The Ministry of Micro, Small and Medium Enterprises(MSME) has set an investment target to the extent of ₹2.52 crore for 2024-25 under Unemployed Youth Employment Guarantee Programme (UYEGP) in Tiruppur district.
The maximum subsidy is ₹3.75 lakh Seventy-nine beneficiaries will be facilitated to establish grocery shops, garment showrooms, rice and oil trades, mobile sales, computer sales, and accessories for readymade garments. A target of ₹63 lakh has been set as subsidy component.
Under the UYEGP scheme, meant for self-employment through setting up manufacturing / service / business enterprises, loans up to a maximum of ₹15 lakh, ₹5 lakh and ₹5 lakh respectively with subsidy assistance from the State government up to 25% of the project cost are forwarded to beneficiaries, officials said.
Under UYEGP, there were 119 beneficiaries in 2020-21 and 134 in 2019-20. Subsidy amount disbursed during the two years was 1.35 crore and 1.18 crore respectively, according to the data depicted in the Potential Linked Plan 2022-23 of NABARD for Tiruppur district.
The District Industries Centre in Tiruppur expects more number of applications for this scheme this year owing to the age extension announced last year, sources added.
In its order, the MSME Ministry, last year, enhanced the upper age limit for general category entrepreneurs from 35 years to 45 years and for special category entrepreneurs (Women/ SC/ ST/ BC/ MBC/ Minorities/ Ex-Servicemen/ Transgenders/ Differently-abled persons) from 45 to 55 years.
On the request of Industries Commissioner and Director of Industries and Commerce, the age limit extension was decided upon factoring in the vital role UYEGP and NEEDs (New Entrepreneur-cum-Enterprise Development Scheme) play in ensuring equitable and inclusive growth across the State.
