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The Narendra Modi Government’s drive to change names has now reached the doors of the Coir Board, which has ‘simplified’ the names of two Central sector schemes run by it.
The Coir Board, which falls under the Ministry of Medium, Small and Micro Enterprises (MSME), announced on Friday that the “Rejuvenation, Modernisation and Technology Upgradation”(REMOT) scheme and the “Coir Plan (General)” scheme, have been renamed as Coir Udyami Yojana (CUY) and Coir Vikas Yojana (CVY), respectively, “to make it better understood by the stakeholders.”. Incidentally, the maximum takers of these schemes are in South India, with the Coir Board headquartered in Ernakulam, Kerala.
The decision to change the names of schemes was taken in a review meeting chaired by MSME Minister Kalraj Mishra, who also launched the Ministry’s mobile-friendly website, an official release said.
The CUY will be credit-linked subsidy scheme in the coir sector, which aims to integrate and develop coir units. It provides 40 per cent as government subsidy, 55 per cent as bank loan and 5 per cent beneficiary contribution for setting up of coir units with project cost up to ₹10 lakh.
“No collateral security/third party guarantee is required,” said the release, adding that there is also no income ceiling for the assistance.
Under the CVY, skill upgradation will be undertaken for men and women coir workers, including assistance for setting up and expansion of coir units, participate in domestic fairs and international exhibitions.
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