Updated on December 19, 2024 03:50:39 PM
The MSME Subsidy in Maharashtra aims to promote the growth and development of Micro, Small, and Medium Enterprises (MSMEs) in the state. The MSME Subsidy in Maharashtra recognizes the role of Micro, Small, and Medium Enterprises to boost the economic development, create jobs and encourage entrepreneurship to support these businesses. The MSME Subsidy in Maharashtra offers financial assistance for capital investment, technology upgradation and skill development to aid the MSMEs overcome hardships and promote competition. The MSME Subsidy in Maharashtra is designed to boost industrialization, increase production, make the state sustainable for economic growth to enhance the overall development of the state with access to resources, facilities and reduction of financial burdens.
The MSME Subsidy in Maharashtra is given to Micro, Small and Medium Enterprises to help them achieve financial support for setting up the enterprises, for expansion and improvement. The MSME Subsidy in Maharashtra is to support the development of entrepreneurship and industrialization, as the MSME policy assists to lessen the financial burden for these enterprises and contributes to the generation of employment in various regions of the state. By making MSME Subsidy in Maharashtra available to the MSMEs, providing access to better technology as well as increasing productivity, the operation is made better and the quality as well as competitiveness of the products are also made better. The MSME Subsidy in Maharashtra does the same to rural industrial development and supports exportation through the development of infrastructures. On the same note, tax reliefs and allowances under the MSME Subsidy in Maharashtra help to bring down operating expenses which in return assist MSMEs to become sustainable players within the economies of Maharashtra.
The Micro, Small, and Medium Enterprises can benefit from MSME subsidy in Maharashtra and it supports economic growth and development of the state as well. Some of the benefits of MSME subsidy schemes are listed below:
The MSME Subsidy in Maharashtra for Micro, Small, and Medium Enterprises consist of 11 subsidy programs which are:
Prime Minister’s Employment Generation Programme (PMEGP)
| Criteria | Details |
|---|---|
| Eligible Applicants | Individuals aged 18 and above |
| Margin Money Subsidy | 15%-35% of project cost |
| Project Cost Limits | Manufacturing: up to Rs. 50 Lakh, Service: up to Rs. 20 Lakh |
| Special Category Subsidy | Rural: 35%, Urban: 25% for SC/ST, Women, Minorities, Ex-Servicemen, Transgenders, Aspirational Districts, and NER |
Second Loan for PMEGP/REGP/MUDRA Units
| Criteria | Details |
|---|---|
| Eligible Units | Existing PMEGP/REGP/MUDRA units |
| Maximum Subsidy | 15% of project cost (20% for NER and Hill States) |
| Additional Support | Expansion/upgrade for manufacturing and service/trading units |
Credit Guarantee Scheme for Micro & Small Enterprises (CGTMSE)
| Criteria | Details |
|---|---|
| Eligible Applicants | Existing and aspiring entrepreneurs |
| Credit Guarantee | Up to Rs. 2 crore without collateral |
| Guarantee Coverage | 85% for micro enterprises (up to Rs. 5 lakh), 75% for others, 50% for retail activity |
Scheme of Fund for Regeneration of Traditional Industries (SFURTI)
| Criteria | Details |
|---|---|
| Eligible Applicants | Artisans from traditional industries (e.g., handicrafts, textiles) |
| GoI Support | Up to Rs. 2.5 crore (up to 500 artisans); Rs. 5 crore (more than 500 artisans) |
| Additional Support | Production facility, skill development, exposure visits, buyer-seller meets, e-commerce |
National SC-ST Hub Scheme
| Criteria | Details |
|---|---|
| Eligible Applicants | Aspiring and existing SC/ST entrepreneurs |
| Plant & Machinery Subsidy | 25% or up to Rs. 25 lakh |
| Reimbursement Support | Fees for bank loans, testing services, e-commerce, NSI registration |
| Skill Training | Free with trade-specific tool kits |
A Scheme for Promotion of Innovation, Rural Industries, and Entrepreneurship (ASPIRE)
| Criteria | Details |
|---|---|
| Eligible Entities | Govt. and private agencies/institutions for setting up LBIs |
| Financial Suppor | Up to Rs. 1 crore (Govt.), Rs. 75 lakh (Private) for plant & machinery |
| Additional Support | Operational expenditure for incubation and skill development |
Khadi Gramodyog Vikas Yojana (KGVY)
| Criteria | Details |
|---|---|
| Eligible Applicants | Khadi institutions and artisans (age 18-55) |
| Subsidy on Prime Cost | Cotton/Muslin, Wool, Polyvastra: 35%; Silk Khadi: 20% |
| Interest Rate for KIs | 4%, with KVIC covering additional interest as subsidy |
| Workshed Subsidy | Individual: Rs. 1,20,000 (75% cost), Group: Rs. 80,000 per artisan (10 sqm each) |
Credit Guarantee Scheme for Subordinate Debt (CGSSD) for Stressed MSMEs
| Criteria | Details |
|---|---|
| Target Group | MSMEs under stress or NPA as of April 30, 2020 |
| Support Type | Subordinate debt as equity to enhance liquidity |
| Credit Limit | 50% of promoter’s stake (equity + debt) or Rs. 75 lakh, whichever is lower |
Industrial Promotion Subsidy (IPS) by Maharashtra Industrial Development Corporation (MIDC)
| Criteria | Details |
|---|---|
| Eligible Units | Expanding and new MSMEs |
| IPS on SGST | 100% of SGST on eligible sales within Maharashtra |
Power Tariff Subsidy (Maharashtra)
| Criteria | Details |
|---|---|
| Eligible Units | MSMEs in Maharashtra |
| Subsidy | Rs. 1/unit in select regions; Rs. 0.50/unit in other areas for 3 years |
Additional Incentives for Strengthening MSMEs (Maharashtra)
| Incentive Type | Subsidy Rate | Maximum Assistance |
|---|---|---|
| Technology Upgradation | 5% on additional equipment | Rs. 25 lakh |
| Cleaner Production Measures | 25% on additional equipment | Rs. 5 lakh |
| Patent Registration (National) | 75% of expenses | Rs. 10 lakh |
| Patent Registration (International) | 75% of expenses | Rs. 20 lakh |
| Water Audit | 75% of cost | Rs. 1 lakh |
| Energy Audit | 75% of cost | Rs. 2 lakh |
| Water Conservation Equipment | 50% of cost | Rs. 5 lakh |
The MSME Subsidy in Maharashtra promotes growth of Micro, Small, and Medium Enterprises through financial assistance and incentives which boosts industrialization in the state, increases competitiveness and generates job opportunities, particularly in less developed regions. The MSME Subsidy in Maharashtra includes various programs which promotes entrepreneurship and lowers the financial difficulties that enterprises face during the initial phase of setting up a business. The MSME Subsidy in Maharashtra also offers special incentives for women entrepreneurs that are looking to start a business to support inclusivity in the economy of the state. The MSME subsidy in Maharashtra helps in development of different regions, promotes exports and significantly aids in the economic growth of the state by lowering the operational costs of businesses through infrastructural development.
At Professional Utilities, we leverage our industry knowledge and expertise to help businesses navigate complex regulations, minimize risks, and optimize operations for maximum efficiency and profitability.
The government implemented the MSME Subsidy in Maharashtra as an initiative to provide financial assistance and incentives to the Micro, Small, and Medium Enterprises aimed for development of their establishment and growth to support the economic development of the state.
The MSME Subsidy in Maharashtra include various subsidy programs for financial assistance and incentives of Micro, Small and Medium Enterprises, which are:
The Micro, Small, and Medium Enterprises are eligible to apply for MSME Subsidy in Maharashtra based on the category of the region their establishment falls under.
The MSME Subsidy in Maharashtra offers benefits like expansion of business, generation of jobs, reducing business costs through tax exemptions and interest subsidies for Micro, Small and Medium Enterprises as well as for economic development of the state.
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