Coir Vikas Yojana (CVY)

Coir Vikas Yojana (CVY) focuses on the enhancement of the MSME sector hence encourages exploring domestic and international export markets with  emphasis on women empowerment, entrepreneurship, skill and training, innovation as well as manufacturing. 

The activities under the Coir Vikas Yojana include raw material usage, trade services, and coir activities

Coir Vikas Yojana Associations 

The CVY works in close association with the following schemes:

1. Export Market Promotion (EMP)
2. Skill Upgradation and MCY
3. Development of Production Infrastructure (DP)
4. Group, Personal Accident Insurance scheme
5. Domestic market Promotion (DMP)
6. Trade and Industry Related Functional Support Services (TIRFSS)

Salient Visions and Features of the Coir Vikas Yojana

1. A subsidy of 75% for, coir processing, Coir equipment, machines, raw materials, and so on
2. Encourage to inculcate proper techniques to produce quality fiber, yarn and other products
3. Focus on quality at the grass-root level
4. Establishing coir service units to promote productivity, quality
5. Spread awareness among the peers
6. Updating the present coir units
7. Making sector pollution-free
8. To improve the income

Nodal Agencies for CVY

The coir board in Kochi is the nodal agency of the CVY scheme. Further, the implanting agencies of the scheme are the Regional or Sub-regional training centers, otherwise the offices of the board. 

The board submits the quarterly report to the Ministry of MSME. Furthermore, interventions are from the Central Institute of Coir Technology and research institute, if and when necessary.

1. The list of applications: head-quarters, regionals offices, and the coir website will have the information. Also, a data bank by the coir board.
2. Monitoring: regional offices along with the chairman, secretary, and CEO of the coir board

Eligible Candidates under CVY

Any individual in the MSME sector related to the coir establishment can apply for availing the benefits of the scheme. However, it is important to complete 5 years of the successful operation of the unit and should have a Udyog Aadhaar. However, the eligibility will differ for each scheme.

Structure of Assistance under CVY

1. Entire coir section will receive financial aid; however, each unit will have a different limit that is set by the Ministry Act of MSME
2. To avail benefits, application should be filed online. The officer in charge will check the application and the subsidy will be decided.
3. Post that, the same shall be sent to Coir Board head-quarters for approval of assistance
4. The Coir Vikas Yojana will abide by the Standards set by the Bureau of Indian Standards (BIS)
5. Nonetheless, the limit of financial assistance is Rs 2.5 crore
6. A committee of 5 members, 2 from trade and 3 senior officials will have the final say in the maximum limit.
7. The place of issue of machinery is the beneficiary’s choice (mandatory GST number)
8. Submit all the necessary documentation to the bank, a copy of the same notarized by Bank manager should be submitted with the application

In addition, the applicants shouldn’t have availed any of the following subsidies:

1. Prime Minister’s Employment Generation Programme (PMEGY)
2. Technology Upgradation Fund (TUF)
3. Development of Product Infrastructure (DPI)
4. Coir Udyami Yojana (CUY)