Project Interventions / Financial Assistance

One cluster of Solar Charkha would involve a maximum subsidy of Rs. 9.599 cr.

The scheme would cover three types of Interventions, namely-

    1) Capital subsidy for individual and for Special Purpose Vehicle (SPV):
    1. 2000 Solar Charkhas at the maximum price of Rs.45,000/- per charkha and a subsidy of Rs.15,750/- per charkha works out to a cumulative subsidy of Rs.3.15 crore for 1000 spinners.
    2. One unit of two Solar Charkhas would produce 2.0 kg of yarn on an average per day, resulting in a production of 2.0 tons per 2000 charkhas. Thus, 500 Solar Looms would be required to convert the yarn into fabric at the maximum price of Rs.1,10,000/- per loom and subsidy @35% at Rs.38,500/- per loom and the cumulative subsidy works out to Rs.1.93 crore for 500 weavers.
    3. Capital cost of construction of workshed with a minimum space of 20,000 sq.ft with 100% subsidy at the maximum rate upto Rs.1.20 crore per cluster for the SPV.
    4. Capital cost of Solar Grid of 50 KW capacity with 100% subsidy at the maximum rate upto Rs.0.40 crore per cluster for the SPV.
    5. One-time Capital Cost Subsidy for the SPV @35% works out to maximum of Rs.0.75 crore per Cluster for the purchase of twisting machines, dying machines and stitching machines (500 in number) for making the unit self-sustainable and for value addition.
    2) Interest subvention for Working Capital:
    1. It is proposed to have a ceiling of 8% of interest subvention on working capital irrespective of the interest rates being charged by the Banks/Financial Institutions for a period of six months. Recurring Working Capital cost for a period of six months at the rate of interest subvention of 8% works out to Rs.1.584 crore for one cluster including cost of roving, wages of spinners and weavers .
    3) Capacity building:
    1. The scheme envisages courses for the spinners/weavers and others involved in the garmenting unit at a total cost of Rs 0.595 cr per cluster for a period of two years.
DESIGNED & MAINTAINED BY DIRECTORATE OF INFORMATION TECHNOLOGY, KVIC, MUMBAI