- Details
- Benefits
- Eligibility
- Application Process
- Documents Required
- Frequently Asked Questions
- Sources And References
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Annal Ambedkar Business Champions Scheme
Tamil Nadu
Details
Benefits
- Under the scheme, the State Government will provide a 35% capital subsidy on the Eligible Project Cost, not exceeding ₹1.5 Crore.
- A 6% interest subvention will be given for loans sanctioned under this scheme.
Eligibility
- The applicant should be a resident of the State of Tamil Nadu.
- The beneficiaries shall be persons belonging to SC/ST communities. Enterprises supported under the scheme shall be 100% owned by persons belonging to SC/STs. The enterprises may have any legal personality allowed to conduct business for profit as per prevailing laws which include sole proprietorship, partnership, and company.
- The scheme can support both new enterprises and expansion of existing enterprises.
- The eligible enterprises can be business enterprises in the areas of manufacturing and services. Trading-related projects which are above the threshold of assistance under the existing Unemployed Youth Employment Generation Programme (UYEGP) scheme will also be covered.
- The age limit for beneficiaries will be 55 years.
- There shall be no minimum educational qualification for beneficiaries.
- There will be no bar on the beneficiary to claim additional capital subsidy from schemes operated by agencies not controlled by the Government of Tamil Nadu. This will include the Credit Linked Capital Subsidy Scheme (CLCSS) of the Union Government, schemes of Coir Board, etc.,
- Entrepreneurship Development Training will be given to all beneficiaries by Entrepreneurship Development and Innovation Institute, as done in the case of the New Entrepreneur-cum- Enterprise Development Scheme (NEEDS).
Application Process
Documents Required
Frequently Asked Questions
Who are the beneficiaries?
The beneficiaries shall be persons belonging to SC/ST communities. Enterprises supported under the scheme shall be 100% owned by persons belonging to SC/STs. The enterprises may have any legal personality allowed to conduct business for profit as per prevailing laws which include sole proprietorship, partnership, and company.
What is the age limit to apply under the scheme?
The age limit for beneficiaries will be 55 years.
Anyone residing outside Tamil Nadu State can start business in Tamil Nadu under the scheme?
No, the applicant should be a resident of Tamil Nadu State.
Is there any income ceiling to get assistance under the scheme?
No, there is no family income ceiling prescribed for assistance in setting up projects under this scheme.
What does project cost include?
The project costs include land, plant, machinery, testing equipment, and computing devices with the cost of land not exceeding 20% of the project cost. Vehicles shall be considered if it is integral to the business process.
How much maximum subsidy is available under this scheme?
Under the scheme, the State Government will provide a 35% capital subsidy on the Eligible Project Cost, not exceeding ₹1.5 Crore.
What should be the minimum qualification required to avail of the benefits of the scheme?
There shall be no minimum educational qualification for beneficiaries.
Is this scheme only for the new enterprises?
No, the scheme can support both new enterprises and the expansion of existing enterprises.
What type of businesses are covered under the scheme?
The eligible enterprises can be business enterprises in the areas of manufacturing and services. Trading-related projects which are above the threshold of assistance under the existing Unemployed Youth Employment Generation Programme (UYEGP) scheme will also be covered.
Will the Entrepreneurship Development Training be given to all beneficiaries?
Yes, Entrepreneurship Development Training will be given to all beneficiaries by Entrepreneurship Development and Innovation Institute,
At what rate will interest subvention be given for loans sanctioned under this scheme?
A 6% interest subvention will be given for loans sanctioned under this scheme.
For how many years interest subvention shall be sanctioned for working capital of the project?
The working capital sanctioned for the project shall be eligible for interest subvention for a period not exceeding 2 years.
Who are the members of State Level Steering Committee?
A State Level Steering Committee for the scheme shall be constituted with the Secretaries of Finance, Micro, Small and Medium Enterprises, Adi Dravidar and Tribal Welfare Departments, Industries Commissioner and Director of Industries and Commerce, Commissioner of Adi Dravidar Welfare and Commissioner of Tribal Welfare. This Committee will review the scheme once a quarter and suggest necessary modifications, if necessary.
Is there any bar on beneficiaries to claim additional capital subsidy?
No bar on beneficiaries to claim additional capital subsidy from schemes operated by agencies not controlled by Govt. of Tamil Nadu
How can a beneficiary apply under the scheme?
The applicant willing to avail loan under the AABCS scheme should fill up the online application through the Official Website of the Micro, Small and Medium Enterprises Department, Government of Tamil Nadu. https://msmeonline.tn.gov.in/aabcs/index.php
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Check Eligibility
Annal Ambedkar Business Champions Scheme
Tamil Nadu
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