General Manager Ganesan said that Rs 25 lakh to Rs 1.5 crore subsidy is provided to those who start micro and small businesses through the District Industry Centre.
Out of 13 unions of Madurai, 11 other than Melwar and West are backward in industry, the Tamil Nadu government has announced. 25 per cent of the value of machinery and equipment up to a maximum of Rs 1.5 crore will be given as subsidy for small and medium enterprises starting here. There is subsidy even if you expand your existing business.
A subsidy of 25 per cent of the cost of machinery and equipment, up to a maximum of Rs 25 lakh, will be provided to any micro-enterprise starting in any part of the district or expanding the old industry. To further encourage it, a subsidy rate of 2 percent per annum is given for five years. Capital subsidy is given only to manufacturing industries.
Even those who have not received subsidy within one year of starting their business with their own investment can apply. 30 percent subsidy for women, SC, ST, differently abled. Rice mill, flour mill, oil mill, engineering industries can also be started to add value to agricultural products. Small scale industries can get 20% subsidy on electricity bill for 3 years if they have 200 HP or 150 KW electricity connection.
Under the Special Capital Subsidy Scheme, there is a 25 percent subsidy for starting small, micro and medium enterprises anywhere in Madurai. There is a 5 percent interest subsidy if the loan is taken under the loan guarantee scheme.
When starting a small company in a rural area, you can get 25 percent, up to a maximum of Rs. 5 lakh, on the purchase of a 320 KVA generator. There is 50 percent subsidy on registration fee and stamp duty if you purchase a place to start a business in 11 Unions.
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