Coir Udyami Yojana:- Numerous programs have been launched by the Indian government to address the nation’s unemployment issue and encourage self-employment. Another one of these programs is the Coir Udyami Yojana (CUY). This scheme was developed to foster expansion in the jute-related business or industry. By mechanizing and modernizing the industrial processes utilized in the coir industry, the Central Government hopes to increase production under this program. Read below to get details information related to the Coir Udyami Yojana like Highlights, purpose, Benefits and Features, Eligibility Requirements, Documents Required, Application Process, and much more.
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About Coir Udyami Yojana
The Coir Udyami Yojana (CUY) is a credit-linked subsidy program that aids business owners in establishing coir production facilities for up to Rs. 10 lakh in project costs and one cycle of working capital that cannot exceed 25% of the project cost. Subject to the owner of the unit making a minor initial investment, the program combines loans and subsidies. The project is eligible for a 40% subsidy. This program is available to aspiring entrepreneurs who want to create a coir manufacturing facility. They may apply to any state coir board or a coir board-designated institution. Applicants can also visit the official website http://coirservices.gov.in/frm login.aspx to apply for loans and subsidies under this yojana.
CUY Scheme Details in Highlights
|Name of the Scheme||Coir Udyami Yojana (CUY)|
|Introduced By||Central Government|
|Objective||to encourage the jute industry’s development|
|Benefits||A subsidy of 40% of the project’s cost is offered.|
|Category||Central Government Scheme|
Objectives of Coir Udyami Yojana
The main objectives of Coir Udyami Yojana are as follows:
- Using current technologies to produce and process coir and coir products will modernize the coir industry.
- It tries to boost business unit productivity and efficiency to increase the profits of sector employees.
- The plan seeks to modernize existing production and processing techniques to increase output, quality, and product variety.
- The objective is to create jobs in the rural parts of the States and Union Territories that produce coconuts.
- The program will work to increase women’s employment options in rural areas for gender empowerment.
- It aims to boost the production of coir fiber and coir products and improve the utilization of coconut husk.
- To adequately train rural youth in states that produce coconuts to entice them to work in the coir industry.
- The program seeks to improve the socioeconomic circumstances of the industry’s workers and producers.
- To act as a link between the unit holders and those receiving help under the Scheme.
- The goal is to support the inclusive growth of the most vulnerable beneficiaries, particularly those from the North Eastern Region, Scheduled Castes (SC), and Scheduled Tribes (ST) (NER)
Jute Businesses Covered by Coir Udyami Yojana
The Central Government has included a few unique jute-related industries in this program. The following are these industries:-
- Floor mat means floor mat, carpet or sackcloth, etc.
- Jute brush
- Seat mattress
- Foam mattress support
- Large business of other small works, such as the business of making twine, rope, etc
Features and Benefits of the Coir Udyami Yojana (CUY)
The following are the advantages and features of the Coir Udyami Yojana launched by the Central Government:-
- This program was initiated by the Indian government to establish micro and small-scale coir production facilities around the nation.
- The beneficiary applicant will be required to pay only 5% of the project cost and will be eligible for a government subsidy of 40% of the project cost at the start of the project.
- The maximum cost of a coir project should only be up to Rs 10 lakh under the Central Government’s Coir Udyami Yojana 2023, and the cost of working capital will not be included in the project cost.
- Under this plan, the project cost plus one cycle of working capital cannot be greater than 25% of the project cost.
- The Central Government offers the applicant a loan with favorable terms for the remaining 55% of the project’s cost.
Eligibility Criteria for Coir Udyami Yojana
For this scheme, any coir project with a project cost of up to Rs. 10 lakhs and working capital that does not exceed 25% of the total cost is eligible. Additionally, the following requirements must be met:
- Only projects that fall under the coir industry, or those that produce coir fiber products, are eligible for this program.
- The applicant must be an Indian national
- The applicant must be at least 18 years old.
- Under this program, there is no upper-income limit for starting a project.
- This program is open to individuals, businesses, non-profit organizations, institutions, production cooperative societies, joint liability groups, and charitable trusts that are registered under the Societies Registration Act of 1860.
Required Documents for Coir Udyami Yojana
Some of the required documents for Coir Udyami Yojana are as follows:
- A certified copy of the organization’s bylaws must be included with the application if the recipient is a non-individual applicant.
- The applicant must provide a thorough report of the working capital cycle and requirements to be approved for a working capital loan from the bank without subsidy.
- It will be necessary for the applicant to submit the caste certificate issued by the appropriate office if they belong to a specific caste.
- The applicant will need to provide a comprehensive cost estimate for the project, taking into account building, equipment, and capital expenses.
- If the applicant is an individual, they must present their KYC documents, which include verification of identification and address.
Steps to Register for Coir Udyami Yojana
The user needs to follow the below-given steps to register for Coir Udyami Yojana:
- First of all go to the official website of Coir Board i.e., https://www.coirservices.gov.in/
- The homepage of the website will open on the screen
- Click on the Apply Now button
- A login window will open on the screen
- Click on the New Login Registration link
- The registration form will open on the screen
- Now fill in the form with all the required details like Name, Aadhar Number, Mobile Number, Email ID, Security questions, etc.
- Finally, click on the Confirm button to complete the registration process
Steps to Apply for Coir Udyami Yojana Offline
The user needs to follow the below-given steps to apply for Coir Udyami Yojana in an offline mode:
- First of all visit the Jute Board Office, Jute Project Office, District Industrial Center, Panchayati Raj Department, and Office designated by Jute Board
- Get the application form from the concerned officials
- Now fill in the form with all the required details
- Attach all the required documents with the application form
- After that submit your filled application form to the concerned official
- Your application form, your application form will be then sent to the government office for further processing after successful submission
- Finally, after proper evaluation, if the application is granted, the applicant will be notified.
In case of any query related to the Coir Udyami Yojana, feel free to contact on the below-given details:
- Phone Number: 91-484-2351807, 2351788, 2351954
- Email ID: [email protected]