Maharashtra’s MSME scheme to give 30 per cent reservation for women, create 10 lakh jobs

As per news reports, the government of Maharashtra is likely to launch the Chief Minister’s ‘Employment Generation Programme’ for micro, small, and medium (MSME) sector. Harshadeep Kamble, State Development Commissioner (Industries) has stated that the MSME scheme is likley to create 10 lakh jobs in the next five years.

The scheme in the state will be implemented on the lines of the PM’s ‘Employment Generation Programme’ (PMEGP) with online applications and other procedures.

The official also quoted that the employment generation programme is expected to have 30 per cent reservation for women entrepreneurs. He added that the scheme’s agenda is also ton promote entrepreneurship in the state, he quoted, “this scheme is for promoting entrepreneurship and to address unemployment issues among educated unemployed youth.”

The scheme approved by Chief Minister Devendra Fadnavis, would set up one lakh units in the the next five years, out of which 40 per cent units will be in rural areas. It is also reported that this year’s target is to set up 10,000 micro-ventures by first-generation entrepreneurs.

Another senior official quoted that, 50 new industrial parks will be developed at taluka level by the government and with the high demand for jobs, this programme for MSMEs is expected to be a ‘game changer’ in the coming days.

The scheme will aid 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. Moreover, this initiative will also cover agro-based activities and others including in retail other than manufacturing and services.

It is reported that the nodal bank for the programme will be Corporation Bank and beneficiaries will be financed by nationalised and private sector banks like ICICI Bank, Yes Bank and HDFC Bank.

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