Navi Mumbai: In a major boost to local entrepreneurship, the Maharashtra Government has revised the Chief Minister’s Employment Generation Programme (CMEGP), bringing significant benefits to aspiring business owners in Raigad district. The updated scheme promises increased financial support, wider business eligibility, and relaxed entry conditions—offering a new dawn for self-employment in the region.
Details Revealed
As per the latest government resolution, the maximum loan limit has been raised to Rs 1 crore for manufacturing units and Rs 50 lakh for service and agri-allied businesses. This move is expected to empower Raigad’s youth and local residents to scale up their business dreams with stronger financial backing.
Support for working capital has also been enhanced. Entrepreneurs in the service sector can now receive funding up to 60% of their project cost, while those in manufacturing can avail up to 40%, ensuring smoother day-to-day operations for businesses in the district.
The scheme now includes a wide range of new businesses that are especially relevant to Raigad’s local economy and natural resources. Poultry farming, fisheries, beekeeping, sericulture, homestays, cloud kitchens, water sports, and boat transport services have been brought under the scheme’s scope. This inclusion is expected to generate new employment avenues and promote sustainable rural development across Raigad’s coastal and inland areas, said a statement issued by Raigad administration.
Eligibility norms have also been simplified. Now, even those who have passed just 8th standard can apply—provided the project exceeds Rs 10 lakh in manufacturing or Rs 5 lakh in service/agri-allied sectors. Furthermore, the minimum age requirement is set at 18 years, with no upper age limit, making the scheme accessible to a wider section of Raigad’s population.
Applicants with prior entrepreneurship training certificates will be exempted from undergoing mandatory training, thereby accelerating the loan approval process for eligible candidates in the district.
"Local banks in Raigad are expected to benefit from the revised scheme as well. With increased loan limits and clearer processes, they will be in a better position to meet their annual loan disbursement targets. The clarity in margin money adjustment—now scheduled for three years after the first disbursement with approval from the District-Level Task Force Committee (DLTFC)—adds further transparency," the statement further added.
The inclusion of diverse businesses and improved working capital provisions are likely to reduce the chances of loan defaults, enabling banks in Raigad to lend more confidently.
The scheme’s implementation process has also been streamlined. Only the DLTFC will remain active at the district level, replacing earlier multiple committees. With key bank representatives now part of the DLTFC, loan approvals and inter-departmental coordination are expected to become faster and more efficient.
DLTFC Raigad will regularly review project progress and coordinate with stakeholders to ensure smooth execution. District officials are encouraging residents to visit the Raigad District Industries Centre and explore the new opportunities available under the enhanced CMEGP.
