As per the Industrial Policy 2003 of Goa government, these schemes are valid up to 2014 and are expected to be extended. This subsidy is an innovative concept of supporting sustainable employment of local youth that lays stress on generation of employment and not on capital deployed.
Subsidy would be applicable to employees of all SSI units and in specified categories of medium and large scale units whose gross salary is less than ` 10,000 per month while the actual benefit would be restricted to a maximum salary of ` 6,000 per month.
There will be a ceiling under maximum subsidy with limits of ` 6 lakh per annum for SSI units and ` 12 lakh per annum to medium and large scale units. Subsidy will be for a period of 5 years, in case of new units while for existing SSI units and sick units under revival plan, it would be ranging from 2 to 4 years as per criteria laid down.
Subsidy ranges from 10 – 40 per cent depending upon category, location of the unit, etc.
New units having 80 per cent of local manpower employed amongst its permanent employees are eligible. However, existing units in SSI sectors and also sick units under revival plan would also be eligible for periods specified in the scheme.
(This information is compiled by GEMS – Goa Entrepreneurs Mentoring Services Trust. Readers can email queries to email@example.com along with contact details)