Around two months ahead of Assembly polls in Maharashtra, the government will launch the Chief Minister Employment Generation Programme (CMEGP), expected to generate 10 lakh jobs in the next five years. The programme will provide around Rs. 15 lakh each for 10,000 micro-, small-, and medium-sized industrial units, in return for 2 lakh jobs every year. “We are launching CMEGP in the next few weeks. Units with capital investment of up to Rs. 50 lakh will be funded up to 35% by the state, once 10% of investment is raised by the entrepreneur,” said Harshdeep Kamble, development commissioner (industries), state.
“The remaining capital has to be raised through loans by the banks. We expect 1 lakh such industrial units to be set up in the next five years, of which 10,000 units are expected in the first year and 20,000 units in the second year,” he added .