-employment. By offering various incentives, including interest subsidies and preferential treatment, the scheme aimed to support women-owned industrial units.

Overview of the Scheme

Initiated in 2008 by the Directorate of Industries, Trade and Commerce, this scheme was designed specifically to encourage women to venture into entrepreneurship and self-employment. The program provided a range of incentives targeted at women-owned industrial units, offering benefits such as interest subsidies, additional employment subsidies, and preferences in capital contribution schemes. This initiative was effective until March 31, 2011, focusing on women-led enterprises.

Benefits Offered

• Interest Subsidy:
  • Applicable from the interest of the quarter preceding the quarter of the first commercial production date.
  • Benefits were available for a duration of 5 years (20 quarters) from the applicability quarter.
  • The subsidy was capped at 1% of total net turnover or 30% of the interest paid, whichever was lesser, with a maximum limit of ₹5,00,000 per annum.
  • For the Interest Subsidy Scheme, the limits were increased to 2% of turnover and 35% of interest paid, subject to a ceiling of ₹8,00,000.
• Additional Employment Subsidy:
  • 5% additional benefits were provided under the Local Employment Subsidy Scheme, supplementing the original scheme benefits.
  • Preference was granted in Capital Contribution and Special Capital Contribution Schemes.
• The Task Force Committee ensured that the disbursement of funds occurred within 6 months from the application receipt date.

Eligibility Requirements

• Only proprietary and partnership concerns were eligible, with ownership criteria requiring 100% ownership by women for proprietary concerns and at least 51% for partnership firms.
• In partnership firms, the remaining 49% must not solely be held by immediate male family members such as husbands, fathers, brothers, or sons, necessitating at least one additional partner.
• Units that commenced commercial production or services after the scheme’s publication date were deemed eligible.
• Women entrepreneurs received preferential treatment under Capital Contribution and Special Capital Contribution Schemes.

Application Procedure

Offline Application Process

Applicants were required to claim the scheme benefits by following a structured application process for the additional benefits outlined. Compliance with the procedures, rules, and other requirements established under the respective schemes was mandatory.

• The review and recommendation of applications were conducted by the Task Force Committee, consisting of members from the Directorate of Industries, Trade and Commerce, Finance Department, and industry associations, within 3 months of receipt.

Submission Deadline

Eligible units needed to submit their claims in the prescribed format after the conclusion of each financial year, no later than May 31st. If a claim for the financial year was not approved by this deadline, it would lapse, although eligibility for the remaining benefit period continued.

Official Information Source

For more details, please visit myScheme.gov.in.