Interest Subsidy Scheme, 2017

The Directorate of Industries, Trade and Commerce (DITC), Government of Goa, introduced the Interest Subsidy Scheme, 2017. Its purpose is to improve the financial position of eligible enterprises, with a focus on manufacturing and hinterland eco-tourism, by offering an interest subsidy on term loans and/or working capital loans taken from designated financial institutions.

To qualify, industries must employ at least 60% Goan manpower. The maximum annual subsidy is ₹25,00,000, which rises to ₹27,50,000 per annum for enterprises owned by women or by applicants from Scheduled Caste/Scheduled Tribe categories. This differential ceiling is intended to encourage broader participation in Goa's industrial sector.

The subsidy amount is determined as a percentage of the interest paid or of total turnover, whichever is lower, and applies to both term loans and working capital loans. This calculation ensures that the assistance directly offsets interest costs for eligible units. The scheme operates under defined eligibility criteria and application procedures to maintain transparency in benefit disbursement.

- **Step 1: Obtain Application Form:** Download the prescribed application form from the official website and take a printout. - **Step 2: Complete Application:** Fill in every mandatory field, attach a passport-sized photograph (signed across if required), and include self-attested copies of all relevant supporting documents. - **Step 3: Submit Application:** Submit the completed and signed form, along with all enclosures, to the Directorate of Industries, Trade and Commerce (DITC) in Goa, making sure it is filed within any stipulated deadlines. - **Special Case (Multiple Units):** Where the applicant runs several units under a consolidated balance sheet, a Chartered Accountant certificate detailing unit-wise interest figures is required. The claim must be directed specifically at the eligible unit(s).

The Task Force Committee, which includes the Director of the Department of Tourism alongside other members named in the Umbrella Scheme, examines each application and its supporting documents. Its role is to verify that all submissions meet the scheme's eligibility requirements before it puts forward any recommendations for approval.