The Goa State Incentives to Encourage Investments Scheme

##### *Financial Assistance for New/Non-Availing Units*

• The maximum cumulative Financial benefit under schemes to all industries shall be 50% of the Cumulative Capital investment at original value in the unit.
• This is increased to 70% of the Cumulative Capital investment at original value in the unit in case of lesser developed talukas.

##### *Financial Assistance for Substantial Expansion*

• For units defined under clause (c) iv of eligibility criteria (Substantial Expansion) in the scheme guidelines, the benefit is 50% of the Substantial Expansion investment.- This is increased to 70% of the Substantial Expansion investment in case of lesser developed talukas.

##### *Additional Benefit for Specific Entrepreneurs*

• A maximum of 10% additional benefit is provided to all women and Scheduled Caste (SC)/Scheduled Tribe (ST) entrepreneurs.

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• The applicant must be a new or existing unit.

• The applicant must be a manufacturing unit classified under the Micro or Small sector to be eligible for the target schemes, unless otherwise specified in the target scheme.

a) The applicant must be a unit that is going into production on or after 01-10-2017.

b) The applicant must be a unit that has gone into production on or after 01-10-2007 but not availed of any of the benefit under the old schemes specified under Schedule B.

c) The applicant must be a unit that has gone into production on or after 01-10-2007 but not completely exhausted benefits of the old schemes to be eligible for continuing benefits to the extent specified in this scheme.

d) The applicant must be a unit that has started production after 01-10-2007 and has availed benefit under old schemes mentioned under Schedule B, and has carried out substantial expansion during the validity period of this scheme.

##### *Preference, Priority, and Reservation*

• _The applicant may receive additional benefits if they are a woman entrepreneur._
• _The applicant may receive additional benefits if they are a Scheduled Caste (SC) entrepreneur._
• _The applicant may receive additional benefits if they are a Scheduled Tribe (ST) entrepreneur._
• _The applicant may receive higher financial benefits (70% instead of 50%) if the unit is located in one of the lesser developed talukas: Pernem, Satari, Bicholim, Sanguem, Quepem, Canacona, and Dharbandora._

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##### *Step 1: Registration Under The Umbrella Scheme*

• The applicant must first register under the Umbrella Scheme using the common application form appended to the scheme as Schedule ‘E’.- This form requires detailed unit information, including registration details such as the Permanent Registration Certificate, Entrepreneurs Memorandum–II, or Udyog Aadhaar Memorandum number and date.
• It also requires details regarding the Cumulative Capital Investment and information about the proprietor or promoter, including their Aadhaar Number and whether they are claiming benefits under the Scheduled Caste, Scheduled Tribe, or Woman category.

##### *Step 2: Filing Application For Target Schemes*

• After registering under the Umbrella Scheme, the applicant must apply to the Director, Directorate of Industries, Trade and Commerce (DITC), giving details as per the prescribed proforma for the specific Target Scheme.
• The application must be filed according to the timeline mentioned in Schedule A for the respective target scheme.
• The applications for each target scheme shall only be accepted and placed before the Task Force Committee during the specific time period as specified in Schedule A.

##### *Step 3: Scrutiny And Recommendation By The Task Force Committee*

• The submitted application will be reviewed and scrutinized by the Task Force Committee (TFC), which is constituted under this Umbrella Scheme.
• The Committee comprises several common members, including the Chief Executive Officer of the Goa Investment Promotion and Facilitation Board as the Chairman, and the General Manager (DIC) of the Directorate of Industries, Trade and Commerce as the Member Secretary.
• The Task Force Committee is responsible for recommending the benefits to be granted under the target schemes.

##### *Step 4: Financial Sanction By Competent Authority*

• The competent financial authority shall sanction or reject the benefits based on the recommendation of the Task Force Committee within one month of receiving such recommendation.
• Financial sanctions of up to ₹10,00,000/- per disbursement per scheme shall be accorded by the Director of Industries, Trade and Commerce.
• Financial sanction for amounts above ₹10,00,000/- up to ₹20,00,000/- per disbursement per scheme shall be accorded by the Secretary, Department of Industries, and benefits above ₹20,00,000/- per disbursement per scheme shall be approved by the Government.

##### *Step 5: Fund Disbursement To Beneficiary*

• The payment shall be released to the beneficiary from the Savings Bank Account of a Nationalized or Commercial Bank maintained by the Directorate of Industries, Trade and Commerce, subject to the availability of funds.
• The funds shall be released within fifteen days of receiving the sanction order from the competent financial authority, provided the applicant submits the necessary documentation/details along with an affidavit cum self-declaration in the format appended to the respective target scheme.

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