Goa's Self Help Groups (SHGs) will get a golden handshake from the state government in the form of subsidy, which will help them set up their own venture with just five per cent capital investment.
Goa Chief Minister Digambar Kamat will be unveiling this subsidy on January 26 covering small-time self help groups spread across the states.
"The entire loan amount and seed capital works out to 95 per cent of the capital. The self help group will have to manage only 5 per cent of the amount," Sameer Anil Salgaocar, Chairman, Goa Handicraft Rural Small Scale Industries Development Corporation, said.
Besides, officials tell, subsidy to the tune of Rs 50,000 as a seed capital would be extended by the state government. Also, the state will pitch in the required support to help the new entrepreneurs get loan from the banks for the start ups.
The scheme would be funded through Industries department and implemented through handicraft department.
All traditional business ventures like agro-processing, cashew roasting, coconut oil extraction, production of chikki and biscuits, pickles, papads, home made embroidery, perfumes and handicrafts would be covered under the ambitious scheme.
Salgaoncar said the scheme was announced by Kamat in the last budget. The state has a corpus of Rs 40 lakh for the implementation of the scheme.
The officials tell this is for the first time that the state government will be directly financing the ventures of the SHGs in the state.
"Earlier we had fundings for training and other purposes," said Nikhil Desai, Managing Director, Handicraft Corporation.
He said the Corporation would now be more able to help the artisans who were finding it difficult to get money to start their own business.
