The Goa State Incentives to Encourage Investments Scheme

DETAILS The scheme "The Goa State Incentives to Encourage Investments Scheme" was launched by the Directorate of Industries, Trade and Commerce (DITC), Government of Goa. The scheme aims to create sustainable employment for the people of Goa, support environmentally sustainable industrial development while accelerating investment in the State, make the existing industry in Goa competitive, and extend the benefits of the Investment Policy schemes to beneficiaries in a time-bound manner. The applications for this scheme are accepted offline. BENEFITS Financial Assistance for New/Non-Availing Units The maximum cumulative Financial benefit under schemes to all industries shall be 50% of the Cumulative Capital investment at original value in the unit. This is increased to 70% of the Cumulative Capital investment at original value in the unit in case of lesser developed talukas. Financial Assistance for Substantial Expansion For units defined under clause (c) iv of eligibility criteria (Substantial Expansion) in the scheme guidelines, the benefit is 50% of the Substantial Expansion investment. This is increased to 70% of the Substantial Expansion investment in case of lesser developed talukas. Additional Benefit for Specific Entrepreneurs A maximum of 10% additional benefit is provided to all women and Scheduled Caste (SC)/Scheduled Tribe (ST) entrepreneurs. ELIGIBILITY The applicant must be a new or existing unit. The applicant must be a manufacturing unit classified under the Micro or Small sector to be eligible for the target schemes, unless otherwise specified in the target scheme. a) The applicant must be a unit that is going into production on or after 01-10-2017. b) The applicant must be a unit that has gone into production on or after 01-10-2007 but not availed of any of the benefit under the old schemes specified under Schedule B. c) The applicant must be a unit that has gone into production on or after 01-10-2007 but not completely exhausted benefits of the old schemes to be eligible for continuing benefits to the extent specified in this scheme. d) The applicant must be a unit that has started production after 01-10-2007 and has availed benefit under old schemes mentioned under Schedule B, and has carried out substantial expansion during the validity period of this scheme. Preference, Priority, and Reservation The applicant may receive additional benefits if they are a woman entrepreneur. The applicant may receive additional benefits if they are a Scheduled Caste (SC) entrepreneur. The applicant may receive additional benefits if they are a Scheduled Tribe (ST) entrepreneur. The applicant may receive higher financial benefits (70% instead of 50%) if the unit is located in one of the lesser developed talukas: Pernem, Satari, Bicholim, Sanguem, Quepem, Canacona, and Dharbandora.