AABCS Assistance Program - (TN)

Benefits.

• 35% capital subsidy ( Not exceeding Rs 1.5 crore) on eligible project cost
• Project cost include land, plant, machinery, testing equipment and computing devices with cost of land not exceeding 20% of project cost. Vehicles shall be considered if it integral to the business process
• 6% interest subvention for loans to procure machinery and equipment during the tenure of loan not exceeding 10 years. Interest subvention will be upfront and given to banks
• Working capital sanctioned for the project shall be eligible for interest subvention for a period not exceeding 2 years
• Cover projects without credit linkage also and in such cases capital subsidy will be released back ended
• No bar on beneficiary to claim additional capital subsidy from schemes operated by agencies not controlled by Govt. of Tamil Nadu
• Beneficiaries belonging to SC/ST communities (100% owned by SC/ST persons)
• Covering new and expansion of existing enterprises
• Covering Trading related projects which are above the threshold of assistance under the existing Unemployed Youth Employment Generation programme
• Beneficiaries shall be with age limit of 55 years
• No minimum educational qualification

Who qualifies.

• Community: Must belong to the Scheduled Caste (SC) or Scheduled Tribe (ST) communities.
• Residency: Should be a resident of Tamil Nadu.
• Business Type: The enterprise should be a new venture or an expansion/diversification of an existing business.
• Project Cost: The total project cost should be within the limits specified by the scheme guidelines.
• Educational Qualification: There is no minimum educational qualification required for beneficiaries.

Focus sectors.

Official portal.