Tribal development is an important component to achieve the objective of inclusive development of our country.
The Indian constitution enjoins upon the Government the responsibility of addressing the special needs of the tribals. In this regard Goa is not lagging behind to ensure tribals are benefited in all possible manners.
One of the stratagems employed by Goa is to offer loan schemes exclusively to members of Tribal Community notified by Goa.
This scheme is named as Goa Tribal Employment Generation Programme (GTEGP) Scheme.
%20Scheme.png "Goa Tribal Employment Generation Programme(GTEGP) Scheme")
The applicant must be an unemployed person 18 to 45 years of age
Must be a member of tribal community notified by Goa
Educational qualification must be minimum standard IV ( relaxable in deserving cases)
The applicant must be a permanent resident of Goa domiciled for at least 15 years.
The CIBIL report of the applicant must be satisfactory
The activities for which this loan is applicable include
Micro and small manufacturing enterprises
Service enterprises
Trade enterprises ( farming activities. , tobacco products and red category industries are not included)
Other features of this loan are:
Interest rate is 2% per annum
Moratorium period is 3 to 6 months at the discretion of relevant authorities.
Repayment schedule is 60 to 120 EMIs as per discretion of the Goa Tribal Employment Generation Programme (GTEGP) – Task Force Committee. The EMIs can be paid in any branch of State Bank of India.
A 5 member GTEGP Task Force Committee constituted by the Government will scrutinize the applications.
5% minimum promoter’s margin has to be brought in.
The term loan finance will be 57% of the project cost.
The applicant is also eligible to acquire subsidized Loans for backward areas to set up the premises for the project, provided that the exposure for such premises shall not exceed 50% of the maximum eligible project cost limit under the scheme. However, in case of professionals and technically qualified professionals it can be as high as 70%.
The following documents need to be submitted by both the promoter and guarantor.
Birth Certificate
15 years residence certificate
Aadhar card
PAN card
In addition, the guarantor needs to supply the following documents
Copy of latest house tax if the loan is less than Rs 6 lakhs
Notarized copy of title of immovable property owned if the loan is more than Rs 6 lakhs.
The applicants must however bear in mind that once the GTEGP loan is sanctioned they are not eligible for second loan for expansion.
The scheme of subsidized Loans for Backward Areas is there to enhance career opportunities for tribals.
The key vehicle for operating this loan is EDC Limited, formerly known as Economic Development Corporation of Goa, Daman and Diu. During its last 47 years of existence this institution has been in the forefront in the economic development in Goa.
The corporation has made its mark as a professionally managed organization by acting as an excellent delivery channel for conversion of Government schemes and delivering them to the citizens of Goa.
EDC Limited has announced several loan schemes that has the potential to benefit various sections of the Goan citizens. It is no wonder this premier institution is considered an effective catalyst for the economic and industrial development of Goa.
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