AABCS Scheme 2024 : Easy To Apply, Benefits

Here is a good news for the citizens of Tamil Nadu State as the state government has launched AABCS Scheme for the citizens of their state. The aim of the government to launch this scheme is to provide capital subsidy on eligible project cost. To know more about the scheme continue to read the article till the end. To receive more information about the scheme, interested candidates should go through the official website at msmeonline.tn.gov.in. Further in this article we will provide you the detailed description about the Scheme including Objectives, Benefits & Features, Eligibility, Documents, Registration Procedure etc.

About AABCS Scheme

Micro, Small and Medium Enterprises Department (MSME), The Government of Tamil Nadu has introduced AABCS Scheme. AABCS stands for Annal Ambedkar Business Champions Scheme. This scheme is launched for the citizens of the state who belongs to SC and ST communities. This scheme will help all the financially unstable citizens of the state to start their own business.

Under this scheme, the state government will provide 35% capital subsidy (Not exceeding Rs. 1.5 Crore) on eligible project cost. The project cost include land, plant, machinery, testing equipment and computing devices with cost of land not exceeding 20% of project cost. Vehicles will also be considered if connected to the business process. Government will also provide 6% interest subsidy for loans to purchase machinery and equipment during the tenure of loan not exceeding 10 years.

Key Highlights Of AABCS Scheme

Name of the Article	AABCS Scheme
Launched By	Micro, Small and Medium Enterprises Department (MSME), The Government of Tamil Nadu
Beneficiary	Citizens of Tamil Nadu
Benefits	Financial assistance to start own business
Objective	To reduce the unemployment among the socially disadvantaged and economically weaker sections of society
State	Tamil Nadu
Year	2024
Mode of Transfer	DBT (Direct Benefit Transfer)
Form of Benefit	Business Loans
Hosting Site	NIC (National Informatics Center)
Mode of Application	Online
Official Website	msmeonline.tn.gov.in

Objectives Of AABCS Scheme

The objectives of the Scheme are as follows:

• The primary objective of launching the Annal Ambedkar Business Champions Scheme is to reduce the unemployment among the citizens who falls under socially disadvantaged and economically weaker sections of society.
• Another aim of the scheme is to provide financial assistance to the citizens of Tamil Nadu State for establishing their business units.
• The aim of the government to launch this scheme is to encourage the citizens to become self-reliant by providing them with the necessary resources, guidance and support which includes financial assistance as well.
• Another objective of this scheme is to increase the employment ratio among the citizens of the state.

Benefits & Features Of AABCS Scheme

Here are some benefits & features of the Scheme, which are as follows:

• Under this scheme the Government of Tamil Nadu will provide financial assistance to unemployed citizens so that they can start manufacturing, services or can have their own business firms.
• The state government will provide 35% capital subsidy (Not exceeding Rs. 1.5 Crore) on eligible project cost.
• The project cost include land, plant, machinery, testing equipment and computing devices with cost of land not exceeding 20% of project cost.
• Vehicles will also be considered if connected to the business process.
• Government will also provide 6% interest subsidy for loans to purchase machinery and equipment during the tenure of loan not exceeding 10 years.
• This scheme will increase the employment opportunities for all the unemployed citizens of Tamil Nadu state.
• The state government is taking a significant step towards building a more self-reliant and prosperous Tamil Nadu. This comprehensive approach not only benefits individuals but also contributes to the overall socio-economic development of the state which will create a brighter future for all its residents.

Eligibility Criteria

To avail the benefit under the Scheme, you should fulfill these eligibility criteria:

• Applicant should be a permanent resident of Tamil Nadu State.
• Applicants should belong to SC/ST communities (100% owned by SC/ST persons).
• Age limit of the applicant should be 55 years.
• No minimum educational qualification is required.
• Who wants to start the new business or wants to expand existing enterprises both are eligible for the scheme.

Required Documents

To avail the benefit under the Scheme, candidates should have these following documents:

• Identity Proof (PAN/ Driving Licence/ Passport/ Bank Passbook/ Aadhaar/ Voter ID Card)
• Address Proof of the Applicant (Driving licence, Passport, Electricity bill, Ration Card, Bank passbook, Voter Id)
• Bank Passbook or Canceled Cheque
• Upload Project Report
• Caste certificate
• Passport size photograph
• Mobile Number
• Email ID

Application Procedure For AABCS Scheme

To apply for the Scheme, please follow the below mentioned steps:

• Visit the Official Website at msmeonline.tn.gov.in.

• On homepage select “AABCS” under Schemes option.
• On another page click on “New Application” under “Apply Online” option.
• If you are a new user click on “Register” to get registered yourself.
• Fill the details as asked in the form.
• Again login to your dashboard and fill the application form.
• Attach all the relevant documents.
• Click on Submit button to complete the application process.

Contact Details

HEAD OFFICE

Department Of Industries & Commerce,

SIDCO Corporate Office Building,

Guindy Industrial Estate, Chennai 600 032

Email ID:

FAQ’s