The Government of Goa on 2nd September 2021 has notified the Tourist Trade Support (Working Capital Interest Subvention) Scheme 2021 to support the MSME’s in tourism industry, which has been adversely affected due to pandemic, by subsidizing the working capital loans for 6-month period.
Under this scheme, the Government will reimburse interest up to a maximum of 5% on working capital loans amounting to a maximum of INR 25 lakhs for 6 months in one single claim.
For hotels/accommodation, the trade receivables and inventory shall be considered for computing the eligible working capital loan and for travel operators, only trade receivables shall be considered computing the eligible working capital loan.
The eligible entity has to approach the Department of Tourism on completion of six-month tenure from 1st April, 2021 in case of existing Working Capital loan or after completion of first six months in case Working Capital loan has been obtained after 1st April, 2021. Hence the eligible entities can start applying for the scheme from 1st October, 2021 onwards.
The eligible entities shall apply to the Department of Tourism in the form appended to the scheme (ANNEXURE-A). The application form can be downloaded from the website of the department at www.goatourism.gov.in.
