Agartala, April 27 (IANS) Tripura is offering sops, including increase of capital investment subsidy from 30 percent to 35 percent, to promote industries based on raw material available in the state.
"We are unable to give government jobs to all youths. Hence, to promote entrepreneurships to set up medium, small and micro industrial units, the existing incentives were broadened," Tripura Chief Minister Manik Sarkar told reporters here on Tuesday night.
He said: "The capital investment subsidy would be raised from the existing 30 percent to 35 percent with maximum aid of Rs.60 lakh. The proposed industries must be based on local natural resources like gas, bamboo, rubber, agricultural and horticultural products."
Sarkar said the state government would reimburse the contributions of industrial units towards Employees State Insurance (ESI) and Employees Provident Fund (EPF) for five years.
Under the state's Swavalamban self-employment programme, the government would provide subsidy of Rs.75,000 instead of Rs.65,000 keeping the rate of subsidy at 30 percent for men and 35 percent for women.
Since 2001, 12,677 beneficiaries have received Rs.206 crore under the scheme.
Sarkar said under the Tripura State Support Project on Self-Help Groups (TSSPS), the interest rate of startup loans has also reduced from 4 percent to 3.5 percent.
The chief minister said under the TSSPS, 8,327 self-help groups (SHGs) comprising around 85,000 families have been given startup loans of Rs.100,000 each.
Tripura currently has over 700,000 educated unemployed youths.