Tripura Tourism Interest subvention Scheme 2019

Jul 09, 2019 | by Avantis RegTech Legal Research Team

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Commercial Compliance

The Governor of Tripura on June 14, 2019 has given approval to the Tripura Tourism Interest subvention Scheme 2019 namely “Paryatan Sahayak Prakalp” to promote entrepreneurship in the Tourism sector for tourism enterprises to be set up in the State of Tripura on or after July 01, 2019.

Ø  Objective of the Scheme:

The objective of the scheme is to promote entrepreneurship in tourism sector by providing interest subsidy to eligible persons to enable them to take up activities in tourism sector. Through this scheme, it is intended to facilitate the access of loans to tourism related projects and upon successful repayments, as an incentive, the interest component will be borne by the State Government.

Ø  Eligibility Criteria:

a)      Individuals above 18 years of age upto the age of 50 years will be eligible for this scheme.

b)      Preference will be given to unemployed youths and to those who have completed graduation or diploma in Hotel Management or Travel and Tourism  or undergone any skill development in Tourism related skills  under  the  Prime  Minister  Kushal Vikash Yojana (PMKVY) or any others schemes will also get preference during the course of selection

c)       Only one person from a family will be eligible for this scheme.

d)      Only if the borrower pays regular EMI, then the interest component will be repaid by the Government. If he/she defaults the payment for three consecutive months, as verified by the banker, then he/she will automatically cease to be the beneficiaries of the scheme.

e)      The borrower shall not be entitled to receive subvention facility in case of becoming a loan defaulter and unable to repay the loan within loan repayment schedule fixed by the bank.

The Scheme will come into effect from July 01, 2019 and remain in force for a period of 3 years and it will be ending on June 30, 2021.

[Notification No. F.3 (85)- Tourism/Accts/2019/13285-92]


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