The Annal Ambedkar Business Champion Scheme would be introduced in 2024, according to the Tamil Nadu government. Through this program, the state government of Tamilnadu would support the economic growth of members of the scheduled caste and scheduled tribe categories. The Tamil Nadu Budget Speech for 2024–2024 made the announcement of the Annal Ambedkar Business Champions Scheme. Kranthi Kumar Pati, the district collector for Coimbatore, welcomed anyone interested to apply for the program at www.msmeonline.tn.gov.in or get more information by calling the general manager of the district industries center at 0422-2391678 or 2397311.
Annal Ambedkar Business Champion Scheme 2024
Tamil Nadu’s 2024–24 budgets were submitted to the state legislature on March 20, 2024, by the finance minister. A new program named the Annal Ambedkar Business Champions Scheme” would be introduced in the forthcoming fiscal year to support the economic development of SC/ST entrepreneurs, FM said while delivering the Tamilnadu budget speech for 2024–2024. The new program will give a capital subsidy of 35% and an interest subsidy of 6% for loans used to buy machinery and equipment. The Budget Estimates for 2024–2024 provide 100 crore as funding for this program.
Tamil Nadu Urban Employment Scheme
Details of Annal Ambedkar Business Champion Scheme
| Scheme Name | Annal Ambedkar Business Champion Scheme |
| Introduced by | Finance Minister of Tamilnadu State, while presenting TN Budget 2024-25 |
| State | Tamil Nadu |
| Objective | To encourage the economic growth of SC/ST business owners by providing capital subsidies and interest rate concessions for loans to buy machinery and equipment |
| Capital Subsidy | 35 Percent |
| Interest Subvention | 6 Percent |
| Budgetary Allocation | Rupees 100 crore |
Annal Ambedkar Business Champion Scheme Objective
The Annal Ambedkar Business Champion Scheme’s main objective is to support the growth of the SC and ST communities’ economies by encouraging entrepreneurs from those groups. For the financial year 2024–2024, the State government has set aside Rs. 100 crores to implement the Annal Ambedkar Business Champion Scheme, which will support entrepreneurs from SC and ST groups.
Features and Benefits of Annal Ambedkar Business Champion Scheme
Some of the key Features and Benefits of Annal Ambedkar Business Champion Scheme are as follows:
- According to a government directive dated May 12, 2024, the MSME Department would administer the program
- It will provide each beneficiary with a 35% capital subsidy up to 1.5 crore rupees and a 6% interest subsidy in order to start a new manufacturing, service, or trade operation or expand an existing one.
- The project’s approved working capital will be eligible for interest subvention for a maximum of two years.
- Although there is no set educational requirement, applicants must be under 55 years of age.
- The capital subsidy will be available for the full project cost, including investments in land (up to 20% of the total project cost), equipment, and machinery, in accordance with the government’s requirements.
- A retired banker will be chosen to serve as the credit mentor”for each district and a State-level steering committee will be established to oversee the program’s operation on a quarterly basis.
- The Entrepreneurship Development and Innovation Institute will provide the chosen recipients with training.
Steps to Register on the Portal
To register on the Micro, Small and Medium Enterprises Department portal (MSME), the user needs to follow the below given steps:
- First of all, go to the official websiteof the Micro, Small and Medium Enterprises Department (MSME) i.e., https://www.msmeonline.tn.gov.in/
- The homepage of the website will open on the screen
- Click on the Login/Registration tab
- A new page will open on the screen
- Click on the Register link
- The registration form will open on the screen
- Now, fill in the form with all the required details like:
- Name
- Date of Birth
- Aadhaar Number
- Mobile Number
- Email Id
- After that, create a password
- Now, enter the captcha code
- Finally, click on the Register button to complete the registration process
Steps to Login on the Portal
To login on the Micro, Small and Medium Enterprises Department portal (MSME), the user needs to follow the below given steps:
- First of all, go to the official website of the Micro, Small and Medium Enterprises Department (MSME) i.e., https://www.msmeonline.tn.gov.in/
- The homepage of the website will open on the screen
- Click on the Login/Registration tab
- A new page will open on the screen
- Now, enter the email id or the mobile number and the password
- After that, enter the captcha code
- Finally, click on the login button to get logged in to your registered account.
Steps for Department Login on the Portal
To login into the Micro, Small, and Medium Enterprises Department portal (MSME), the user needs to follow the below-given steps:
- First of all, go to the official website of the Micro, Small and Medium Enterprises Department (MSME) i.e., https://www.msmeonline.tn.gov.in/
- The homepage of the website will open on the screen
- Click on the Dept Login tab
- A new page will open on the screen
- Now, enter the user name and the password
- After that, enter the captcha code
- Finally, click on the login button to get logged in to your registered account.