1. The assistance will be provided only in respect of technical civil works and eligible plant & machinery.
2. The SC or ST promoter(s), as the case may be, holding 100% stake in the implementing agency/ firm, will be treated as ST/ SC proposals and will be treated at par with NE States for the purpose of extending benefits under the scheme.
3. The net worth of the applicant should be at least 1.5 times of the assistance applied for
4. This subsidy will be released in 3 installments of 25%, 40% & 35% as per following schedule
(i) 1st installment of 25% is released after ensuring that 25% of the promoter’s contribution and 25% of the term loan has been spent on the project;
(ii) 2nd installment of 40% is released after ensuring that utilization of first assistance, 65% of the promoter’s contribution and 65% of the term loan has been spent on the project;
(iii) 3rd installment of 35% is released after ensuring that utilization of Second assistance, 65% of the promoter’s contribution and 65% of the term loan has been spent on the project;
5. The project would be implemented in 20 months in general areas and 24 months in North East States, Himalayan States, ITDP Areas and Islands from the date of issue of the approval letter for the financial assistance. No extension of time for implementation of the project will be given.
6. In case of failure to operate the project for at least three years after commencement of commercial operation, the promoter shall return the entire assistance with interest @ 10% per annum.