Credit Linked Capital Subsidy Scheme
The Credit Linked Capital Subsidy Scheme (CLCSS) is implemented by the government to motivate technology upgrades of small, micro & medium enterprises. The main objective of this scheme is to benefit technology upgradation in MSE by offering 15% upfront capital subsidy for induction of improved and well-established technology in approved 51 subsectors/products. This scheme has been implemented to provide a better facility and upgrade for technological upgradation. With this specific scheme, the people are facilitated with 12% capital subsidy and thus small-scale industry owners will be getting enhanced support to have easy access to improved technologies.
Objectives Of This Scheme
The objectives which are linked with CLCS are listed below:
- Through this scheme, the ministry of the small-scale industry is planning to set-up a good financial condition for the people who are engaged in small-scale industrial activities.
- This scheme assists the government to hold the equal distribution of salary among the people by establishing a strong economic background for the country.
- It also aids the industries to have a massive supply of products so that the market condition stays in the balanced form
- Implementation of this scheme is quite helpful for small-scale industries to change their capacity and size to the large-scale and medium-scale industry.
- It also aids the small-scale industries to have good development & people who are involved in such industries seems to have better income through the support offered by the government.
- Industries which graduate from small-scale to medium-scale with respect to additional loan sanction under CLCS will be applicable for assistance
- Export-oriented new sectors/Labor-intensive activities will be included in this scheme
- Machines brought under ‘Hire Purchase Scheme’ of NSIC is also found applicable for subsidy in this scheme
- The machinery or plans which are brought under the scheme is liable to get 15% support with aid of government and if any loans are approved by small-scale enterprises then it must be on/before 29th September 2005.
- The agencies will not be trusted always and all industries will not be related to this scheme. As a result, it will never create a problem in future. Therefore, the individual has to enclose any of the documents which indicate loans with regards to refinancing through Nodal Agencies.
Who Are Eligible To Get Assistance under CLCS
Some of the host institutions which have been facilitated by incubation support are:
- Indian Institute of Technology(IITs)
- Engineering Colleges
- National Institute of Technology (IITs)
- Technology Development Centers & Tool Rooms
- Other reputed R&Ds/Technical Centers/Institutes, Development Institute of DIP & P in the niche of Machine Tools, Rubber, Paper Etc.
Benefits Of The Scheme
With this new scheme launched, people can obtain numerous advantages. This scheme was considered as a great revolution for the nation. Some of the added benefits are:
- By introduction of this scheme, numerous non-productive organizations are facilitated and improved
- Government announce that technology upgradation offers 15% subsidy on new machinery and plants
- Unemployment problems can be solved by this scheme
- The bio-tech industry will be facilitated by this subsidy
- In addition to these, numerous small-scale and reputed industries boost their production equipment.