Maharashtra flagship scheme for MSMEs to generate 10 lakh jobs

MUMBAI: Maharashtra government will soon launch the Chief Minister's Employment generation Programme for Micro, Small and Medium companies (MSMEs), which will create 10 lakh jobs in the subsequent five years, reputable officer confirmed recently.

The flagship programme of the Industries department will have 30 percent reservation for women, state development Commissioner (Industries) Dr Harshadeep Kamble informed PTI.

The senior IAS officer said the scheme authorised with the resource of Chief Minister Devendra Fadnavis, installing one lakh devices in five years, forty percent of them in rural areas.

The scheme may be applied on the lines of the Prime Minister's Employment Generation Programme (PMEGP) with online programs and different techniques, the bureaucrat stated.

This scheme is for selling entrepreneurship and to deal with unemployment troubles amongst knowledgeable unemployed young people, Kamble stated. This programme is going to provide aflexible monetary assistance which will plug the investment gap, the assistance ranges from upto Rs 50 lakh for manufacturing opportunities and up to Rs 10 lakh for service sector opportunities, he said.

The programme will cover production service and agro-based, including those in retail, stated Kamble who is responsible for the idea, design and approvals of the scheme from coaching to implementation.

The nodal bank for the programme is the organisation financial institution and the beneficiaries will be financed by nationalised and private banks like YES bank, ICICI financial institution and HDFC financial institution, he said.

To complement this programme, 50 new business parks could be evolved at Taluka level with the aid of the authorities, Kamble said, considering the high call for jobs, this programme for MSMEs is expected to be a "game changer" within the coming days, other official said.

With the elections out of the way, the government can now focus on some of the most pressing issues of the economy, Job creation being right at the top of those issues. The government and its whole machinery would be needed to galvanize this herculean task, which implemented appropriately will result in huge benefits to nationwide population. If the country has to compete with China and continue to top its high GDP growth rates, this programs implementation success will be a key factor towards that.