The West Bengal Incentive Scheme: Interest Subsidy on Term Loan

The West Bengal Incentive Scheme: Interest Subsidy on Term Loan, introduced on February 22, 2021, functions as a sub-scheme within the larger West Bengal Incentive Scheme. Its stated purpose is to provide financial assistance to new and existing entrepreneurs, with a focus on those launching or expanding tourism-related businesses in West Bengal. The scheme is intended to support self-employment and create additional job opportunities in the state.

Through a direct subsidy, the scheme reduces the interest burden on term loans, making it easier for individuals and entities to obtain financing from commercial banks and financial institutions for tourism projects. The government aims to create a more favourable climate for investment and growth in the state's tourism sector by lowering interest costs.

The programme is directed at tourism projects, covering both new ventures and the expansion of current units. It applies to private, co-operative, and joint sector business structures, as well as state government-owned undertakings. This broad scope is designed to allow a wide range of stakeholders to access the financial support, supporting the overall development of tourism infrastructure and services in West Bengal.

1. **Access the Shilpasathi Portal** – Go to `https://silpasathi.wb.gov.in/` and select the ‘Apply online’ option. 2. **Register or Sign In** – New users should choose ‘Create New’, pick the appropriate entity type (Industry, Business, Commercial, Charitable Society, or Govt.), enter the corresponding Registration number, complete the ‘User Registration’ form, and click ‘Register’. Returning users can select ‘Sign In’ and authenticate using their User ID, password, and Captcha code, or via a registered mobile number with an OTP. 3. **Open the Dashboard** – After logging in, you will land on your user dashboard. Select ‘ALL SERVICES’ to see the list of available options. 4. **Choose Tourism Incentive** – Tick the checkbox next to ‘Tourism Incentive’ in the services list. 5. **Generate CAF ID** – Click ‘Create CAF’ to obtain your Common Application Form (CAF) ID. Once generated, press ‘Apply Online’ to continue. 6. **Complete the Application** – You will be taken to the common application form. Provide all required details accurately. 7. **Upload Documents** – Attach every document needed for the certificate. Press ‘Save & Continue’. 8. **Verify Details** – A message reading ‘Document successfully uploaded’ will appear. Check the entered information for correctness. 9. **Declare and Submit** – Mark the Declaration checkbox at the bottom left of the page, then click ‘Submit’. 10. **Track Notifications** – SMS and email alerts will be sent at key points, such as submission, approval, or rejection. 11. **Monitor Status** – You will be redirected automatically to the ‘Check status’ page to follow your application’s progress. 12. **Download the Certificate** – Once all steps are completed and the authority grants approval, use the ‘Download Certificate’ button to obtain the approved Registration Certificate from the online system.

**Note on the Incentives Process:** The complete procedure requires securing three certificates in sequence: first the Registration Certificate, then the Date of Commencement Certificate, and finally the Eligibility Certificate from the West Bengal Tourism Development Corporation Limited. Only after holding all three can eligible units apply for incentives, including the Interest Subsidy, using the specific online forms available on the Shilpasathi portal.

Applications submitted through the Shilpasathi portal are reviewed administratively by the West Bengal Tourism Development Corporation Limited. The scrutiny covers the detailed feasibility report, project approval from financial institutions, and confirmation that the unit satisfies all stated eligibility criteria. Following this review, the Registration Certificate, Date of Commencement Certificate, and Eligibility Certificate are issued.

Once these certificates are in place and a claim for the specific incentive is filed, the competent authority grants final approval. This approval enables the disbursement of the interest subsidy.