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The Maharashtra Government approved the introduction of a new credit-linked subsidy programme called the Chief Minister’s Employment generation Programme for MSMEs. This program is expected to create 1 million jobs in the next 5 years. Providing jobs to educated unemployed youths has been a major issue these days, and through this program, it could be addressed.
This scheme or programme seeks to entrepreneurship and tackle issues pertaining to unemployment. It will provide financial assistance as a viability gap funding. It would be for approved project cost of up to 50 lakh rupees for manufacturing activities and up to 10 lakh rupees for service sector activities.
Further, the programme would cover manufacturing, service, and agro-based activities, including those in retail. The plan for the concept, design, and approvals of the scheme starting from preparation to implementation stages has been made.
The nodal bank for this programme would be corporation bank, and beneficiaries would be financed by the nationalized and private sector banks such as Yes Bank, ICICI Bank, and HDFC Bank.
The following criteria shall apply for this Employment Generation Programme:
For a hassle-free implementation of the scheme, the complete process has been made online. A dedicated portal has been developed for the speedy and transparent implementation of the scheme. https://maha-cmegp.gov.in
Youths have been grappling with employment issues in the country. Therefore with a view to meet the rising demands for jobs, the Maharashtra Chief Minister’s Employment Generation Programme for MSMEs can be a crucial step in the coming days. In addition to this, the state government will also develop 50 new industrial parks at the taluka level.
Read our article:Amendment in Selection Criteria for MSME – INDULGENCE OF MORE MEDIUM SIZED ENTERPRISES
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