Annal Ambedkar Business Champion Scheme 2024 : Eligibility & Registration Procedure

Annal Ambedkar Business Champion Scheme – The Tamil Nadu government launched the Ambedkar Business Champion Scheme to encourage economic growth of the state’s Scheduled Caste and Scheduled Tribe residents. Through this scheme, the government would promote the economic growth of the state’s Scheduled Tribes and Scheduled Castes. In this post you get every required details regarding this scheme including its benefits, objective, eligibility criteria, necessary documents and registration procedure.

Annal Ambedkar Business Champion Scheme 2024

The Ambedkar Business Champion Scheme will be introduced in the state of Tamil Nadu on 20 March the day the state finance minister presents the state’s 2024-25 budget to the state parliament. Through this scheme, the state’s SC/ST businesses would get help for their economic growth in addition to a 35% capital subsidy and a 6% interest subsidy on loans used to buy machinery and equipment TN Annal Ambedkar will be supplied via the Business Champion Program. The state government has allocated Rs 100 crore for this programme in the 2024-2025 budget.

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Overview of Annal Ambedkar Business Champion Scheme 2024

SchemeAnnal Ambedkar Business Champion Scheme 2024
Launched ByState Government of Tamil nadu
BeneficiarySC/ST Businessman
ObjectiveTo provide a 6% interest rate on loans and a 35% capital subsidy
Budgetary AllocationRs.100 Crores
Official Websitehttps://www.msmeonline.tn.gov.in/

Objective of Annal Ambedkar Business Champion Scheme 2024

The main objective of the scheme is to promote the economic growth of the state’s scheduled caste and scheduled tribe. The state government allocated over Rs 100 crore toward the budget when it announced the financial plan for 2024-2025. Businesses belonging to SC and ST groups would receive easy support through this budget under the scheme.

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Benefits of Annal Ambedkar Business Champion Scheme 2024

Some of the benefits of this scheme is given below:

  • The MSME Department would oversee the scheme, according to a 12 May 2023 government order.
  • To establish a new manufacturing, service, or commerce activity or to expand an already existing one, it will offer each recipient a 35% capital subsidy up to 1.5 crore rupees and a 6% interest subsidy.
  • For a maximum of two years, interest subvention on the project’s authorized operating capital will be available.
  • Applicants must be under 55 years old however there is no minimum educational requirement.
  • The capital subsidy will cover the whole project cost, including, subject to government regulations, expenditures in machinery, equipment and land up to 20% of the overall project cost.

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Eligibility Criteria

Some of the eligibility criteria of this scheme is given below:

  • The applicant must live in Tamil Nadu.
  • The applicant has to be under the age of 55 years old.

Required Documents

Some of the required documents of this scheme is given below:

  • Aadhaar Card
  • Date of Birth
  • Email ID
  • Mobile Number

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Registration Procedure of Annal Ambedkar Business Champion Scheme 2024

Annal Ambedkar Business Champion Scheme
  • The homepage will appear on your screen.
  • Click on the Registration/Login option.
  • A new page will appear on your screen.
  • Click on the register link.
  • The registration form will appear on your screen.
  • Enter all the required details in the form such as:
    • Name
    • Aadhaar Card
    • Date of Birth
    • Email ID
    • Mobile Number
  • Create a password.
  • Enter the captcha code.
  • Click on the Register button.

Login Procedure

  • First you have to visit the Official Website of the MSME.
  • The homepage will appear on your screen.
  • Click on the Registration/Login option.
  • A new page will appear on your screen.
  • Enter the Email ID or Mobile number and password.
  • Enter the captcha code.
  • Click on the login button.

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Department Login Procedure

  • First you have to visit the Official Website of the MSME.
  • The homepage will appear on your screen.
  • Click on the Dept Login option.
  • A new page will appear on your screen.
  • Enter the username and password.
  • Enter the captcha code.
  • Click on the login button.
FAQ’s
What is the purpose of the Annal Ambedkar Business Champion Scheme 2024?

The Tamil Nadu government launched the Annal Ambedkar Business Champion Scheme 2024 to give those who are establishing their enterprises in the state but lack resources the right opportunities.

What is the minimum age to apply for this scheme?

The people’s maximum age will be 55 years old.

What are the benefits of the  Annal Ambedkar Business Champion Scheme 2024?

There are other benefits that will be given to the public including a 35% capital subsidy and a 6% interest subsidy on loans for those purchasing machinery and equipment to launch their businesses.

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