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The Hindu
The Hindu
National
Sanjay Vijayakumar

Tamil Nadu government disbursed highest ever capital subsidy under NEEDS scheme in 2022-23

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The State government has disbursed highest ever capital subsidy in 2022-23 under its flagship New Entrepreneur cum Enterprise Development Scheme (NEEDS), a State-funded programme, to promote first generation entrepreneurs.

The scheme run by the State’s Micro, Small and Medium Enterprises (MSME) Department has seen subsidy disbursement of ₹163.88 crore in 2022-23, when compared to about ₹97.25 crore in 2021-22. The scheme, which has been operational since 2012-13, also saw over 1,000 sanctions for the first time ever in 2022-23.

Under NEEDS, the minimum project cost is ₹10 lakh and the maximum project cost is up to ₹5 crore. The individual-based capital subsidy under NEEDS is given at the rate of 25% of the project cost (not exceeding ₹75 lakh).

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