Nagpur: Vidarbha’s Amravati and Nagpur divisions have emerged as frontrunners in the Chief Minister’s Employment Generation Program (CMEGP), surpassing their targets for the financial year. The scheme, aimed at promoting entrepreneurship and self-employment, saw Amravati achieve 108.45% of its target with 3,786 approved projects, while Nagpur recorded 102.19% with 3,636 approvals.
The initiative, spearheaded by chief minister Devendra Fadnavis and industries minister Uday Samant, focuses on providing financial assistance to aspiring entrepreneurs. Under the programme, loans of up to Rs50 lakh are sanctioned for setting up manufacturing and service sector businesses, with subsidies ranging from 15% to 35% of the project cost. The industries department, acting as the nodal agency, set an ambitious target of benefiting 25,000 youth across Maharashtra in 2024-25, generating an estimated 1.25 lakh employment opportunities.
Statewide, 22,843 applications were approved under CMEGP, with notable performances from Konkan division at 91%, Nanded at 89%, Nashik at 82%, Chhatrapati Sambhajinagar at 79%, and Mumbai, where only 22 cases were cleared so far.
The scheme is open to local residents aged 18 to 45 years, with a five-year relaxation for Scheduled Castes, Scheduled Tribes, women, disabled individuals, and ex-servicemen. Applicants seeking loans above Rs10 lakh must have completed at least Class VII, while those applying for amounts exceeding Rs25 lakh must have passed Class X.
The program covers diverse industries, including engineering, hospitality, textiles, automobile, medical equipment, and digital printing. For manufacturing projects, the maximum project cost is set at Rs50 lakh, while for service sector businesses, it is capped at Rs10 lakh. Banks finance 90% to 95% of the cost, requiring entrepreneurs to invest 5% to 10% of their own capital. Officials expect the scheme to play a significant role in boosting local economy and provide sustainable employment.
