Goa Interest Subsidy Scheme 2017 — Up to ₹27.5L a Year for MSMEs — Frequently Asked Questions

The scheme caps the annual subsidy at ₹25,00,000. Where all the applicants are women, or the enterprise is led by Scheduled Caste or Scheduled Tribe applicants, that ceiling is raised to ₹27,50,000 per annum. Claims covering only a part of the year are worked out on a pro-rata basis.

No. The window is rolling, which means applications are accepted right through the year rather than against a single last date. Even so, submissions have to respect any prescribed time limits set by the Directorate of Industries, Trade and Commerce, so it is best to file your claim within the period allowed for the year in question.

Two kinds of Goa-based enterprises qualify: micro, small and medium manufacturing industries, and hinterland eco-tourism projects set up in the state's lesser developed talukas. In both cases production must have commenced after 1 October 2017, the unit must fall under the White, Green or Orange environmental category, at least 60% of regular employees must be Goan manpower, and the unit must be servicing a term loan, a working capital loan, or both, from a specified lender.

Both term loans and working capital loans are covered. The borrowing has to come from one of the specified financial institutions: nationalized banks, scheduled private banks, co-operative banks, Economic Development Corporation Limited, or an RBI-recognised non-banking financial institution.

For a term loan, the subsidy works out to 30% of the interest paid. For a working capital loan, it is whichever is lower between 1.5% of the unit's total turnover and 30% of the interest paid. In every case the final figure is subject to the scheme's annual ceiling.

The subsidy cannot run beyond seven years. That seven-year period translates into 27 continuous quarters counted from the date the first claim is submitted.

No. This is a subsidy that offsets the interest you are already paying on your borrowings, so it is non-dilutive — it does not take shares in your business or reduce your ownership in any way.

You need the prescribed application form downloaded from the official website, a passport-sized photograph (signed across, if that is called for), and self-attested copies of all the supporting documents. If you run multiple units under one consolidated balance sheet, add a Chartered Accountant certificate that gives unit-wise interest details, and make the claim only for the eligible unit or units.

Applications go through scrutiny and are then placed before a Task Force Committee for recommendation. The committee includes the Director, Department of Tourism, as a member, along with the other members specified under the Umbrella Scheme. It checks the application and documents against the eligibility criteria before recommending a case for approval.

Download the prescribed application form, fill in all mandatory fields, attach the photograph and self-attested documents, and submit the signed set to the Directorate of Industries, Trade and Commerce in Goa within the prescribed time limits. The scheme document is available on the official Goa government portal at https://www.goa.gov.in/wp-content/uploads/2019/10/target-schemes.pdf

No. DPIIT (Startup India) recognition is not listed as a mandatory requirement for Goa Interest Subsidy Scheme 2017 — Up to ₹27.5L a Year for MSMEs, though having it can strengthen your application and unlock other benefits.

Goa Interest Subsidy Scheme 2017 — Up to ₹27.5L a Year for MSMEs is offered by Directorate of Industries, Trade and Commerce, Government of Goa, a government body. It is provided as non-dilutive funding.

Apply directly through the official application link on this page. Review the eligibility criteria and prepare your startup documents before you begin.