Motivation of Unemployed Persons to Start Self-employed Enterprises

About This Scheme

The scheme “Motivation of Unemployed Persons to Start Self-employed Enterprises” by the District Industries Centre, Department of Industries and Commerce, UT of Puducherry was introduced to encourage self-employment among the youth in manufacturing and service activities, supporting the growing economy of the Union Territory of Puducherry.

Eligibility

- The applicant's age should align with the existing norms of banks. - The applicant should be able to read and write fluently. - The applicant should be a permanent resident of the area for at least 3 years. - All economically viable service and industrial activities are eligible.

Benefits

> Quantum of Loan Ranging from ₹10,000 to ₹2,00,000. > Subsidy - 50% of the project cost (excluding preliminary and pre-operative expenses) for projects not exceeding ₹10,000. - 25% of the project cost (excluding preliminary and pre-operative expenses), subject to a maximum of ₹25,000, for projects exceeding ₹10,000 but less than ₹2,00,000. > Interest Normal bank rate of interest on the date shall be charged. > Disbursement The disbursement of the loan will be done once the beneficiary completes the formalities required by the banks for their project.

How to Apply

Where This Comes From

This scheme was sourced from myScheme, the Government of India's official Central+State scheme discovery portal, and reviewed by an editor before publishing. Use the button above to read the full details and apply directly on the official source.