A Subsidy is a sum of money granted by the state or a public body to help an industry or business to keep low price of a commodity or service. Governments seek to implement subsidies to encourage production and consumption in specific industries. A subsidy is a direct or indirect payment to individuals or firms, usually in the form of a cash payment from the government or a targeted tax cut. In economic theory, subsidies can be used to offset market failures and externalities in order to achieve greater economic efficiency. The objective of subsidy is to bolster the welfare of the society.
Why you Need A Subsidy Consultant?
Subsidies act as a huge motivator for various business and can often be the reason behind early success of various industries. For many previous years people have been benefitted from acquiring subsidies, but on the other hand availing subsidies requires deep knowledge and connection in this line. Without proper connections & knowledge trying to avail subsidies, which you are entitled to, is huge waste of time and economical resources.
Where is Subsidy Applicable?
Government of India provides subsides (Financial Assistance / Grant-in Aid) for various sectors to support and promote its various initiatives Like Make-In-India, Go-vocal-for-Local, Minimum Support Prices, Agriculture Developoment etc.
Covers all the Available Subsidies
We at S K Nagda and Company, CA in Udaipur , have got our clients covered for all the available subsidies and our endeavour is to ensure maximum benefits for our clients. With high success rate we proudly stand before you and to cater all of you requirement.
We expert CA in Udaipur Rajasthan, adopt a Result Oriented Approach which is flexible and emphasizes on delivery and value. We are highly successful when it comes to acquiring desired subsidy.
We experienced CA in Udaipur, Rajasthan, India assist in getting you the maximum benefit for your business through preparation of documents , representation and coordination with various targeted departments and help you in timely, and hassle free a availment of grants.
Subsidies Providing Bodies
- National Bank for Agriculture and Rural Development (NABARD)
- Micro , Small and Medium Enterprises (MSME)
- Ministry of Food Processing Industry (MFPPI)
- Small Industrial Development Bank of India (SIDBI)
- Agricultural and Processed Food Products Export Development Audthority (APEDA)
- National Horticultural Board (NHB)
- National Horticultural Mission (NHM)
- Ministry of Textiles (MOT-TUF)
Subsidy Scheme of Government of India
Scheme for Technology Upgradation/ Establishment/ Modernization for Food Processing Industries
This Scheme covers the following activities: Setting up/expansion/modernization of food processing industries covering all segments viz fruits & vegetable, milk product, meat, poultry, fishery, oil seeds and such other agri-horticultural sectors leading to value addition and shelf life enhancement including food flavours and colours, oleoresins, spices, coconut, mushroom, hops. The assistance is in the form of grant subject to 25% of the plant & machinery and technical civil work subject to a maximum of 50 lakh in general areas and 33.33% upto 75 lakh in difficult areas (J&K, HP, Uttarakhand, Sikkim, North Eastern States, Andaman & Nicobar).
Integrated Development of Leather Sector (IDLS)
The scheme is aimed at enabling existing tanneries, footwear, footwear components and leather products units to upgrade leading to productivity gains, right-sizing of capacity, cost cutting, design and development simultaneously encouraging entrepreneurs to diversify and set up new units. The financial assistance under the Scheme will be investment grant to the extent of 30% of cost of plant and machinery for MSMEs and 20% of cost of plant and machinery for other units (i.e. Non-MSMEs ) subject to ceiling of 50 lakh for technology up gradation /modernization and/or expansion and setting up a new unit. The rate of assistance would be at 20% for all units (both MSMEs and Non-MSMEs ) subjects to limit as laid down in the scheme.
Technology & Quality Upgradation Support for MSMEs (TEQUP)
The TEQUP scheme focusses on enhancing competitiveness of MSMEs through Energy Efficiency and Product Quality Certification, reduction in emission of Green House Gases (GHG). A grant assistance to the extent of 25% of the project cost for implementation of Energy Efficient Technologies (EET) subject to maximum of 10 lakh is provided. MSMEs to be audited for energy consumption by a qualified Energy Auditor.
Credit Linked Capital Subsidy Scheme for Technology Upgradation (CLCSS)
The Scheme aims at facilitating Technology Upgradation of Micro and Small Enterprises by providing 15% capital subsidy [ceiling of 15 lakh] on institutional finance availed by them for induction of well established and improved technology in approved sub-sectors/ products. The admissible capital subsidy is calculated with reference to purchase price of Plant and Machinery. Maximum limit of eligible loan for calculation of subsidy is 100 lakh.
Government Subsidy for Small Business for Cold Chain
The objective of the scheme of Cold Chain, Value Addition and Preservation Infrastructure is to provide integrated cold chain and preservation infrastructure facilities without any break from the farm gate to the consumer. It covers pre-cooling facilities at production sites, refegerted vans, mobile cooling units as well as value addition centres which includes infrastructural facilities like Processing/Multi-line Processing/ Collection Centres, etc. for horticulture, organic produce, marine, dairy, meat and poultry etc. Individual , Groups of Entrepreneurs,Cooperative Societies, Self Help Groups(SHGs), Farmers Producer Organizations (FPOs), NGOs, Central/State PSUs etc. with business interest in Cold Chain solutions are eligible to setup integrated cold chain and preservation infrastructure.
Scheme for Extension of Financial Assistance for Generator Set / Diesel Engine
The purpose of the scheme is to give one time subsidy to fibre/ curled coir production units in the brown fibre sector to carry out production at periods of power cut/ low voltage and to ensure supply of brown fibre and curled coir to meet the requirements of rubberized coir products, coir rope, yarn and mats and matting sectors. The quantum of subsidy for one unit will be 25% of the cost of generator set subject to a maximum of 50000/-. This will be a one time financial assistance and will be granted on the basis of expenditure incurred by the unit.
Extension of Financial Assistance to Coir units in the Brown Fibre
The Coir Board runs a scheme for financial assistance to the coir units in the brown fibre sector. The rate of financial assistance under the scheme is 25% of the cost of equipment and infrastructural facilities subject to certain ceiling limits as laid down in the scheme.
ISO 9000/ISO 14001 Certification Reimbursement Scheme
The scheme provides incentive to those small scale/ancillary undertaking who have acquired ISO 9000/ISO 14001/HACCP certifications.
Prime Minister Employment Generation Programme (PMEGP)
The scheme is implemented by Khadi and Village Industries Commission (KVIC), as the nodal agency at the national level. At the state level, the scheme is implemented through State KVIC Directorates, State Khadi and Village Industries Boards (KVIBs) and District Industries Centres (DICs) and banks. The subsidy under the scheme is routed by KVIC through the identified banks for eventual distribution to the beneficieries.
Support for Entrepreneurial and Managerial Development of SMEs
The objective of the scheme is to provide early stage funding for nurturing innovative business ideas (new indigenous technology, processes, products, procedure, etc.) which could be commercialised in a year. Under this scheme , financial assistance is provided for setting up of business incubators. The cost may vary between Rupees 4-8 lakh for each incubatee/idea, subject to overall ceiling of Rupees 62.5 lakh for each BI.
Lean Manufacturing Competitiveness Scheme for MSME
The scheme provides assistance for implementation of Lean Manufacturing Techniques primarily cost of Lean Manufacturing consultant (80% by GoI and 20% by beneficiaries).
Marketing Support/Assistance to MSMEs (Bar Code)
To provide financial assistance to Micro and Small Enterprises (MSEs) to enhance their marketing competitiveness. Under this scheme MSEs are encouraged and motivated for use of bar- codes.
Technology Upgradation Fund Scheme (TUFS)
Ministry of Textiles introduced the Technology Upgradation Fund Scheme (TUFS) for textiles and jute industry to facilitate induction of state-of-the- art technology by the textile units. Under the Amended TUFS effective from January 13, 2016, only Capital Subsidy is provided [subject to a cap of 30 crore] for eligible units in the textile sector
Marketing Assistance Scheme by NSIC
The assistance is provided for following activities:
- Organizing exhibitions abroad and participation in international exhibitions/trade fairs.
- Cosponsoring of exhibitions organized by other organizations/industry associations/agencies.
- Organizing buyer-seller meets, intensive campaigns and marketing promotion events.