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7 Crore+ Customers
Affordable Premium
Technology plays a significant role in the success of small enterprises and particularly in the manufacturing sector. Micro, small and medium enterprises (MSMEs) need to invest heavily in equipment and machinery for creating products that meet national and global standards.
As the cost of the required machinery amounts to a substantial value, it becomes challenging for these enterprises to generate the capital for investment. This is where the Credit Linked Capital Subsidy Scheme (CLCSS) comes into the picture.
Below is a detailed account of this scheme illustrating all vital aspects that include tracking the status of CLCSS.
To upgrade the technology of SSIs or Small Scale Industries, the Ministry of Small Scale Industries operates a scheme known as Credit Linked Capital Subsidy Scheme (CLCSS). The Government of India launched it on 1st October 2000.
Several Indian small-scale industries still work by using outdated technology, and they cannot upgrade their machinery because of the non-availability of funds. This scheme aims to facilitate technology up-gradation by extending upfront capital subsidies to the units of Small Scale Industries, that have availed of institutional credit to modernise their equipment and techniques of production. These units include khadi, coir industrial units, etc.
Illustrated below are some noteworthy features of the CLCSS for technology upgradation:
The below-mentioned details highlight the eligibility criteria to become a beneficiary under CLCSS:
By availing of the CLCSS, small scale industries can benefit in a number of ways. Given below are some benefits of CLCSS:
CLCSS is associated with term loans availed by the MSEs from financial institutions. In order to claim subsidy under this scheme, eligible MSEs must apply online through Primary Lending Institutions (PLIs), from where they have availed term loans.
Read on to know the application procedure of this scheme and information on how to track CLCSS application.
Login with your User ID and password on the official web portal of MSME and select ‘Apply for Subsidy’ on the User Task menu.
Provide all required details to continue and fill the form by inputting details about equipment or machinery.
Verify all entered details and submit the form.
You can track your application status for CLCSS either online or by contacting the concerned nodal officer.
The competent authority and concurrence of the Internal Finance Wing grants approval after processing of the application and if funds are available. Following this, funds get released to the nodal agencies, which then transfer the same to the Primary Lending Institutions where the MSE holds its account.
All owners of SSI units who are willing to avail CLCSS must keep in mind the details mentioned above. Besides these, they must also take note of the various documents required to avail this scheme.