Textile manufacturing units involved in Spinning, Knitting, Weaving, Processing, Garmenting etc., are eligible for the interest subvention.
Loan sanctioned or first disbursement made on and after November 2012 is eligible for the interest subvention.
Term Loans should have been sanctioned and availed from Banks / Financial Institutions.
Only New machineries are eligible.
Quantum of Interest subvention:
|Sr. No.||Areas where Project is Implemented||Spinning Activity||Other Activity|
|% of Interest Subvention||Max. Limit of yearly subvention||% of Interest Subvention||Max. Limit of yearly subvention|
|1||Poorvanchal||7||100 Lakhs||5||100 Lakhs|
|2||Madhyanchal||7||100 Lakhs||5||100 Lakhs|
|3||Bundelkhand||7||100 Lakhs||5||100 Lakhs|
|4||Other parts||7||50 Lakhs||5||50 Lakhs|
Expansion or Diversified units are also eligible for the interest subvention.
Only New units are eligible for electric duty exemption.