The West Bengal Incentive Scheme: Interest Subsidy on Term Loan
in West Bengal
Last updated:
Key dates and updates (West Bengal)
Nationwide and West Bengal-specific milestones. Verify on the official portal before you apply.
| Milestone | Date |
|---|---|
| Scheme launch |
The West Bengal Incentive Scheme: Interest Subsidy on Term Loan in West Bengal
The West Bengal Incentive Scheme: Interest Subsidy on Term Loan is a government scheme available to eligible residents of West Bengal.
Apply for The West Bengal Incentive Scheme: Interest Subsidy on Term Loan in West Bengal
Scheme Overview
“Interest Subsidy on Term Loan” incentives under “The West Bengal Incentive Scheme” scheme by the Dept. of Tourism, Government of West Bengal, aims to provide Interest Subsidy on annual interest liability on the Term Loan borrowed from a Bank to an approved project of an eligible unit.
Eligibility Criteria
- The Scheme shall be generally applicable to all eligible tourism projects/units and also to expansion projects of existing units set up on or after the effective date (i.e. 22nd February, 2021) of this incentive scheme.
Or,
- Eligible Hotel Units who started their commercial operation on or after 7th January, 2015 to 31st December, 2020 but could not apply under previous scheme 2015 due to absence of a Bar in the Hotel.
- The units may be in the private sector, co-operative sector, joint sector as also companies/ undertakings owned or managed by the State Government.
- The project should be covered by a detailed feasibility report/project prepared for the purpose.
- The project should have been approved and sanctioned by a Central Financial Institution or Commercial Banks or State Financial Institutions.
- The unit should hold an Registration Certificate, Date of Commencement Certificate and Eligibility Certificate issued by the West Bengal Tourism Development Corporation Limited on satisfaction of arrangement.
Benefits
Group-'A’ and ‘B' areas: 50%, subject to a limit of ₹ 25,00,000/- per year, for 5 years.
Group-'C' and 'D' areas: 60%, subject to a limit of ₹ 25,00,000/- per year, for 7 years.
Special Areas: 75% , subject to a limit of ₹ 30,00,000/- per year, for 7 years.
Note: The interest subsidy will be payable annually subject to submission of statement or certificate by the lending bank/financial institution to prove that the unit has paid the due interest to the institution on the due dates. The subsidy shall, however, not be paid in respect of term loans availed for second-hand plant and machinery or hire-purchase equipment.
Required Documents
| # | Document |
|---|---|
| 1 | A copy of the Memorandum and Articles of Association issued by the Registrar of Companies/ Partnership agreement. |
| 2 | A Statement of names and addresses of the Director/ Partners/Owners of the company. |
| 3 | Project Report. |
| 4 | Valid No objection Certificate from pollution control Board. |
| 5 | Valid No objection Certificate from West Bengal Fire Service. |
| 6 | In case of loan, Photocopy of Sanction letter from the Central Financial Institution/State Financial institution/ Bank. |
| 7 | Copy of the Audited Balance sheet for the last 3 years with Income Tax acknowledgement. |
| 8 | Estimate for Building and Plant & Machinery vetted by Govt. Registered Valluer / Chattered Valluer. |
| 9 | Land Deed and all other Documents supporting statements made in the Form (Mutation/ROR, Conversion Certificate, site plan,clearance from M.A. Deptt. etc. |
| 10 | All applicable clearance from Govt. authorities (Forest, CRZ, Police, etc.) |
| 11 | Sarai Registration Certificate under Bengal Sarai Regulation Act (in case Hotel started their Commercial operation) |
| 12 | Valid Trade License from appropriate authority. |
| 13 | GST Certificate and GST return. |
| 14 | Sanctioned Building Plan from appropriate authority (KMC/ Municipality/ Panchayat/or any other appropriate authority). |
| 15 | A Certificate from a Bank/Financial Institution is to be furnished in the format as per Annexure-A (format is available for download in attachment section). |
Common questions in West Bengal
Who can apply for The West Bengal Incentive Scheme: Interest Subsidy on Term Loan in West Bengal?
Eligible residents of West Bengal who meet the scheme’s overall criteria can apply for The West Bengal Incentive Scheme: Interest Subsidy on Term Loan. Refer to the eligibility section above for the complete checklist.
What documents are required for The West Bengal Incentive Scheme: Interest Subsidy on Term Loan in West Bengal?
Applicants in West Bengal typically need identity proof (Aadhaar), state residency proof, bank account details, and any scheme-specific documents listed in the documents section.
What are the important dates for The West Bengal Incentive Scheme: Interest Subsidy on Term Loan?
Key dates are summarized in the table on this page, from 22 February 2021 through 22 February 2021, based on values DeshSeva currently stores for this item.
Frequently Asked Questions
"Special Area" includes the districts of Paschim Medinipur, Bankura, Purulia, Jhargram & Blocks under Sunderbans area in both North 24 Parganas & South 24 Parganas Districts.