Swarozgaar Yojana to boost greenfield projects

Shimla, July 2

The recently introduced “Rajiv Gandhi Swarozgaar Yojana-2023”, which aims at promoting self-employment and entrepreneurship among the youth, will also boost greenfield projects across the state.

A press note issued by the state government said that the incentives offered under the scheme specifically apply to the greenfield projects. By supporting green field projects, the scheme paves the way for innovative ideas, cutting-edge technologies and sustainable industrial ecosystem.

This impressive feature offers incentives, concessions and facilities to the eligible persons aged 18 to 45 years, empowering them to establish new industrial enterprises in the state. The banks would provide 90 per cent of the project cost as term or composite loan, while the remaining 10 per cent would have to be contributed by the beneficiary. Women applicants would get 5-year relaxation in the upper-age limit.

Under the investment subsidy component of the scheme, eligible applicants would receive a subsidy of 25 per cent on the total investment, subject to a maximum investment ceiling of Rs 60 lakh.

CM Sukhvinder Sukhu said, “The total project cost, including working capital, should not exceed Rs 1 crore. The investment subsidy limit would be 30 per cent for the Scheduled Castes, Scheduled Tribes, whereas it would be 35 per cent for women-led enterprises and Divyangjan beneficiaries.”