Maharashtra Maharashtra Chief Minister’s Employment Generation Programme (CMEGP) for MSMEs

Maharashtra Chief Minister’s Employment Generation Programme (CMEGP) for MSMEs

Maharashtra government is soon going to launch Chief Minister’s Employment Generation Programme for Micro, Small and Medium Enterprises (MSMEs). This CM Employment Generation Program is expected to create 10 lakh jobs in the upcoming 5 years. The flagship CMEGP programme of the Industries Department would have 30% reservation for women entrepreneurs.

Individual Entrepreneurs, Institutions, Co-operative Societies, Self Help Groups, Trusts would be CMEGP Programme beneficiaries. The beneficiary contribution would be low in order to facilitate setting up of more enterprises through CM Employment Generation Programme.

Providing Jobs to the educated unemployed youths is a major issue now a days which would be addressed through CMEGP program.

Maharashtra CM Employment Generation Programme (CMEGP)

The state govt. would start CM Employment Generation Programme in which govt. aims to setup 1 lakh units in 5 years. Around 40% of these units would be started in rural areas. The target is to setup 10,000 micro ventures by 1st generation entrepreneurs. Following the similar lines of the Prime Minister’s Employment Generation Programme (PMEGP), there would be CMEGP online application form and other procedures.

Maharashtra CMEGP Scheme Implementation

CMEGP Scheme aims to promote entrepreneurship and to tackle the issues related to unemployment. The new Chief Minister’s Employment Generation Programme will provide financial assistance as a viability gap funding. This funding would be for approved project cost of upto Rs. 50 lakh for manufacturing activities and upto Rs. 10 lakh for service sector activities.

Maharashtra CMEGP programme will cover manufacturing, service and agro-based activities, including those in retail. The complete plan for the concept, design and approvals of the scheme from preparation to implementation stages has already been made. The nodal bank for the CMEGP programme will be Corporation Bank and beneficiaries will be financed by nationalised and private sector banks like Yes Bank, ICICI Bank and HDFC Bank.

In addition to this, the state govt. will develop 50 new industrial parks at taluka level. In order to meet the high demand for jobs, CM Employment Generation Programme for MSMEs would be a “game changer” in the coming days. This is a very good inititiative by state government and shows that the govt. is aware about employment issues which is low since independence.