The youth of West Bengal are interested in Karma Sathi Prakalpa after its official launch. They are regularly searching for the portal on which application forms are invited. This is a self-employment generation scheme in which the government will encourage youth to start their own business.
If you have a unique Idea and you need financial support, then you can apply for this scheme. Rs 2 lakh loan will be provided to set up a new manufacturing unit for any type of small business related to services and trade. If you are interested in this, then check the online application process, eligibility criteria, benefits, loan amount and subsidy, as well as FAQ if you have any doubts in your mind.
Karma Sathi Prakalpa
West Bengal government launches Karma Sathi Prakalpa to provide facilities for young entrepreneurs who want to set up any type of new manufacturing unit and small businesses inside the state. With the help of this scheme government will encourage self-employment and generate new opportunities in both rural and urban areas. Unemployment is a big issue in India in witch, where youth do not get a job according to their qualification. Most of the time, they have to work more for a low pay scale.
Now, the West Bengal government is giving an opportunity to enthusiastic entrepreneurs of the state. The government will help them to set up a new manufacturing unit or a small business in services and trade. This will help them to be independent, and they do not have to depend on any business.
If you are a growing entrepreneur and have a unique Idea, then the West Bengal government can help you with the Karma Sathi Prakalpa. The scheme is also uplifting self-employment in West Bengal. Under the scheme, financial assistance and help will be provided to young entrepreneurs.
The government will provide soft loans and subsidies. So it will help them to generate income in the manufacturing, services and trade business sectors of Rs 2 lakh. This loan will be provided through the state Cooperative Bank on very easy terms. The scheme continues for 3 years after the official notification.
Scheme name
Karma Sathi Prakalpa
Start By
West Bengal government
Department
West Bengal Micro, Small, and Medium Enterprises
Loan and subsidy
Rs 2 lakh
Benefit area
Rural and urban
Launch year
2020
Eligibility Criteria
The West Bengal government set some eligibility criteria for every applicant who wants to apply under the scheme:
The applicant’s age should be between 18 to 50 years.
Applicant’s minimum qualification is 8th Pass. Preference will be given to those entrepreneurs who are already registered with the Employment Bank.
Only one member of the family is eligible to apply for the scheme.
Financial Support
In this scheme, financial support will be provided in the form of a soft loan and subsidy. This support is provided to generate new income in the field of manufacturing, service and trading or business sector. Financial support amount is up to 2 lakh Rupees, and this loan will be provided by the State through cooperative banks.
Subsidy Percentage
Subsidies, which are provided under the scheme, are divided into 2 components. These two sections are mentioned below:
Project Subsidy: The first type of subsidy, in which 15% of the project cost will be provided up to a maximum of Rs 25000/-.
Subsidy on Interest: The subsidy on interest will be paid annually by the person to the Cooperative Bank. The applicant should pay 50% of the repayment on interest for a maximum of 3 years. In other cases 40% for the maximum time period of 3 years.
Beneficiary Contribution
In the project applicant should also contribute some of the percentage of the total cost. These are different for the different categories mentioned below:
Project cost up to Rs 50,000/-: If your project cost is up to Rs 50,000/-, then you have to pay 5% of the project cost for all category applicants.
More than Rs 50,000/- of Project cost: If your project cost is going above Rs 50,000/-, then you have to pay 5% of the project cost for SC/ST/Disabled Person/Women and minority. The remaining categories have to pay 10% of the total project cost.
Calculation with Example
If your project cost is Rs 50,000/- (For all categories), then you have to pay 5% which is Rs 2,500/-, get a subsidy by government 15% which is Rs 7,500/- and a loan from the State Cooperative Bank of 80% which is Rs 40,000/-. The total cost of this project will be Rs 50,000/-.
Documents Needed
Picture Identity Proof (Aadhar card, Voter ID Card, Passport, etc.)
The Karma sathi Scheme application form is available on the official website.
The applicant can download this Bengali form: Application Form.
This form is also available in English language. If you want to download the form in Bengali, the official Notification, and the Performa, then visit the official website.
Then fill the Annexure-1 of the application form with all your information asked for in this form. Also, attach your passport-sized photograph with this form and submit it to the concerned department.
You can submit your application form in the office of the Block Development Officer (BDO), Sub-divisional officer (SDO), Kolkata Municipal Corporation office OR MSME facilitation centre.
Note: If any applicant faces any type of difficulty in filling out the application form, they can visit the Karma Sathi Assistance Desk. You can get assistance, and you can also submit your application form at this desk.
Selection Process
After the submission of your application, BDO/SDO or the KMC Commissioner will thoroughly check your application form. They will scrutinise the application forms according to the eligibility criteria and document submission.
Officials will forward your applications to the MFC of the district within 3 working days for the next process.
Now, all the eligible applicants’ forms will go online on the Karam Sathi portal by the officials.
After that, MFC send these application forms to the respective cooperative banks. Applicants will get SMS about the progress.
After that Cooperative Bank will check your application form and sanction the loan according to the need.
Cooperative Bank will disperse 90% to 95% of the loan amount into instalments to the beneficiary bank account.
FAQ
What do you mean by the Karma Sathi Prakalpa?
To provide financial support for young entrepreneurs West Bengal government launched a scheme in which they provide loans and subsidies for setting up new manufacturing units and small businesses.
What is the age limit to apply for the scheme?
Applicant age should be between 18 to 50 years.
What is the qualification required for the scheme?
The minimum qualification is an 8th-class pass. If you registered with the Employment Bank, then you will get preference.
Is there any last date to submit your application form for the Karma Sathi Prakalpa?
There is no last date available on the official website to submit your application form.
