Small and medium-sized enterprises (SMEs) are the backbone of India’s economy, providing employment opportunities and driving economic growth. The government of Haryana recognizes the importance of SMEs and has launched several loan schemes to support MSMEs. These schemes aim to provide financial assistance to entrepreneurs who want to start their own businesses or expand their existing ones. In this blog post, we will discuss the loan schemes available for MSMEs in Haryana.
- Haryana Swarn Jayanti Udyami Yojana
The Haryana Swarn Jayanti Udyami Yojana (HSJUY) is a loan scheme launched by the Haryana government to promote entrepreneurship among SC/ST and women entrepreneurs. Under this scheme, financial assistance of up to Rs. 1 crore is provided to eligible applicants. The loan is repayable in 7 years, including a 2-year moratorium period. The interest rate for this loan is 4% per annum.
| Scheme name | Gender | Qualification | Age group | Social category | Industry profile | Rural/Urban | State govt/Central Govt |
|---|---|---|---|---|---|---|---|
| HSJUY | SC/ST and women | 10th pass or above | 21-50 years | SC/ST and women | Manufacturing, service, and agriculture | Both | State govt |
- Mukhya Mantri Vyapari Samuhik Niji Durghatna Beema Yojana
The Mukhya Mantri Vyapari Samuhik Niji Durghatna Beema Yojana (MMVSNDBY) is an insurance scheme launched by the Haryana government for MSMEs. The scheme provides insurance cover to MSMEs in case of accidents, disability, or death of the owner. The premium for this scheme is subsidized by the government, and the sum assured varies depending on the premium paid.
| Scheme name | Gender | Qualification | Age group | Social category | Industry profile | Rural/Urban | State govt/Central Govt |
|---|---|---|---|---|---|---|---|
| MMVSNDBY | Not applicable | Not applicable | Not applicable | Not applicable | MSMEs | Both | State govt |
- The Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) Loan: Scheme is a loan scheme launched by the Haryana government to provide financial assistance to MSMEs. Under this scheme, loans of up to Rs. 50 lakhs are provided to eligible applicants. The loan is repayable in 7 years, including a 2-year moratorium period. The interest rate for this loan is 10% per annum.
| Scheme name | Gender | Qualification | Age group | Social category | Industry profile | Rural/Urban | State govt/Central Govt |
|---|---|---|---|---|---|---|---|
| HSIIDC Loan Scheme | Not applicable | Not applicable | Not applicable | Not applicable | Manufacturing, service, and agriculture | Both | State govt |
- Prime Minister’s Employment Generation Programme
The Prime Minister’s Employment Generation Programme (PMEGP) is a loan scheme launched by the central government to provide financial assistance to MSMEs. Under this scheme, loans of up to Rs. 25 lakhs are provided to eligible applicants. The loan is repayable in 5-7 years, including a 2-year moratorium period. The interest rate for this loan is 12% per annum.
| Scheme name | Gender | Qualification | Age group | Social category | Industry profile | Rural/Urban | State govt/Central Govt |
|---|---|---|---|---|---|---|---|
| PMEGP | Not applicable | Not applicable | 18-35 years | Not applicable | Manufacturing, service, and agriculture | Both | Central govt |
- Credit Guarantee Fund Trust for Micro and Small Enterprises
The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) is a loan scheme launched by the central government to provide collateral-free loans to MSMEs. Under this scheme, loans of up to Rs. 2 crores are provided to eligible applicants. The loan is repayable in 5-7 years, including a 1-year moratorium period. The interest rate for this loan varies depending on the lender.
| Scheme name | Gender | Qualification | Age group | Social category | Industry profile | Rural/Urban | State govt/Central Govt |
|---|---|---|---|---|---|---|---|
| CGTMSE | Not applicable | Not applicable | Not applicable | Not applicable | Manufacturing, service, and agriculture | Both | Central govt |
- Haryana Swarna Udyam Nidhi
The Haryana Swarna Udyam Nidhi is a scheme launched by the Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) to provide financial assistance to MSMEs in the state. Under this scheme, loans of up to Rs. 20 lakhs are provided to eligible MSMEs at an interest rate of 9% per annum. The repayment period for this loan is 7 years, including a 1-year moratorium period.
| Scheme name | Gender | Qualification | Age group | Social category | Industry profile | Rural/Urban | State govt/Central Govt |
|---|---|---|---|---|---|---|---|
| Haryana Swarna Udyam Nidhi | Not applicable | Not applicable | Not applicable | Not applicable | Manufacturing, service, and agriculture | Both | State govt |
- Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) Loans
HSIIDC also provides loans to MSMEs in Haryana for the purpose of setting up new units, expansion, modernization, diversification, and rehabilitation of existing units. The loan amount provided by HSIIDC depends on the requirement of the project, with a maximum limit of Rs. 20 crores. The interest rate for this loan varies depending on the lender.
| Scheme name | Gender | Qualification | Age group | Social category | Industry profile | Rural/Urban | State govt/Central Govt |
|---|---|---|---|---|---|---|---|
| HSIIDC Loans | Not applicable | Not applicable | Not applicable | Not applicable | Manufacturing, service, and agriculture | Both | State govt |
- Chief Minister’s Good Governance Associates (CMGGAs) Scheme
The Chief Minister’s Good Governance Associates (CMGGAs) Scheme is a scheme launched by the Haryana government to promote good governance and development in the state. Under this scheme, young professionals are hired as CMGGAs and are placed in different departments of the government. They work closely with the government officials to identify gaps in the implementation of various schemes and suggest ways to improve them.
| Scheme name | Gender | Qualification | Age group | Social category | Industry profile | Rural/Urban | State govt/Central Govt |
|---|---|---|---|---|---|---|---|
| CMGGAs Scheme | Both | Graduate or Postgraduate | 21-42 years | Not applicable | Not applicable | Both | State govt |
These loan schemes and schemes for professionals are available to MSMEs and young professionals in Haryana, providing them with the necessary financial assistance and employment opportunities to help grow their businesses and the state’s economy.
In conclusion, MSMEs in Haryana have access to a variety of loan schemes that provide financial assistance to start or expand their businesses. These loan schemes offer flexible repayment terms and low-interest rates, making them an attractive option for entrepreneurs. MSMEs should take advantage of these schemes to grow their businesses and contribute to the growth of the Haryana economy.