Subsidies available for setting up a brick enterprise

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Credit Guarantee Fund Scheme for Micro & Small Enterprises (CGMSE):

Credit Guarantee Fund Scheme for Micro & Small Enterprises (CGMSE): The CGMSE provides credit guarantee cover to the collateral free-credit provided to Micro & Small Enterprises by the bank. Under this scheme, new or existing SMEs can avail credit facilities up to Rs100 lakh without any collateral security and third party guarantee. CGMSE provides the maximum extent of guarantee for Micro Enterprises - up to Rs5 lakh is 85%, Rs5 to 50 lakh is 75% and above Rs50 up to 100 lakh is 75% plus 50% of amount in default above Rs50 lakh.

Credit Linked Capital Subsidy Scheme (CLCSS):

The CLCSS is operated by the Ministry of Small Scale Industries (SSIs) for upgrading technology in SSIs. The scheme provides a capital subsidy of 15% to SSIs. For this scheme, the eligible amount of subsidy is based on the actual loan amount in the range of Rs40 lakh to Rs100 lakh.

Prime Minister’s Employment Generation Program (PMEGP):

PMEGP is a central sector scheme to be administered by the Ministry of Micro, Small and Medium Enterprises. Under this program, financial assistance is provided for setting up of micro enterprises in the manufacturing sector, each costing up to Rs25 lakh. The assistance is provided in the form of subsidy on the project cost. This subsidy goes up to 25% (General Category) and 35% (SC/ST/Women) in rural areas while it is 15% (General Category) and 25% (SC/ST/Women) in urban areas.

Khadi and Village Industries Commission (KVIC):

The Khadi and Village Industries Commission is a statutory organisation under the administrative control of the Ministry of Micro, Small and Medium Enterprise. It acts as the single nodal agency at the National level. The PMEGP is implemented by Khadi and Village Industries Commission. Government subsidies under the PMEGP are routed by KVIC through certain identified Banks for eventual distribution to entrepreneurs.