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SFAILFIS

Scheme for Financial Assistance to Integrated Logistics Facilities: Interest Subsidy

The "Scheme for Financial Assistance to Integrated Logistics Facilities" under the Gujarat Integrated Logistics and Logistics Park Policy, provides financial support to private developers for creating logistics facilities and parks with the necessary infrastructure and services.

State Cash

States / UT: Gujarat

Nodal department: Industries and Mines Department

Scheme for: Infra

Scheme profile

DBT (direct benefit transfer): No

Scheme open date: 2021-08-02

Categories: Business & Entrepreneurship

Sub-categories: Setting up / start-up / entrepreneurship

Target beneficiaries: Business Entity, Industries

Tags: Logistics Facilities, Interest Subsidy, Business

Details

The "Scheme for Financial Assistance to Integrated Logistics Facilities" is an umbrella scheme launched by the Industries and Mines Department, Gujarat under the Gujarat Integrated Logistics and Logistics Park Policy. Effective from August 2nd, 2021 to August 1st, 2026, this initiative aims to provide financial assistance to the private developer for developing Logistics Facilities and Logistics Park with all required infrastructure and logistic services.
The component "Interest Subsidy" is designed to assist developers by reducing their interest burden on term loans. It is applicable only to new units or projects, enabling developers to improve their financial stability during the project's development phase.

Benefits

  • - Coverage of Moratorium Period: Interest repayment during the moratorium period is also eligible for subsidy. - Assistance on Actual Disbursement: The subsidy is calculated based on the actual disbursed amount of the sanctioned term loan. - Encourages Timely Repayment: Incentivizes developers to maintain regular repayment schedules to avoid being declared defaulters
  • Coverage of Moratorium Period: Interest repayment during the moratorium period is also eligible for subsidy. - Assistance on Actual Disbursement: The subsidy is calculated based on the actual disbursed amount of the sanctioned term loan. - Encourages Timely Repayment: Incentivizes developers to maintain regular repayment schedules to avoid being declared defaulters.

Eligibility

  • The subsidy is applicable only to new units/projects.
  • The term loan’s first disbursement date must fall within the scheme’s operative period.
  • Developers must not be declared defaulters as per RBI guidelines.
  • Repayment against the principal must be timely.

Exclusions

  • Periods with default in principal repayment (90 days or more) are not eligible, even if interest is repaid during this time.

Application Process

Online

Registration Process:

Step-1: Visit the Investor Facilitation Portal (IFP) portal. Click on "New Investor Registration" to access the registration form.
Step-2: Fill in the Registration Form. Click on "Submit".
Step-3: Verify the E-mail ID using the link sent on your registered E-mail ID.
Step-4: After verification, you will be registered successfully.

Post-Registration Process:

Step-1: Visit the Investor Facilitation Portal (IFP) portal. Click on "Login".
Step-2: Enter the email address and password you used during registration.
Step-3: Click the "Login" button to access your account.
Step-4: Now fill in the required details and mandatory documents about your business to complete the application process.

Helpdesk: Contact Here.


Offline

Registration Procedure:

Step-1: Submit the application in the prescribed form along with the required documents to the Industries Commissionerate.
Step-2: The Industries Commissionerate will review and request missing details, if any, within 15 days.
Step-3: The application will then be forwarded to the GM of the District Industries Centre (DIC) for a site visit and inspection report.
Step-4: Based on the report, the Industries Commissionerate may issue a Registration Certificate.

Sanction Procedure:

Step-1: After registration and approval of the project layout plan, submit the application in the prescribed format for sanction with a detailed project report and required documents to the Industries Commissionerate.
Step-2: The Industries Commissionerate will scrutinize and request missing details within 15 days.
Step-3: Applicants must present their project to a Screening Committee chaired by the Industries Commissioner.
Step-4: After addressing committee remarks, the application is reviewed by the Sanctioning Authority for approval based on scheme guidelines.

Clarifications

Additional points from the scheme information published on myScheme (not legal advice).

What is the objective of the "Scheme for Financial Assistance to Integrated Logistics Facilities"?
The "Scheme for Financial Assistance to Integrated Logistics Facilities" under the Gujarat Integrated Logistics and Logistics Park Policy, provides financial support to private developers for creating logistics facilities and parks with the necessary infrastructure and services.
What is the purpose of the "Interest Subsidy" component?
The "Interest Subsidy" component is designed to assist developers by reducing their interest burden on term loans. It is applicable only to new units or projects, enabling developers to improve their financial stability during the project's development phase.
Who qualifies for the "Interest Subsidy"?
Developers of new units or projects are eligible if the first disbursement of their term loan falls within the operative period of the scheme.
Can an existing project apply for the Interest Subsidy?
No, only new units or projects are eligible for the Interest Subsidy scheme.
What happens if a developer is declared a defaulter?
If a developer is declared a defaulter by a financial institution, as per RBI guidelines they are ineligible for the Interest Subsidy.
Does the scheme cover interest payments during the moratorium period?
Yes, interest payments made during the moratorium period are eligible for the subsidy.
How is the subsidy amount determined?
The subsidy amount is calculated based on the actual amount disbursed against the sanctioned term loan.
Can a developer choose the period for receiving the subsidy?
Yes, a developer can select either the period starting from the Date of First Disbursement of the Term Loan or the Date of Commencement of Operation of the project.
What happens if the principal repayment is overdue for more than 90 days?
If the principal repayment is delayed for over 90 days, that duration is not eligible for the subsidy, even if interest payments are made during that period.
Where should developers submit their claim for the subsidy?
Developers must submit their subsidy claims to the IC office along with the required documents.
Is the subsidy available for multiple term loans?
The subsidy applies only to the sanctioned term loan for the specific new unit or project.
What happens after submitting the registration application?
The Industries Commissionerate will scrutinize the application, request missing details within 15 days, and forward it to the concerned District Industries Centre for inspection.
How is the inspection carried out?
The General Manager of the District Industries Centre conducts a site visit and prepares an inspection report.
Who issues the Registration Certificate?
The Industries Commissionerate issues the Registration Certificate after reviewing the inspection report and adhering to the provisions of the GR and guidelines.

Definitions

  • Eligible Term Loan
  • Date of Commencement of Operations
  • Ineligible Expenditure

References

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Documents Required for Government Schemes

Most government schemes require basic documents for verification. While the exact requirements vary, common documents include:

  • Aadhaar Card
  • Income Certificate
  • Caste Certificate (if applicable)
  • Residence Proof
  • Bank Account Details
  • Educational Certificates (for student schemes)

How to Apply for Government Schemes?

The application process for government schemes may be online or offline depending on the scheme. In most cases, you can follow these steps:

  1. Check eligibility criteria
  2. Collect required documents
  3. Fill the application form
  4. Submit the application online or at the relevant office
  5. Track application status