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Scheme to benefit unemployed youth in Union Territory

Staff Reporter

25 to 50% subsidy for small businesses

PUDUCHERRY: The Territorial Administration has rolled out a scheme to benefit unemployed people and to help those already running small-scale enterprises to improve their business.

The scheme targeting four kinds of businesses, namely, mechanised laundries, beauty parlours or saloons, tailoring units and tea or coffee stalls will help them get 25 to 50 per cent subsidy of the project cost. Government has allocated Rs. 25 lakh for the scheme.

"As the project takes off, the area of business activity that comes under the purview of the scheme, will be expanded," Industries and Agriculture Minister V. Vaithilingam told reporters on Friday.

As per the scheme, anyone opting for a bank loan to start or expand the business in these areas would get Rs.10,000 to Rs. 25,000 as subsidy.

"Fifty per cent of the project cost, excluding pre-operative and preliminary expenses, will be granted as subsidy for projects not exceeding Rs.10,000. And 25 per cent of the project cost will be granted as subsidy for project cost exceeding Rs 10,000 and below Rs 2 lakh," according to a notification issued by Lt. Governor Mukut Mithi on January 24.

The scheme titled as "Motivation of Unemployed Persons to Start Self-employment Enterprises Scheme" would be implemented by District Industries Centre (DIC) with active co-ordination of 34 branches of various banks, the Minister said.

The Government aims to provide assistance to 1,000 persons in the next three months and from the next financial year the number of beneficiaries would be higher, he added.

The application forms would be given free of cost from the DIC office in Thattanchavady from February 3.

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