Interest Subsidy Scheme, 2017

The Directorate of Industries, Trade and Commerce (DITC), Government of Goa, operates the Interest Subsidy Scheme, 2017. It offers an interest subsidy on term loans and/or working capital loans taken from specified financial institutions, with the aim of improving the financial viability of eligible enterprises, especially those engaged in manufacturing and hinterland eco-tourism.

Enterprises supported under the scheme must employ at least 60% Goan manpower. Benefits are capped at ₹25,00,000 per annum, and this ceiling rises to ₹27,50,000 per annum where the enterprise is led by women or by Scheduled Caste/Scheduled Tribe applicants. The purpose is to encourage inclusive growth and extend support to these groups within Goa's entrepreneurial landscape.

The subsidy meets part of the interest payable on term loans as well as working capital loans. It is computed as a percentage of interest paid or of total turnover, whichever is lower, so that the assistance directly eases the loan interest burden on eligible units.

Clear eligibility criteria and application procedures govern the scheme, which the Directorate applies to ensure benefits are disbursed transparently and effectively.

- **Step 1: Download the application form:** The prescribed form can be downloaded and printed from the official website. - **Step 2: Fill in the application:** Enter details in every mandatory field, affix a passport-sized photograph (signed across, where required), and attach self-attested copies of all supporting documents. - **Step 3: File the application:** Send the completed and signed form, together with all enclosures, to the Directorate of Industries, Trade and Commerce (DITC) in Goa, and make sure it reaches within any stipulated deadline. - **Special Case (Multiple Units):** Where the applicant runs several units covered by a consolidated balance sheet, a Chartered Accountant certificate giving unit-wise interest details has to be furnished. The claim must be directed specifically at the eligible unit(s).

Every application is examined and recommended by a Task Force Committee. The Director, Department of Tourism, sits on this committee as a member, alongside the other members laid down in the Umbrella Scheme. The committee goes through the applications and supporting documents to verify that the scheme's eligibility criteria are met, and only then does it recommend proposals for approval.