Gujarat Government announced its new cottage and village industries policy on Wednesday. Under the new policy, more loans and subsidies have been offered to artisans and entrepreneurs to set up units in the state. Cottage Industries Minister Balwant Singh Rajput, while unveiling the policy in Gandhinagar, said it will create about 12 lakh new employment opportunities in five years. The new policy has been introduced after the five-year validity of the previous scheme ended, the official statement said.
Loan amount increased from Rs 8 lakh to Rs 25 lakh
The minister said, “The new cottage policy-2024 will be applicable for five years. “It aims to develop a self-reliant cottage industry sector and open doors to local and international markets for artisans.” Rajput said that under the policy, the state will work towards providing credit and market support to artisans and will focus on infrastructure, skills, technology upgradation and innovation. The statement said that in order to encourage new industries and businesses, the state government has increased the maximum loan amount under this scheme from the current Rs 8 lakh to Rs 25 lakh.
Subsidy increased to Rs 3.75 lakh
The subsidy under the scheme has been increased from Rs 1.25 lakh to Rs 3.75 lakh. Under the 'Dattopant Thengadi Artisan Interest Subsidy Scheme', the maximum loan amount for handloom and handicraft artisans has been increased from Rs 1 lakh to Rs 3 lakh. The statement said that in the next five years, about 60,000 micro entrepreneurs will be trained to enhance their skills. According to the statement, artisans associated with various boards and corporations of the Gujarat government now sell handicrafts and handloom products worth Rs 460 crore. With the help of this policy, the state government has set a target of taking it to Rs 1,500 crore in the next five years. It said that under the 'One District, One Product' scheme, the state has targeted to cover 10,000 beneficiaries.
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