Coir Udyami Yojana is a credit linked subsidy scheme for setting up of coir units with project cost upto Rs.10 lakhs plus one cycle of working capital, which shall not exceed 25% of the project cost. Working capital will not be considered for subsidy.
Overview of Coir Udyami Yojana
|Name||Coir Udyami Yojana|
|Also known as||CUY|
|Funded by||Central Government|
|Launched by||Government of India|
|Nodal Ministry||MMinistry of MSME|
|Objective||entrepreneurs in setting- up coir manufacturing units for a maximum project cost of up to Rs. 10 lakh.|
|Sector||Central sector scheme|
Objective and Benefits of Coir Udyami Yojana
The scheme main objective is to facilitate sustainable development of the Coir Industry in the country and is under the ambit of Minsitry of MSME.
•Maximum admissible cost of the project is 10 lakhs plus working capital, which shall not exceed 25% of the project cost. The banks shall consider composite loan instead of term loan to cater to the working capital requirements also. This should be exclusive of the Rs.10 lakhs limit proposed. However, the subsidy will be computed excluding the working capital component.
•Beneficiary’s contribution 5% of the project cost.
•Bank credit Rate- 55%
•Rate of Subsidy- 40% of the project
How to apply for Coir Udyami Yojana