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Maharashtra's MSME scheme to generate 10 lakh jobs, 30 per cent reservation for women

According to news reports, the Maharashtra government is likely to launch the Chief Minister's Employment Generation Programme for micro, small, and medium Enterprises (MSMEs). Harshadeep Kamble, State Development Commissioner (Industries) said that the scheme is expected to create 10 lakh jobs during the next five years. The scheme in the state of Maharashtra be implemented on the lines of the PM’s Employment Generation Programme (PMEGP) with online applications and other procedures.

The employment generation programme is expected to have 30 per cent reservation for women entrepreneurs, the official added. The official also said, “this scheme is for promoting entrepreneurship and to address unemployment issues among educated unemployed youth.”

He also said that the scheme, approved by Chief Minister Devendra Fadnavis, would set up one lakh units in the course of the next five years, out of which 40 percent will be in rural areas. He also added that this year's target is to set up 10,000 micro-ventures by first-generation entrepreneurs.

To aid this programme, 50 new industrial parks will be developed at taluka level by the government. In wake of the high demand for jobs, this programme for MSMEs is expected to be a ‘game changer’ in the coming days, another official quoted.

It is reported that the scheme will provide financial assistance as a feasibility gap funding for approved projects costing of up to ¿ 50 lakh for manufacturing activities and up to ¿ 10 lakh for service sector activities. In fact, this initiative will also cover agro-based activities and others including in retail other than manufacturing and services.

Harshadeep Kamble, State Development Commissioner further quoted, that the nodal bank for the programme will be Corporation Bank and beneficiaries will be financed by nationalised and private sector banks like Yes Bank, ICICI Bank and HDFC Bank.

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