Full Details about the Coir Udyami Yojana (CUY)
‘Coir Udyami Yojana'(CUY) is launched by the Central Government of India to increase entrepreneurship in the nation. The government, under this scheme, provides loans on easy terms to start a business and also provides subsidies along with the loan. The subsidy is 40 percent approx. and loan at up to 55 percent at low-interest rates.
What Is Coir Udyami Yojana?
According to CUY, the government provides some additional facilities besides subsidies and loans. Coir Board works under Ministry of Micro, Small and Medium Enterprises (MSME). The products made by Coir are endorsed by the board. The Coir Udyami Yojana (CUY) has been started by the board in which credit linked subsidies are given to the projects which hold the minimum value of 10 lac.
If anyone wants to start his business, then he can apply for this scheme after having only 5%. The bank will provide 55 percent loan for 7 years, while 40 percent subsidy is given by the Coir board.
What are the services under the CUY?
The government provides certain services:
- The board gives marketing support help.
- All the entrepreneurs who are doing Coir business are cumulated into a cluster by adding them together and they are also provided marketing support.
- Not only that, if someone goes to the demonstration or fairs for the marketing of his product, all the expenditure is taken by the board.
- Board also helps in hiring the showroom.
- The salaries of the workers working in the cluster are given by the board.
Following Products Can Be Made:
- Floor Mates
- Door Mates
- Floor Tiles
- Foam Mattress
- Coir fiber such as rope, cooler grass etc.
Eligibility Criteria for Coir Udyami Yojana (CUY)
The following can apply for this scheme:
- Any individual
- Company self-help groups
- Co-operative Society
- Joint Group
- Charitable Trust
How to Apply For CUY
One can apply for this scheme at:
- CUY Board Office,
- District Industry Centre,
- CUY Project Office,
- The Agencies approved by Board.
Visit the official website: Click Here