State pushes self-employment: Loans up to Rs 50 lakh for educated youth

Chhatrapati Sambhajinagar

The state government has launched a renewed push to support educated unemployed youth by offering loans for starting small industries and service-related businesses under the Chief Minister Employment Generation Programme (CMEGP). The scheme provides financial assistance with a mix of bank loans and subsidies to help young citizens become independent entrepreneurs.

Under CMEGP, applicants can secure loans up to ₹50 lakh for manufacturing units and ₹20 lakh for service sector ventures. The government offers a 25–35% subsidy, which is deposited into the beneficiary’s account after three years.

Who Can Apply

The scheme is open to educated unemployed men and women from all caste categories, living in either urban or rural areas.

Loan and subsidy structure

• Manufacturing units: Up to Rs 50 lakh

• Service sector: Up to Rs 20 lakh

• Subsidy: 35% for SC/ST, women, disabled persons, ex-servicemen, OBC/Vimukta Jati; 25% for the open category

Eligibility

Applicants must be 7th-pass, between 18 and 45 years, and permanent residents of Maharashtra.

Documents needed

Educational certificates, caste certificate, Aadhaar, project report, and bank details. Applications are accepted online through the official CMEGP portal.

“Youth should become job-givers, not job-seekers. The government is offering loans with 25–35% subsidy under CMEGP. Beneficiaries should make full use of this opportunity,” said Swapnil Rathod, general manager, District Industries Centre.