‘Interest Subvention Scheme’ for bajra processing units notified by Haryana Police

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Chandigarh, July 7

To promote post-harvest management, processing and branding of bajra, the state government has notified the “Interest Subvention Scheme” for the bajra processing units. The initiative aims to strengthen the bajra market and improve the livelihoods of farmers by providing financial assistance to processing units.

Maximum assistance Rs 25 lakh per annum

Under the scheme, the processing units will get a financial assistance in the form of interest subvention at 7 per cent per annum or the actual rate of interest paid, whichever is less. The maximum assistance provided will be Rs 25 lakh per financial year on the term loan availed by the MSMEs for bajra processing.

An official spokesperson said the primary objective of the scheme is to support bajra processing units (both new and for expansion/diversification) by providing interest subvention on the term loans availed by these units.

Under the scheme, the processing units will get a financial assistance in the form of interest subvention at 7 per cent per annum or the actual rate of interest paid, whichever is less.

The spokesperson said the scheme covers various types of enterprises, as per the Micro, Small and Medium Enterprises Development Act, 2006. In case of micro enterprise, investment in plant and machinery or equipment does not exceed Rs 1 crore and turnover does not exceed Rs 5 crore or as amended by the Central Government under the MSME Development Act, 2006, from time to time, he added.

Similarly, in case of small enterprise, the investment in plant and machinery or equipment does not exceed Rs 10 crore and turnover does not exceed Rs 50 crore, while in medium enterprise, investment in plant and machinery or equipment does not exceed Rs 50 crore and turnover does not exceed Rs 250 crore.

He said all bajra processing MSME units, which have availed term loan for bajra processing from financial institutions like Cooperative banks, Sarv Haryana Kshetriya Gramin Bank, NABARD, SIDBI/EXIM, other commercial banks under the regulation/aegis of the RBI, would be eligible for the scheme.