Government Registration MSME

All you need to know about Chief Ministers Employment Generation Programme –Maharashtra

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.

Maharashtra Chief Minister’s Employment Generation Programme- Implementation

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.

Eligibility criteria under the scheme

The following criteria shall apply for this Employment Generation Programme:

• Any individual between the age group of 18 to 45 years. For special category (including SC/ST/Women/Ex-servicemen/Differently abled), the age is relaxed by 5 years.
• The applicant should be a resident of the state of Maharashtra. In case of birth outside this state, the applicant should have the domicile certificate.
•  There would be no income ceiling to be eligible for availing of financial assistance.
• The constitutions eligible for setting new units or ventures established under the scheme are proprietorship, partnership, and self-help groups registered with respective authorities.
• Projects or units that cost between 10 to 25 lakh rupees, the required educational criteria for the applicant is at least 7^th pass, and for projects/units above 25 lakh rupees, the required educational criteria is minimum 10^th pass. The applicants should also have respective or relevant skills needed for the project.
• Just one person from a family would be eligible under the scheme.
• An assistance under this scheme is only available for new projects/ventures.
• The Registered self-help groups (including those belonging to BPL provided that they haven’t availed benefits under any other central and state scheme) are eligible for assistance.
• Those existing units and units that availed the benefit under the PMRY, REGP, PMEGP, or any other subsidy linked scheme of Indian Government, or State Government and units that have already availed of government subsidy under any other scheme of Indian government or state government aren’t eligible under this scheme.

Other eligibility conditions under Maharashtra Chief Minister’s Employment Generation Programme

• For assistance as a special category, a certified of caste/validity certificate or relevant document issued from a competent authority is needed to be furnished by the applicant to the concerned implementing agency when making application. Those applicants with 21 types of benchmark disabilities covered under the “Rights of persons with Disabilities Act, 2016” must furnish a valid certificate of disability.
• A certified copy of the SHG registration/constitution of the firm of the proposed project/unit is needed, wherever necessary.
• The cost of the land shouldn’t be included in the cost of the project. Cost of the ready built-up work is admissible subject to maximum 20% of the total project cost.
• Long lease/rental work-shed/Workshop/gala may be included in the cost of the project subject to restricting such cost to be calculated proportionally on a pro-rata basis for three years time.
• The project cost shall include capital expenditure and one cycle of working capital. Those projects without capital expenditure will not be eligible for financing under this scheme. Those projects costing more than 5 lakh rupees that don’t need working capital require clearance from the regional office or controller of the bank branch, and the claims should be submitted with such certified copy of approval from the regional office or controller, as the case may be.
• In case of service sector and agro-based activities as mentioned above, new projects work- shed/shop the maximum cost eligible is limited to 20% of the total project cost, and maximum working capital for such projects would be limited to a maximum of 30% of the total cost of the project.
• Assistance under the Maharashtra Chief Minister’s Employment Generation Programme will be applicable to all new viable MSEs, including village industries. (Project cost limited to 50 lakh rupees)
• SC and ST applicants shall have reservation of 20% in the total yearly target.
• Women applicants shall have reservation of 30 % in the total yearly target.
• Differently abled applicants shall have a reservation of 3% according to the provisions of Social Welfare Department GR dated 24-2-19 in the total yearly budget.  

Portal for implementation of the Maharashtra Chief Minister’s 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

Conclusion

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