Annal Ambedkar Business Champions Scheme (AABCS)
AABCS supports SC/ST entrepreneurs setup and expand their businesses.
Objective
AABCS aims to foster economic advancement among historically marginalized SC/ST communities. A substantial allocation of Rs. 100 crore in the Budget Estimates 2023-24 ensures adequate support for scheme implementation.
Key Benefits
- Eligible beneficiaries will receive a 35% capital subsidy on project cost (not exceeding 1.5 crore), facilitating easier procurement of machinery and equipment.
- The scheme offers a 6% interest subvention on loans, reducing the financial burden on entrepreneurs.
- Project cost can include land, plant, machinery, testing equipment and computer equipment with the land cost not exceeding 20% of the project cost.
- Vehicle procurement can be considered as a part of the project cost, if it integral for business functioning.
- A substantial sum of Rs. 100 crore has been allocated in the Budget Estimates 2023-24, ensuring adequate support for scheme implementation.
Snapshots
1.5 crore
Subsidy Cap
6%
Interest Subvention
55 years
Applicant Max Age
Eligibility Criteria
- The scheme is specifically designed to benefit entrepreneurs from Scheduled Castes (SC) and Scheduled Tribes (ST) communities.
- No minimum educational qualification prescribed to avail benefits under this scheme.
- Beneficiaries must be under 55 years of age.
Other Schemes
